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Difference between revisions of "How Can I Save on My Taxes?"
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How Can I Save on My Taxes? (view source)
Revision as of 23:34, 20 March 2014
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* If you pay taxes as an individual and your taxable income is up to $20,000, you can get the maximum credit. | * If you pay taxes as an individual and your taxable income is up to $20,000, you can get the maximum credit. | ||
* If you have income above these amounts, you may be able to get part of the credit. | * If you have income above these amounts, you may be able to get part of the credit. | ||
The Universal Child Care Benefit is a payment for each child under the age of 6 years. This benefit is $100 per month per child. The government pays this benefit to all parents in Canada. You report it as income on income tax return. You should apply for this benefit as soon as possible after your child is born or after you become a resident of Canada. You apply for this benefit by completing the form, Canada Child Benefit Application. For details, go the Canada Revenue Agency website: [http://www.cra.ca www.cra.ca]. | |||
If your income is low, you may also be able to get the BC Low Income Climate Action Tax Credit. This is a payment to help you with the carbon tax you pay. Lower-income families can get $105 per adult and $31.50 per child each year. On July 1, 2011, the credit will increase by 10%. | If your income is low, you may also be able to get the BC Low Income Climate Action Tax Credit. This is a payment to help you with the carbon tax you pay. Lower-income families can get $105 per adult and $31.50 per child each year. On July 1, 2011, the credit will increase by 10%. | ||
