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Home » Taxation
CANADA INCOME TAX CREDITS AND DEDUCTIONS
Category :- Taxation

Author :- fastneasytax.com 
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Posted on February 24, 2015, 9:02 pm
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Article reprinted with permission from fastneasytax.com

 

We have compiled various personal income tax credits and deductions available to Canadian taxpayers for 2013. Basic difference between tax credit and tax deduction is that tax deduction reduces your taxable income and tax credit reduces your income tax. They have been grouped under Deduction, Federal Credit and Province specific credit for easy understanding. Children deduction and income tax credit have been grouped together for families with children under children tax credit. Most of the children tax credit and deductions are available for children under 18. Similarly, income tax credits for dependents have been grouped together under dependent tax credit . For each deduction/credit, we have listed the line number on tax return, eligibility criteria (who can claim), maximum limit(if any), carry-forward(yes/no), transfer option etc. Our goal is to help you maximize your tax refund by using the right deduction/credit for right tax year. For more details on any income tax credit and deduction in Canada, you can contact us or visit CRA site.

Income tax deduction to reduce your Canadian taxable income:

These federal tax deductions are available to all taxpayers in Canada irrespective of which province you live in. If you meet the eligibility criteria, you can claim them. If you do not have enough taxable income to use your tax deduction, you can carry forward some of the deductions and claim it in later years.

 

-Line 208 - RRSP / pooled registered pension plan (PRPP) deduction: RRSP deduction is the most common deduction available to all taxpayers under 71 years of age. You (including temporary foreign workers) can contribute upto maximum of RRSP deduction limit as shown on your notice of assessment. You can carry forward your contribution and claim it any future tax year. It is advisable to contribute every year for tax-free growth and claim it in the year when it gives you maximum tax benefit. To carry over RRSP contribution, do not enter any amount to be claimed for tax year. Unused contribution will automatically carry over. You can contribute to spousal plan as well and get same benefits.

-Line 212 - Annual union, professional, or like dues: If you have paid annual union, professional or like dues (e.g. Teacher union dues, union membership dues) related to your employment, you can claim it on tax return by entering the amount from your T4 slip or under "split pension deduction and others" in Deduction tab for dues not reported on T4 slip. Professional dues can not be carried forward. You can not claim annual union dues from past year. If you have no income, professional dues deduction will not provide you any taxable benefit. Union dues are not transferable. You can not transfer amount in line 212 to your spouse. There is no maximum limit for union dues.

-Line 214 - Child care expenses: If you or your spouse paid for someone to look after your child (under 16 years of age in 2013 or with an impairment in physical or mental functions) so one of you could earn income, go to school, or conduct research in 2013, you can claim that expense as child care expense deduction on your income tax return. Canadian child care expenses are not 100% deductible. You can deduct upto a maximum of two-third of employment income earned. Eligible deduction will be calculated automatically by our program once you enter the total expense details. Enter the child care expense after selecting your child in dropdown in top panel and going to Credit tab.

-Line 215 - Disability supports deduction: If you have mental or physical impairment, you can claim expenses paid for personal attendant care and other disability support expenses allowing you to go to school or earn certain income. You can not carry forward this deduction.

-Line 219 - Moving expenses: If you moved to work or to run a business or to study as full time student at an educational institution and you moved at least 40 km closer to your new work or school, you can claim moving (relocation) expenses as deduction on your tax return against the net eligible income at new location. You have the liberty to carry forward the moving expenses paid to next tax year if you do not have enough eligible income to use all your deduction. Maximum amount is limited by the eligible income at your new location. You will have to use all of your carried forward moving expense in the next tax year. To carry over moving expenses, do not report those moving expenses as part of current tax year and report it next year.

-Line 221 - Carrying charges and interest expenses: Applicable to you if you have investments (such as stocks, mutual funds, bonds etc.) in a non-registered portfolio. If you pay an investment advisor to manage your non-registered investment portfolio or you have borrowed money to make investments in this portfolio, you can claim your investment expenses including GST on line 221 (enter in Deduction tab under investment expenses), reduce your taxable income and move to a lower tax bracket, if possible. You can claim only those expenses for tax year 2013 which have been paid by Dec 31, 2013. Investment expense can't be carried forward.

-Line 222 / 310 / 5828 - Deduction for CPP contributions on other earnings: You can make CPP contributions on certain employment income for which no contribution was made (such as tip income not shown on a T4 slip) or you can make additional contribution if you had more than one T4 slip in the year and total CPP contribution is less than the required amount. You can make this election under "Deduction for CPP contribution or EI premium on other eligible earnings" in Deduction tab.

-Line 224 - Exploration and development expenses: If you invested in a petroleum, natural gas, or mining venture in 2013 but did not participate actively, you can deduct your expenses on this line using information from T5, T101, T5013, or T5013A slips. You can not carry forward exploration and development expenses . There is no maximum limit for line 224.

-Line 229 - Other employment expenses: If you paid certain expenses for work gear to earn employment income as mandated by your employment contract and either you did not receive an allowance or you reported the allowance as income, you can claim those expenses as employment expenses including GST/HST on those expenses. No maximum limit and no carry forward.

-Line 232 - Other deductions: You can claim other eligible deduction amount not claimed elsewhere on this line. E.g. If you repaid amounts received and reported as income, you can claim that as deduction. If you repaid RDSP benefits reported as income before, you can claim that as deduction. Amount recovered from OAS pension reported on Box 20 of your T4A(OAS) can be claimed as deduction here. If you repaid excess EI benefits (reported on Box 30 of your T4E slip), you can claim a deduction for that amount. You can claim deduction for legal fees paid in certain situations. E.g. Fees paid for advice or assistance to respond to CRA, fees paid to collect or establishing a right to collect retiring allowance or pension benefit, fees paid to collect or establishing a right to collect salary, fees paid to try to make child support payment non-taxable etc. No maximum limit and no carry forward.

-Line 249 - Security options deductions: If you disposed of securities for which you had previously deferred the taxable benefit, you can claim a deduction for that. You can claim additional amount if you elect for special relief in respect of gains from a disposition of eligible securities for which you had previously deferred the taxable benefit. No maximum limit and no carry forward

-Line 251 - Limited partnership losses of other years: If you had limited partnership losses in previous years which you have not already deducted, you may be able to claim part of these losses this year. You can carry forward these losses indefinitely.

-Line 252 - Non-capital losses of other years: For non-capital losses incurred in tax years ending after March 22, 2004, and before 1st Jan 2006, the loss carry-forward period is 10 years. For non-capital losses incurred after 31st Dec 2005, the loss carry-forward period is 20 years. Your available losses are shown on your latest notice of assessment.

-Line 253 - Net capital losses of other years: You can deduct your net capital losses of previous years which you have not already claimed. Your available losses are shown on your latest notice of assessment for 2012.

-Line 255 - Northern residents deductions (Northern Tax Allowance): If you have lived, on a permanent basis, in a prescribed northern or intermediate zone for a continuous period of at least six consecutive months, you can claim a residency deduction (for living in the zone) and a deduction for travel benefits you received from employer that was included in your income. 6 month period can begin or end in the tax year.

Tax credits to reduce your tax payable:

CRA allows these income tax credits on schedule 1 and form 428 to all taxpayers in Canada. If you meet the eligibility criteria, you can claim them.

 

-Line 300 / 5804 - Basic personal amount: Everyone, except immigrant or emigrants, claims $11,038. Immigrants and emigrants can claim prorated amount based on the date they came to Canada or departed from Canada. Provincial amount varies by province. There is no form to enter this. Our tax filing program automatically calculates this.

-Line 301 / 5808 - Age amount: If you were 65 years of age or older on December 31, 2013, and your net income (line 236 of your return) is less than $80,256, you can claim age amount. Maximum age amount allowed is $6,854. Provincial amount varies by province.

-Line 303 / 5812 - Spouse or common-law partner amount: You can claim upto $11,138 (plus additional $2058 if your spouse qualifies for family caregiver amount) if you supported your spouse or common-law partner at any time during the year and net income of your spouse was less than $11,138. Provincial amount varies by province. Actual credit amount is reduced by net income of your spouse. Both spouses can not claim each other for spousal amount. If net income of your spouse is more than 11,138, you can not claim spousal amount.

-Line 308 / 5824 - CPP or QPP contributions through employment: You can claim your total CPP or QPP contributions shown in box 16 or 17 of your T4 slips. Maximum allowed is $2,356.20 for tax year 2013 if you worked only outside Quebec. Same amount can be claimed on provincial form. CPP contributions are not tax deductible. Instead, you get non-refundable tax credit for your contribution.

-Line 312 / 5832 - Employment insurance premiums through employment: You can claim your total EI contributions shown in box 18 of your T4 slips if you were not a resident of Quebec. Maximum allowed is $891.12 for tax year 2013. Same amount can be claimed on provincial form.

-Line 314 / 5836 - Pension income amount: You may be able to claim up to $2,000 if you reported eligible pension, superannuation, or annuity payments in your income. Pension credit for line 314 / 5836 is calculated automatically by our program. Provincial credit varies by province.

-Line 316 / 5844 - Disability amount (for self): You can claim $7,697 (equivalent of $1,155 as non-refundable tax credit ) if a qualified practitioner certifies, on Form T2201, Disability Tax Credit Certificate, that you meet required conditions of severe and prolonged mental or physical impairment. If you are under 18 years of age, you can claim an additional amount of upto $4,490 depending on your income. Provincial credit varies by province. Unused disability tax credit can not be carried forward.

-Line 319 / 5852 - Interest paid on your student loans: You can claim an amount for the interest paid (by you or by your relative) on principle canada student loan in 2013 or the preceding five years. If you don't have tax payable in the year, you can carry forward the amount and claim it on your tax return in any of the next 5 years. Same amount will be claimed on provincial form.

-Line 323 / 5856 - Your tuition, education, and textbook amounts: You can claim unused federal tuition and education amount from previous years along with new amount for part-time or full-time course attended last year. Only those fees can be claimed which have been reported on form T2202A, TL11A or TL11B by your institution. There is no need to show monthly tuition fee for tax purpose. Total fees for the tax year should be entered as one amount. Other expenses such as boarding and lodging, textbook fees or art supplies are not eligible. You can transfer upto $5,000 to your parent/grandparents/spouse/common-law partner from the eligible expense. You can carry forward the unused tuition amount indefinitely and use it for any future income tax return. To calculate value for line 323, enter your course and tuition fee details in Credit tab and our program will automatically calculate the value using schedule 11. Provincial tuition credit varies by province.

-Line 330 / 5868 - Medical expenses for self, spouse or common-law partner, and your dependent children born in 1996 or later: You can claim medical expenses paid for you, your spouse or common-law partner or your children under 18 in any 12-month period ending in 2013. You can maximize the tax benefit by selecting the optimum 12 month period. Either you or your spouse can claim this credit. So, person getting maximum tax benefit should claim this amount. One way to carry forward medical expense is by selecting the right 12-month period as long as the period ends in tax year.

-Line 349 / 5896 - Donations and gifts: You can claim donation to charity on this line. You get maximum credit for donation beyond $200 at the highest tax rate applicable for your province. It makes sense to accumulate your donations and claim it once every 5 years. You can combine your donation with your spouse or common-law partner and any one of you can claim that amount. You can carry forward your donation amount and claim in any of the next 5 years.

-Line 362 - Volunteer firefighters' amount: You can claim tax credit for an amount of $3,000 if you were a volunteer firefighter during the year; and you completed at least 200 hours of eligible volunteer firefighting services with one or more fire departments in the year. This is not a tax deduction.

-Line 363 - Canada employment amount: You can claim upto $1,117 depending on employment income reported on line 101 and line 104. There is no form for line 363. It is calculated automatically by our program.

-Line 364 - Public transit amount: You can claim the cost of monthly, annual or weekly (subject to qualifications) public transit passes for travel on public transit for 2013. There is no maximum limit. You can claim it for your spouse or your children under 19 years of age also. Previous year unused public transit amount can not be carried forward for next year. There is no maximum yearly limit for this.

-Line 369 - Home buyers' amount: You can claim an amount of $5,000 for first time home buyer tax credit for the purchase of a qualifying home in 2013, if 1) you or your spouse or common-law partner acquired a qualifying home. And 2) you did not live in another home owned by you or your spouse or common-law partner in 2013 or in any of the four preceding years (first-time home buyer). First time home buyer credit can not be carried forward. To claim this for previous year, you will have to file a revised tax return for previous year.

-Line 405 - Federal foreign tax credit: You can claim this credit if you paid foreign tax on income received outside Canada and reported as income on your tax return. Most temporary foreign workers coming to Canada on work permit may be eligible to claim this credit if they continue to receive part of their compensation in their home country.

-Line 410 - Federal political contribution tax credit: You can claim this credit if you or your spouse or common-law partner contributed to a registered federal political party or a candidate for election to the House of Commons and you owe tax for the year. You can not carry forward this contribution. Either you or your spouse can claim this credit. So, maximize the tax benefit by selecting the right taxpayer for claiming this credit.

-Line 414 - Labour-sponsored funds tax credit: You can claim this credit if you bought labour-sponsored funds. Maximum limit is $750 per year.

-Line 425 - Federal dividend tax credit: You can claim this credit if you reported dividend income on line 120.

-Line 426 - Overseas employment tax credit: You can claim this credit if you had employment income for work done in a foreign country and you were a resident or deemed resident of Canada at any time in 2013. Provincial political contribution tax credit: You can claim this credit if you or your spouse or common-law partner contributed to a registered provincial political party or a candidate in provincial election. You can not carry forward this contribution. Either you or your spouse can claim this credit. So, maximize the tax benefit by selecting the right taxpayer for claiming this credit.

If you supported an eligible dependent, following CRA approved dependent tax credits can help you reduce your tax payable on your Canadian tax return. These tax credits can be claimed on all provincial tax return as well. To claim a dependent, dependent income need not be zero.

 

-Line 305 / 5816 - Amount for an eligible dependant: You can claim this amount if, at any time in the year, you supported an eligible dependant and his or her net income (line 236 of his or her return) was less than $11.038. Maximum federal amount is $11,038. If dependant qualifies for family caregiver amount, you can claim an additional $2,040. Tax credit for a child claimed as eligible dependent is same as tax credit available for dependent spouse. Only one claim is allowed for this line. Provincial credit varies by province. Eligible dependent for line 305 is 
1) your child, grandchild, brother or sister and they are either under 18 years of age or they have mental or physical impairment. 
2) your parents or grandparents.

 

-Line 306 / 5820 - Amount for infirm dependants age 18 or older: If you supported an eligible dependent, you can claim upto $6,530 per dependant depending on dependant income. Provincial credit varies by province. You can claim more than one person as eligible dependent on this line if 
1) the person is 18 years or older, and 
2) person has mental or physical impairment and 
3) person is your (or your spouse's) parent, grandparent, brother, sister, aunt, uncle, niece, nephew.

-Line 315 / 5840 - Caregiver amount: If you supported an eligible dependent in your house, you can claim upto $4,490 per dependant depending on dependant income. You can claim an additional $2,040 if dependant qualifies for family caregiver amount. Provincial credit varies by province. Eligible dependent for line 315 is 
1) your (or your spouse's) parent, grandparent, child, grandchild, brother, sister, aunt, uncle, niece or nephew and 18 years of age or older and dependent on you due to mental or physical impairment. or 
2) your (or your spouse's) parent or grandparent and 65 years of age or older

-Line 318 / 5848 - Disability amount (DTC) transferred from a dependant: You may be able to claim upto maximum disability amount (line 316) of your dependant (other than your spouse or common-law partner) if he or she was resident in Canada at any time in 2013 and was dependent on you for some of the basic necessities of life (food, shelter, or clothing).

-Line 331 / 5872 - Allowable amount of medical expenses for other dependants: You can claim medical expenses paid by you or your spouse for an eligible dependent (including children over 18 years of age) in any 12-month period ending in 2013. You can maximize the tax benefit by selecting the optimum 12 month period.

Having kids has its own tax advantage in Canada in the form of these federal tax credits for children which reduces your income tax payable to CRA.

 

-Any unused child tax credit can not be carried forward for use in next year.

-Line 313 / 5833 - Adoption expenses: You can claim upto $11,669 per child towards eligible adoption expenses related to the adoption of a child less than 18 years of age. Taxpayers of Ontario, Alberta, British Columbia, and Newfoundland and Labrador can claim provincial credit for adoption expense. Unused adoption expenses can not be carried forward. Provincial credit varies by province.

-Line 324 / 5860 - Tuition, education, and textbook amounts transferred from a child: You can transfer upto $5,000 from your student child/grandchild. Transfer the amount that can be used by you. Unused portion can be carried forward indefinitely by child. Except Ontario, all provinces allow you to transfer upto $5000 on line 5860 for provincial credit. Ontario allows $6500 for line 5860.

-Line 365 - Children's fitness amount: You can claim to a maximum of $500 per child as fitness tax credit for the fees paid in 2013 relating to the cost of registration or membership for your or your spouse's or common-law partner's child in a prescribed program of physical activity. The child must have been under 16 years of age (born in 1998 or later) (or under 18 years of age (born in 1996 or later) if eligible for the disability amount) at the beginning of the year in which an eligible fitness expense was paid. If child qualifies for disability amount, you can claim an additional amount of $500 as long as you have paid a minimum of $100 for registration. You can not claim fitness expense for future years.

-Line 367 - Amount for children born in 1996 or later: Either you or your spouse or common-law partner can claim an amount on tax return for each of your or your spouse's or common-law partner's children who are under 18 years of age at the end of the year if the child resided with both of you throughout the year. Maximum tax credit amount is $2,234 per child. If child qualifies for family caregiver amount due to mental or physical impairment, you can claim an additional $2,040 for the child. You can claim this every year as long as your child is under 18 years of age for that tax year.

-Line 370 - Children's arts amount: You can claim to a maximum of $500 per child for the fees paid in 2013 relating to the cost of registration or membership for your or your spouse's or common-law partner's child in a prescribed program of artistic, cultural, recreational, or developmental activity. The child must have been under 16 years of age (or under 18 years of age if eligible for the disability amount) at the beginning of the year in which an eligible fitness expense was paid. If child qualifies for disability amount, you can claim an additional amount of $500 as long as you have paid a minimum of $100 for registration. Unused recreational expenses can not be carried forward for use in next year. You can not claim art amount from previous years. However, you can claim previous year art amount on previous year tax return by submitting a revised tax return for previous year.

Province specific children tax credit

 

Ontario children tax credit

 

-Ontario children's activity tax credit: You can claim maximum amount of $535 per child on your personal income tax return for registration in a qualifying program (valid for Line 365 or Line 370). If child qualifies for disability amount and is under 18 years of age, you can claim an additional amount of $535 as long as you have paid a minimum of $100 for registration.

British Columbia children tax credit

 

-Line 5838 - Children's fitness amount: You can claim upto $500 per child for this credit if you have claimed a credit on Line 365 for the child.

-Line 5841 - Children's arts amount: You can claim upto $500 per child for this credit if you have claimed a credit on Line 370 for the child.

Newfoundland and Labrador children tax credit

 

-Line 5831 - Child care amount: You can claim the same amount you claimed on Line 214 of your income tax return.

Nova Scotia children tax credit

 

-Line 5823 - Amount for young children: You can claim $100 per month for each child under 6 years of age. If you had a spouse at the end of the year, only the person with lower net income (including zero income) can claim this amount.

-Line 5849 - Sport and recreational expenses for children: You can claim sport and recreational expenses for registration in a designated sport or recreational activity up to $500 per child under 18 years of age.

Prince Edward Island children tax credit

 

-Line 5823 - Amount for young children: You can claim $100 per month for each child under 6 years of age.

Saskatchewan tax credit

 

-Line 5821 - Amount for dependent children born in 1995 or later: You can claim $5,782 per child born in 1995 or later as long as no one has claimed the child as either a dependent on Line 5816 or spouse on Line 5812.

-Active families benefit: you can claim up to a maximum of $150 per eligible child of 18 years or younger for the fees paid in 2013 that relate to the cost of registering your or your spouse's or common-law partner's child in an eligible activity. To claim active families benefit, enter the registration amount in Credit tab after selecting your child in the family drop down.

Province specific tax credit

 

Alberta tax credit

 

-Line 5844 - Disability tax credit amount (for self) in Alberta: You can claim $13,571 (equivalent of $1,357 as non-refundable tax credit ) if you are eligible to claim line 316 on federal form. If you are under 18 years of age, you can claim an additional amount of upto $10,184 (equivalent of $1,018 in non-refundablt tax credit) depending on your income.

-Unused Alberta attributed Canadian royalty income: You can claim this credit if you had any unused amount of Alberta attributed Canadian royalty income shown on your notice of assessment for 2011.

-Alberta stock savings plan tax credit: You can claim this credit using form T89 if you had any unused stock savings plan tax credit to be applied in 2012. You won't be eligible for NETFILE.

-Alberta does not have any provincial tax credit for sports or child fitness.

British Columbia tax credit

 

-Line 5844 - Disability tax credit amount (for self) in British Columbia: You can claim $7,394 (equivalent of $374 as non-refundable tax credit ) if you are eligible to claim line 316 on federal form. If you are under 18 years of age, you can claim an additional amount of upto $4,314 (equivalent of $218 in non-refundablt tax credit) depending on your income.

-BC sales tax credit: The BC sales tax credit of $75 per adult will be available for 2013. The maximum credit will be reduced by 2% of family net income over $15,000 for single individuals and over $18,000 for those who have a spouse or common-law partner.

-British Columbia employee share ownership plan tax credit: You can claim this credit if you have received Certificate ESOP 20 for your investment in a registered British Columbia employee share ownership plan (ESOP) at any time in 2013 (and did not claim them on your 2012 tax return) or in the first 60 days of 2014.

-British Columbia employee venture capital tax credit: You can claim this credit if you have received Certificate EVCC 30 for your investment in registered British Columbia employee venture capital corporation (EVCC) at any time in 2013 (and did not claim them on your 2012 tax return) or in the first 60 days of 2014.

-British Columbia mining flow-through share tax credit: You can claim this credit if you invested in flow-through shares and have received a slip T101 or T5013A showing BC qualifying expenses on Box 141.

-Seniors homes renovation tax credit: You can claim upto $10,000 for this credit if you incurred eligible home renovation (improvement) expenses in 2013 to our principal residence or the land on which your principal residence is situated and you are a senior (older than 65) or living with a senior relative.

-Venture capital tax credit: You can claim this credit if you have received Certificate SBVC 10 for your investment in a venture capital corporation (VCC) or eligible business corporation (EBC), registered in British Columbia, at any time in 2013 (and did not claim them on your 2012 tax return) or in the first 60 days of 2014 or you have unused venture capital tax credit from previous years.

-Mining exploration tax credit: You can claim this credit if you incurred qualified mining exploration expenses in the province in 2013. Unused mining credit can not be carried forward.

-Training tax credit: You can claim this credit if you completed an eligible program administered through the British Columbia Industry Training Authority.

Manitoba tax credit

 

-Line 5844 - Disability tax credit amount (for self) in Manitoba: You can claim $6,180 (equivalent of $667 as non-refundable tax credit ) if you are eligible to claim line 316 on federal form. If you are under 18 years of age, you can claim an additional amount of upto $3,605 (equivalent of $389 in non-refundablt tax credit) depending on your income.

-Line 5839 - Young Adult fitness amount: You can claim upto a maximum of $500 per young adult (for yourself and your spouse) for registration fees paid in the year if you are under 25 years at the end of the year. You can also claum this for child under 18 years of age. Young adult fitness credit is not available for any other province. This can not be carried forward.

-Manitoba mineral exploration tax credit: You can claim this credit if you invested in flow-through shares and Manitoba mining flow-through share expenditures have been renounced to you. Check box 144 on your T101 slip. You can carry forward unused credit to future year. You can also carry back to previous 3 years.

-Fertility treatment tax credit: You can claim this credit if you or your spouse or common-law partner incurred eligible medical expenses for fertility treatment and paid them in 2013.

New Brunswick tax credit

 

-Line 5844 - Disability tax credit amount (for self) in New Brunswick: You can claim $7,600 (equivalent of $714 as non-refundable tax credit ) if you are eligible to claim line 316 on federal form. If you are under 18 years of age, you can claim an additional amount of upto $4,434 (equivalent of $416 in non-refundablt tax credit) depending on your income.

-Labour-sponsored venture capital fund tax credit: You can claim upto $2,000 for this credit if you have received Certificate NB-LSVC-1 for your investment in a labour-sponsored venture capital corporation, at any time in 2013 (and did not claim them on your 2012 return) or in the first 60 days of 2014.

-Small business investor tax credit: You can claim this credit if you have received Certificate NB-SBITC-1 for your investment in a small business or you have unused Small business investor tax credit from previous years.

Newfoundland and Labrador tax credit

 

-Line 5844 - Disability tax credit amount (for self) in Newfoundland and Labrador: You can claim $5,703 (equivalent of $439 as non-refundable tax credit ) if you are eligible to claim line 316 on federal form. If you are under 18 years of age, you can claim an additional amount of upto $2,684 (equivalent of $207 in non-refundablt tax credit) depending on your income.

-Line 5830 - Volunteer firefighters' amount: You can claim the same amount here which you claimed on line 362 of schedule 1.

-Labour-sponsored venture capital fund tax credit: You can claim upto $2,000 for this credit if you have received Certificate NL-LSVC-1 for your investment in a labour-sponsored venture capital corporation at any time in 2013 (and did not claim them on your 2012 return) or in the first 60 days of 2014.

-Direct equity tax credit: You can claim this credit if you have received Certificate NL DETC-1 for your investment in eligible shares or you have unused direct equity tax credit from previous years. Unused credit can be carried forward upto 7 years and it can be carried back upto 3 years.

-Resort property investment tax credit: You can claim this credit if you have received Certificate NL RPITC for your investment in eligible shares or you have unused resort property investment tax credit from previous years. Unused credit can be carried forward upto 7 years and it can be carried back upto 3 years.

Nova Scotia tax credit

 

-Line 5844 - Disability tax credit amount (for self) in Nova Scotia: You can claim $7,341 (equivalent of $645 as non-refundable tax credit ) if you are eligible to claim line 316 on federal form. If you are under 18 years of age, you can claim an additional amount of upto $3,449 (equivalent of $303 in non-refundablt tax credit) depending on your income.

-Labour-sponsored venture capital fund tax credit: You can claim upto $2,000 for this credit if you have received Certificate NSLSV for your investment in a labour-sponsored venture capital corporation, at any time in 2013 (and did not claim them on your 2012 return) or in the first 60 days of 2014.

-Direct equity tax credit: You can claim this credit if you have received Certificate NSETC-1 for your investment in eligible shares or you have unused direct equity tax credit from previous years.

-Graduate retention rebate: You can claim this rebate if you graduated from an approved post-secondary institution after December 31, 2008.

-Nova Scotia volunteer firefighters and ground search and rescue tax credit: You can claim $500 in tax refund if you were a volunteer firefighter or a ground search and rescue volunteer for a minimum of six months in 2013 and did not receive any salary/wages for your work.

Ontario tax credit

 

-Line 5844 - Disability tax credit amount (for self) in Ontario: You can claim $7,735 (equivalent of $391 as non-refundable tax credit ) if you are eligible to claim line 316 on federal form. If you are under 18 years of age, you can claim an additional amount of upto $4,511 (equivalent of $228 in non-refundablt tax credit) depending on your income.

-Ontario healthy homes renovation tax credit: You can claim upto $10,000 for this credit if you incurred eligible home renovation expenses in 2013 to your principal residence or the land on which your principal residence is situated and you are a senior (older than 65) or living with a senior relative. You get 15% of eligible expense as rebate in terms of tax credit. If an eligible expense also qualifies as a medical expense, you can claim both medical expenses and the Ontario healthy homes renovation tax credit for that expense.

-Ontario focused flow-through share tax credit: You can claim this credit for qualifying expenses in a mining operation in Ontario.

Ontario trillium benefit(OTB): Based on your net income, you may be eligible for Ontario trillium benefits if you live in Ontario. It includes the Ontario sales tax credit, the Ontario energy and property tax credit, and the Northern Ontario energy credit. To get Ontario sales tax credit, you (or your spouse, if applicable) must apply for GST/HST credit while filing your tax return. To get Ontario energy and property tax credit, and the Northern Ontario energy credit, you have to apply under Ontario trillium benefit. Both spouses can claim Ontario trillium benefit if they occupied separate principal residences on December 31, 2013 for medical reasons. You can now elect to receive your 2014 Ontario trillium benefit in one payment in June 2015 instead of receiving it monthly from July 2014 to June 2015. If dependents have income, they should file their own return to claim applicable Ontario trillium benefit.

-Ontario senior homeowners' property tax grant : You need to apply for the Ontario senior homeowners' property tax grant (OSHPTG) if, on December 31, 2013: you were 64 years of age or older; and you owned and occupied a principal residence in Ontario, for which you or someone on your behalf paid property tax for 2013.

Prince Edward Island tax credit

 

-Line 5844 - Disability tax credit amount (for self) in Price Edward Island: You can claim $6,890 (equivalent of $675 as non-refundable tax credit ) if you are eligible to claim line 316 on federal form. If you are under 18 years of age, you can claim an additional amount of upto $4,019 (equivalent of $394 in non-refundablt tax credit) depending on your income.

-Line 5850 - Teacher school supply amount: Teacher( or a member of the program staff of an early learning and child care centre) can claim up to $500 of eligible school supplies expenses on their income tax return in Prince Edward Island. Expense for school supplies is not tax deductible in any other province (BC, AB, NS,NL,ON,MB,SK,NB). This is not a deduction to reduce your income. Instead, it gives you a non-refundable tax credit of up to $49 to reduce your tax amount.

-Equity tax credit: You can claim upto $7,000 for this credit if you have received Certificate PE-ETC for your investment in eligible shares at any time in 2013 (and did not claim them on your 2012 return) or in the first 60 days of 2014 or you have unused equity tax credit from previous years. You can carry forward unused credits seven years.

-PEI volunteer firefighter tax credit: You can claim $500 here if you claimed an amount on line 362 of schedule 1.

Saskatchewan tax credit

 

-Line 5844 - Disability tax credit amount (for self) in Saskatchewan: You can claim $8,979 (equivalent of $988 as non-refundable tax credit ) if you are eligible to claim line 316 on federal form. If you are under 18 years of age, you can claim an additional amount of upto $8,979 (equivalent of $988 in non-refundablt tax credit) depending on your income.

-Line 5822 - Senior supplementary amount: You can claim $1,226 for this credit if you were 65 years of age or older in 2013.

-Line 5837 - Home buyers' amount: You can claim an amount of $10,000 for the purchase of a qualifying home made after December 31, 2012 (closing after this date) if you are eligible to claim an amount on line 369 of schedule 1 and your house is registered in Saskatchewan.

-Saskatchewan farm and small business capital gains tax credit: If you reported capital gains in 2013 from the disposition of qualified farm property or qualified small business corporation shares, you might be eligible for this tax credit.

-Royalty tax rebate: You can claim this credit if you had any unused amount of Saskatchewan royalty tax rebate shown on your notice of assessment for 2012.

-Labour-sponsored venture capital fund tax credit: You can claim upto $1,000 for this credit if you have received slip T2C (Sask.) for your investment in a labour-sponsored venture capital corporation at any time in 2013 (and did not claim them on your 2012 return) or in the first 60 days of 2014.

-Saskatchewan employee's tools tax credit: You can claim this credit if you were required to provide eligible tools for use in an eligible trade occupation as a condition of your employment. Credit amount varies by trade group.

-Saskatchewan mineral exploration tax credit: You can claim this credit if you have received SK-METC (Mineral Exploration Tax Credit Certificate)for 2013 from mining exploration corporations that incurred qualifying expenses in Saskatchewan for your investment in eligible shares or you have unused mineral exploration tax credit from previous years. Unused mining credit can be carried forward upto 10 years and it can be carried back upto 3 years.

-Saskatchewan graduate tuition tax credit: You can claim this credit if you completed an eligible program at an eligible educational institution; and obtained a Graduate Retention Program Eligibility Certificate from the Saskatchewan Ministry of Advanced Education. If you do not need all your Saskatchewan graduate tuition tax credit to reduce your 2013 provincial tax to zero, you can claim the unused credit as the Saskatchewan graduate tuition refund for 2013.

We have consolidated other tax credit questions asked by Canadian taxpayers like you. If you do not find an answer, ask us and we will add it for you.

 

Can Canadian senior claim living expenses paid to family member?

No, there is no such credit.

 

Can both spouses apply for the Ontario Trillium Benefits(otb)?

Yes, both spouses can claim Ontario trillium benefit if they occupied separate principal residences on December 31, 2013 for medical reasons.

 

Can disability for self be claimed under federal and ontario?

Yes. Once you enter the details for disability in Credit tab, program will automatically calculate the credit for both federal and provincial form.

 

Can grandparents claim childrens fitness amounts on income tax in Saskatchewan?

No, only parents can claim this.

 

Can I claim a tax deduction for a disabled dependent who I supported for part of a year in canada?

Yes, you can claim disability credit as long as dependent was present in Canada at any time during the tax year and meets all other requirements.

 

Can I claim additional deduction for children under the northern residents allowance?

No, there is no addition deduction for children under northern residents allowance.

 

Can I claim Alberta income tax if living in NS?

Yes, if you were living in Alberta on 31st Dec of the tax year.

 

Can I claim investment expenses for foreign dividend paying stocks in canada?

If you have those stocks in a non-registered account in Canada, you can claim investment expenses.

 

Can I claim kids school supplies, uniforms in Ontario?

No, there is no such credit.

 

Can I claim my childs sports registration as a tax deduction?

Yes, you can claim sports registration fee as children fitness credit or art credit depending on the type of program.

 

Can I claim my son who is 19 as a dependant in Ontario?

You can claim your 19 year old son as dependent if you did not support your spouse and your son has a mental or physical impairment.

 

Can I claim travel amount if I do not claim Northern residents deduction?

No, there is no separate claim for only travel amount. It has to be claimed together with Norther residents deduction.

 

Can I get paid for caring for my parents in Newfoundland?

Not directly. You can claim certain dependent tax credit for taking care of your parents.

 

Can I use tuition deductions transferred from child for tax refund?

Yes, you get non-refundable tax credit for the transferred amount.

 

Can my permanent residence be NL and work in Alberta and claim northern living allowance?

Yes, you can claim northern resident deduction if you lived in a prescribed zone for a continuous period of at least six consecutive months..

 

Can parents claim for school supplies on family allowance?

No, there is no such tax credit.

 

Can person paying child support claim dependent?

Yes, dependent claim can also be split with spouse or can be claimed by one of the parents.

 

Can Saskatchewan teachers claim purchases as tax deductible?

No, teacher school supply amount is available as tax deductible only for Prince Edward Island taxpayers.

 

Can teachers claim buying their own supplies on income tax?

Yes. PEI teachers can claim this on their income tax return.

 

Can you buy RRSP for a family member and get the tax credit in British Columbia?

You can buy RRSP for your spouse and claim tax credit on your tax return as long as it is still within your available RRSP limit. You can not claim this for any other family member.

 

Can you claim a child for spousal (dependent) amount as well as child tax credit in Nova Scotia?

Yes, you can claim both dependent amount as well as child tax credit for your child if you are not claiming spousal amount for your spouse.

 

Can you claim a dependent child older than 18 years in college (post secondary) as equivalent to spouse canada?

You can claim your child as dependent if you are not claiming spousal amount and your child is either 18 years of age or has a physical or mental impairment.

 

Can you claim active family benefit if you claimed it on line 365?

Yes, active family benefit is provincial tax credit and can be claimed for the same expense claimed on line 365.

 

Can you claim baby clothing on your taxes for 2013 in ontario?

No, there is no such tax credit.

 

Can you claim first 60 days of tuition in previous tax year?

No, tuition expense must be paid in tax year.

 

Can you claim line of credit interest on taxes in canada?

Yes, you can claim these interest as carrying charges for investment if you have used the money to buy investment and expect income out of the investment.

 

Can you claim northern tax allowance in nfld?

Yes, taxpayers residing in any of the prescribed zones in Alberta, BC, Manitoba, Newfoundland and Labrador, Nova Scotia, Ontario, Quebec, SasKatchewan, Yukon, Nunavut and Northwest territories can claim northern tax allowance.

 

Can you claim permanent residence legal fees on tax return in Canada?

No, there is no tax credit for this.

 

Can you claim the same child for 305 and 367 in BC?

Yes, you can claim it in all provinces.

 

Can you claim your child as a dependent and have them file income tax in canada?

Yes. Your dependent credit amount will be reduced by the income of your child.

 

Can you claim tuition if EI funds you?

Yes once you receive your T2202 forms from your institute.

 

Can a dependent on someone else tax return claim the first time homebuyer credit?

Anyone can claim first time homebuyer credit on their own tax credit if they meet the eligibility criteria.

 

Do I have to use my tuition amount for deduction when I have more than enough donation?

No, you can transfer upto $5000 to your parent/grandparents/spouse/common-law partner. You can also carry forward the unused tuition amount indefinitely for future tax years.

 

My net income is nil. Should I claim home buyer amount?

There is no tax benefit for you for claiming home buyer amount if you have no income. Your spouse can also claim the home buyer amount.

 

My elderly parent moved to live with me. Can we deduct the moving expenses?

No. You can only claim moving expenses if you moved for employment or attending a school.

 

Can each spouse claim the basic Ontario tax reduction?

Yes, each spouse can claim the basic Ontario tax reduction. However, reduction for dependent children and dependent with medical or physical infirmity can be claimed by the spouse with higher net income.

 

Can you carry over support payments to next tax year?

No, you have to report all support payments received in the current tax year.

 

Can you carry forward unused medical amount?

Not directly. However, CRA allows you to pick any 12 month period for medical amount claim as long as it ends in the tax year. You can adjust the period to carry forward your medical amount by at least 364 days.

 

Can I claim both the federal fitness amount and the Ontario fitness amaount with the same money?

Yes.

 

Does claiming parents as dependents reduce their pension in British Columbia?

No. However, dependent credit amount is reduced by their pension income.

 

Does the SK graduation tax credit just reduce your tax payable or is it a 2000.00 reimbursement?

First, it reduces your tax payable and left over tax credit is returned to you as income tax refund.

 

How do I claim my child on my tax return?

Enter your child as family member in profile tab with correct date of birth and our program will calculate the eligible age related tax credit. For other credits, you will have to enter specific amount in Credit tab.

 

How much tax refund would I get for unused federal and ontario tuition education amount?

Unused tuition amount gives you non-refundable tax credit which will reduce your tax owing and increase your tax refund. Actual refund amount will depend on your income and unused tuition amount.

 

How do I use the provincial tuition credit when I moved from Ontario to Alberta or NL to NS?

Schedule 11 of the province explains the usage of unused provincial tuition credit from another province. S11 for Alberta allows you to use unused federal tuition amount as unused provincial tuition amount irrespective of which province you moved from.

 

If I have more than one T4, do I combine them on my Canadian tax?

No. You should enter each T4 separately. Our program will combine and calculate your tax return appropriately.

 

If I work in Alberta but went to school in New Brunswick, how do I claim on income tax?

S11 for Alberta allows you to use unused federal tuition amount as unused provincial tuition amount irrespective of which province you moved from.

 

If you have a $10,000 carry-forward student loan credit amount, how do you calculate your actual tax savings??

Tax credit is available for the interest paid on student loan. If you paid 5% interest on the loan, you will get a tax credit of $75 (15% of $500) to reduce your tax owing.

 

If your 2013 net income is less than 11038, do you claim the amount or transfer to your spouse?

There is no need to transfer anything. Your spouse can claim a spousal amount of 11,038 minus your net income.

 

I am no longer in school but still have unused tuition tax credit. How do I claim that?

You can carry forward your unused tuition tax credit indefinitely for future tax years and claim tax credit against your future income.

 

How much tuition can be claimed per year from previous years?

There is no maximum limit on claiming unused tuition amount. You should report all unused tuition credit and program will use the applicable credit and leave the remaining tuition credit to be used for future years.

 

How do you claim your children on scedule one and form 428?

You need to enter your child details under profile as family member. Our program will apply the eligible age related credit for schedule one and form 428 and show you in tax summary.

 

Source: https://www.fastneasytax.com/ca/canada-income-tax-credit-and-deduction

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