Did you participate in the Home Buyer’s Plan (HBP) and your withdrawals have not been fully repaid? Make sure that the HBP repayment is not included in your taxable income. The required repayment will appear
Read MoreContributions to a Registered Retirement Savings Plan (RRSP) are tax deductible. Your RRSP contribution limit will appear on your Notice of Assessment from the prior year or you can go online using the ‘My Account’
Read MoreIf you bought a home in the tax year, the Canada Revenue Agency (CRA) has a Home Buyers Program (HBP) and a tax credit that may help you save money. To be eligible for the
Read MoreIf you got married/entered common law status/were divorced or separated in the tax year, the change in status may impact your tax liability. It is important to inform the Canada Revenue Agency (CRA) as soon
Read MoreCredits and benefits available to you include: Age Amount Pension Income Amount Pension Splitting The age amount tax credit is a non-refundable credit which is available to persons who are aged sixty five (65) years
Read MoreIf you have a child who is under 18 years of age, you may qualify to receive the Canada Child Tax Benefit (CCTB). This benefit is given to families to subsidize the cost of raising
Read MoreYou can claim the fees for costs paid in 2015 up to a maximum of $1,000 per child. To determine if you are eligible, see the CRA’s requirements for more information: http://www.cra-arc.gc.ca/gncy/bdgt/chldrnsftnss2014-eng.html
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