GST/HST Payment Dates 2015: (if you qualify based on the information on your 2012 income tax return.)
Please note that GST/HST Cheque Dates are generally issued on the 5th day of each quarter. To be eligible for GST/HST Payment benefits:
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Property Tax Credit:
You cannot claim a Property Tax Credit for more than one Ontario residence, such as a house and a cottage, for the same period. However, you can claim more than one principal residence if you have lived in more than one at different times in the year, and your total period of principal residence occupancy does not exceed 12 months. If you rent out part or all of your principal residence, you can claim a property tax credit only for the part of the residence in which you live and for the time you actually lived in the residence.
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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.
If a child qualifies for the disability tax credit, parents can claim up to $500 per year in eligible fitness expenses paid for the child who is under 18 years of age at the beginning of the year. Also, if at least $100 in eligible fitness expenses has been paid for the child, an additional amount of $500 can be added to the eligible fitness expenses actually incurred.
Please note that the child fitness tax credit will be calculated using the lowest tax rate (15% for 2008), so the maximum tax credit per child for 2008 will be $75.
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GST Payment Dates 2012: (if you qualify based on the information on your 2011 income tax return.)
Please note that GST payment schedule are generally issued on the 5th day of each quarter. To be eligible for GST/HST Tax Credit benefits:
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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.
You can receive the working Income Tax Benefit (WITB) if you are:
Visit here for more detail information.
Working Income Tax Benefit (WITB) Payments Dates:
Please note that The 2009 Federal Budget will increase funding for the WITB. However, advance payments for 2010 will be based on the 2009 rates.
| 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 Québec), 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. Other Child Care Tax Credit and Benefit Programs:
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In cases of separation or divorce, the credit must be claimed by the primary caregiver (generally the recipient of the Canada Child Tax Benefit).
]]>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:
Please note that you should claim the total medical expenses for both you and your spouse or common-law partner on one tax return. You can claim the medical expenses on either spouse’s tax return. If both spouses have taxable income, it is usually better to claim the medical expenses on the return with the lower net income.
This is because the lesser of $1,925 (federal, for the year – see the tables of non-refundable tax credits for provincial/territorial amounts) or 3% of net income is deducted from the medical expenses to determine the amount to be used for the tax credit. However, if the lower income spouse does not have enough tax payable to offset the medical expense tax credit, it may be beneficial to move the expenses to the higher income spouse.
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For more information on these programs, see the Canada Revenue Agency (CRA) Child and Family Benefits web page.
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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.
Prior to 2006, if you were eligible to claim the education amount, then the first $3,000 of scholarships, fellowships, bursaries, study grants and artists’ project grants were not taxable. Your T4A slips reported the total scholarships or awards. You totalled the T4A slips, then reported this total less $3,000 (or zero if your awards total less than $3,000) on the tax return.
The education amount tax credit can be claimed for each whole or part month in which you were enrolled in a qualifying program at a designated educational institution. The educational institution must provide either a T2202 Education and Textbook Amounts Certificate, or a T2202A Tuition, Education and Textbook Amounts Certificate. The certificate will show the number of months you were enrolled in a qualifying educational program or a specified educational program. The amount that can be claimed is $400 per month for full time enrollment, or $120 per month for part time enrollment.
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