In 2014, the full age amount you can claim on line 301 on Schedule 1 is $6,916 giving you a tax credit of $1,037.40. However, the age amount you are able to claim is reduced by 15% of your net income (at line 236 of your tax return) in excess of $34,873. The age amount will…
Month: February 2013
How much age amount you can claim on line 301 for 2013
In 2013, the full age amount you can claim on line 301 on Schedule 1 is $6,854 giving you a tax credit of $1,028. However, the age amount you are able to claim is reduced by 15% of your net income (at line 236 of your tax return) in excess of $34,562. The age amount will…
How much age amount you can claim on line 301 for 2012
In 2012, the full age amount you can claim on line 301 on Schedule 1 is $6,720 giving you a tax credit of $1,008. However, the age amount you are able to claim is reduced by 15% of your net income (at line 236 of your tax return) in excess of $33,884. The age amount will…
What is age amount
Age amount is an extra credit to seniors. You qualify for age amount if you were 65 years of age or older on December 31 of the year you file your tax return.
How much is amount for an infirm dependant aged 18 or older for 2014?
In 2014, the full amount for infirm dependants age 18 or older is $6,589, which includes the $2,058 family caregiver amount, providing you with a maximum tax credit of $988.35 (15% of $6,589). The credit is a non-refundable tax credit. The amount is reduced dollar by dollar by your dependant’s net income (line 236 of his or…
What is amount for infirm dependants age 18 or older
To claim amount for infirm dependants age 18 or older, the dependant must have been dependent on you, or on you and others, by reason of physical or mental impairment.
How to report your commission income and claim your expenses on your tax return?
As a salesperson, you can either be classified as an employee earning commission income or as a self-employed commission salesperson. How to report your commission income and claim your expenses on your tax return depends on which category you are in.
What is caregiver amount?
If, at any time during the year, you (either alone or with another person) maintained a dwelling where you and one or more of your dependants lived, you may claim this credit for each dependant.
The due dates to file income tax returns for deceased persons – optional returns
The legal representative has to file a final return for the deceased for the year of death. Additional up to three optional returns may be filed to save tax. Here are the due dates for filing optional returns.
The due dates to file income tax returns for deceased persons – final return
The legal representative has to file a final return for the deceased for the year of death. And up to three optional returns may be filed to save tax.