From the Tax blog
Canada Caregiver Credit and Who is eligible?
If you’re supporting a family member with a disability, the extra financial responsibility of being a caregiver can have a big impact on your budget. To help offset some of the cost, CRA has introduced the Canada Caregiver Amount. If you qualify, you could be in line for a tax break. Here’s what you need […]
First Time Home Buyer Credit?
The Home Buyer Tax Credit is a non-refundable credit that allows first time home buyers who acquire a qualifying home during the Tax year may be entitled to claim a federal non-refundable tax credit up to $5000 and worth $750 (5000 x 15%). To qualify, neither the individual nor his or her spouse or common-law […]
What is DTC (Disability Tax Credit Program)and Who is Eligible?
According to the CRA, the Canadian Disability Tax Credit is a non-refundable tax credit that helps persons with disabilities or their caregivers reduce the amount of income tax they have to pay. This Canadian disability benefit creates greater tax equity by providing relief for disability costs. A person with a severe and prolonged impairment in […]