TAx Cuts

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amit13774
Member since: Nov 03

Posts: 127
Location: brampton
Post ID: #PID

Posted on: 14-02-10 15:39:51

Hi,
I know many of the CD members might be aware of the tax cuts for 2009, but I thought of jotting down some for the benefit of those who might not be aware of it.

1) Line 364 - Public transit amount
More Info - http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/rtrn/cmpltng/ddctns/lns360-390/364-eng.html

2) Home Renovation Tax Credit (HRTC) Only available for the 2009 tax year.

More info - http://www.cra-arc.gc.ca/tx/ndvdls/sgmnts/hmwnr/hrtc/menu-eng.html

3) Line 369 - Home buyers' amount

More info - http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/rtrn/cmpltng/ddctns/lns360-390/369/menu-eng.html

4) Line 365 - Children's fitness amount

More info - http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/rtrn/cmpltng/ddctns/lns360-390/365/menu-eng.html

5) Deduction for tools

More info - http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/rtrn/cmpltng/ddctns/lns206-236/229/trds/tlddctn-eng.html

6) Pension income splitting

More info - http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/pnsn-splt/menu-eng.html

Other Tax credits and benefits for individuals are available at
http://www.cra-arc.gc.ca/tx/ndvdls/ndvdls-txcrdts-eng.html

Feel free to add to the list.

Amit. Shah

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Amit Shah
Financial Advisor
Cell : 647-296-2609

bobby29
Member since: Apr 05

Posts: 16
Location:
Post ID: #PID

Posted on: 15-02-10 21:28:21

Amit do you know how much tax break we can get if kids go to babysitters.
lets say if one spends 10k in 2009 how much will they get back.

sun.life
Member since: Sep 09

Posts: 31
Location:
Post ID: #PID

Posted on: 16-02-10 09:10:44

Do you have proper documentation for babysitter services.. Did u pay cash or checks? Do you have social insurance number of Babysitter. If Yes, then only the lower earner in the family can claim those expenses except for some special circumstances and It all based on total income for the year.

Thanks,

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