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
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.
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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