Refundable medical expense supplement is a refundable tax credit for working individuals with low income and high medical expenses.
How much is refundable medical expense supplement 2012
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Month: February 2014
How to calculate allowable amount of medical expenses for other dependants at line 331 – an example – 2012
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When you claim medical expense credit for other dependants at line 331, each dependant’s allowable amount has to be calculated separately. You can only claim the expenses in excess of the lesser of $2,109 and 3% of the dependant’s net income, whichever is less. Example [For year 2012 tax return] John and his wife Helen live…
How much is caregiver tax credit for 2013
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In 2013, the full caregiver amount is $4,490 providing you with a maximum tax credit of $673.50 (15% of $4,490). 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 her tax return) excess of $15,334. It expires where the dependant’s income is…
How much is caregiver tax credit 2012
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In 2012, the full caregiver amount is $4,402 providing you with a maximum tax credit of $660.30 (15% of $4,402). 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 her tax return) excess of $15,033. It expires where the dependant’s income is…
Eligibility of caregiver tax credit
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To qualify you for caregiver amount, you dependant must be one of the following individuals:
Penalty for late-filed information returns
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The late-filing penalty for certain information returns (slips) is the greater of $100 or a penalty determined as follows:
Eligibility of children’s arts tax credit
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To be eligible for children’s arts amount, the child must have been under age 16 (under 18 if the child is eligible for disability tax credit) at the beginning the year in which an eligible arts expense was paid.