GST/HST Cheque Dates 2015 | GST Payment Schedule

The GST/HST Tax credit is a tax-free quarterly payment that helps individuals and families with low and modest incomes offset all or part of the GST or HST that they pay.

GST/HST Payment Dates 2015:

Property Tax Credit Ontario Canada

The refundable property tax credit provides assistance for people with low to moderate incomes who own or rent a principal residence in Ontario.

Property Tax Credit:

  • Based on occupancy cost – property tax paid, or 20% of rent paid.
  • The basic property tax credit for individuals under age 65 is $250.
  • The basic property tax credit for individuals age 65 or older is $625.
  • Credit would not exceed occupancy cost, and would be subject to a maximum of $900 for non-seniors and $1,025 for seniors.
  • Adjusted by 2% of adjusted family net income over $20,000 for single people and over $25,000 for families.
  • Refundable, and claimed on the personal income tax return, beginning with the 2010 return.

Child Fitness Tax Credit Canada

Child Fitness Tax Credit Canada

Starting with the 2007 tax year, the Government of Canada allows a non-refundable tax credit based on eligible child fitness expenses paid up to $500 per child by parents to register a child in a prescribed program of physical activity.

The children’s fitness tax credit lets parents claim up to $500 per year for eligible fitness expenses paid for each child who is under 16 years of age at the beginning of the year in which the expenses are paid.

GST Payment Dates 2012 | GST/HST Payment Schedule

The GST Tax credit is a tax-free quarterly payment that helps individuals and families with low and modest incomes offset all or part of the GST or HST that they pay.

GST Payment Dates 2012:

Low Income Tax Credit | Working Income Tax Benefit

Working Income Tax Benefit for Low Income Tax Credit:

The working Income Tax Benefit (WITB) is a refundable low income tax credit intended to provide tax relief for eligible working low income individuals and families who are already in the workforce and to encourage other Canadians to enter the workforce. You can claim the WITB on line 453 of your Income Tax and Benefit Return.

Child Care Tax Credit | Day Care Tax Credit Canada

Child Care Tax Credit | Day Care Tax Credit Canada

Child care costs are not claimed as a non-refundable tax credit, but as a deduction from income on line 214 of the personal tax return. A non-refundable tax credit is always at the lowest tax rate (except in Qu├ębec), but a reduction of income would save tax at the taxpayer’s marginal tax rate.

Eligible Child Care Expenses include day-care centres and day nursery schools, some individuals providing child care services, day camps and day sports schools, educational institutions such as private schools (the portion of tuition costs relating to child care services), boarding schools, and overnight sports schools and camps.

Sales Tax Credit Ontario Canada

Sales Tax Credit:

  • The basic sales tax credit is $100.
  • The additional credit for your spouse or common-law partner is $100.
  • Reduced by 4% of adjusted family net income over $20,000 for single people, and over $25,000 for families.
  • Refundable and paid quarterly, starting July 2010.

Medical Expenses Tax Credit Canada

The medical expense tax credit applies to individuals who have sustained significant medical expenses for themselves or certain of their dependants.

To qualify for the medical expense tax credit, the medical expenses must have been paid or deemed to have been paid by either the individual or his or her legal representative for qualifying medical expenses as provided for in subsection 118.2(2) Furthermore, the medical expenses used in calculating a medical expense tax credit for a particular taxation year:

Family Tax Credit and Family Tax Benefit Canada

The federal and provincial governments have family tax credit and benefit programs which provide additional income for families, and for low-income individuals. These programs include

  • Canada Child Tax Benefit (CCTB)
  • Universal Child Care Benefit (UCCB)
  • National child Benefit (NCB)
  • Child Disability Benefit (CDB)
  • GST/HST credit

Education Tax Credit Canada

Education Tax Credit Canada

Starting with the taxation year, scholarship, bursary and fellowship income is fully exempt from tax when the income is received in connection with a program for which the student will get an Education Tax Credit. The income is not reported on the tax return.

If you are not eligible to claim the education tax credit, then only the first $500 of awards is tax free. Amounts received in excess of $500 are reported on line 130 of your tax return.