The Canadian Disability Tax Credit is an important tax credit for Canadians with disabilities. The DTC allows you to claim credits, deductions and benefits.
Canada PRO deposit programs in Ontario The Ontario Trillium Benefit, or OTB, is a common PRO deposit for residents of Ontario. The OTB is actually a combined payment of three individual benefits: the Ontario Energy and Property tax credit, the Northern Ontario energy credit, and the Ontario sal...
If you are also getting the Child Disability Benefit (CDB) as part of the CCB, your child must be eligible for the disability tax credit. Is Canada FPT Taxable? Canada FPT payments are non-taxable benefits (i.e. tax-free). For the GST/HST credit, your net income from line 23600 (si...
The elderly and disabled can receive a tax credit that could reduce and even potentially eliminate the tax they owe for the entire year. Here's how to figure out if you qualify.
Erica SandbergJan. 7, 2025 Tax Rules for Giving or Getting Cash Rules and reporting requirements depend on whether the cash is income or a gift, how much money changes hands and if you're the giver or receiver. Maryalene LaPonsieJan. 6, 2025...
The basic limit for child-care expenses are: $8,000 for each child under 7 years of age at the end of the year $5,000 for each child between 7 and 16 years of age $11,000 for each child who qualifies for the disability tax credit ...
If the credit completely eliminates your tax bill, and some credit is still left over, you can actually get a cash refund for the remaining amount. To help you find out if you qualify, TurboTax asks simple questions so you can get the largest possible credit. Tests for qualifying First you...
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including the Canada Child Benefit (CCB). This benefit is a tax-free monthly payment made to eligible families to help with the cost of raising children up to 18 years of age. Payments through the CCB might include the Canadian child disability benefit and any related provincial and territorial...
Old Age Security (OAS), one of the three types of pension plans in Canada, is funded by general tax revenues, unlike Social Security in the U.S. The Canada Pension Plan is funded by payroll taxes, much like Social Security in the U.S. ...