If you receive a grant from a federal, provincial or other government body that is assistance for a SR & ED expense, the grant will reduce the claimable SR & ED expense amounts on the tax return. This can, in effect, increase your tax payable.
The Canada Child Tax benefit, which is provided in order to support those eligible with expenses of rearing children below the age of eighteen, is non-taxable. This means no tax is required to be paid on receipt of this benefit.
According to the CRA, in order for an individual to be qualified to receive the Canada Child Tax Benefit, all the criteria listed below must be met: Child has to be below eighteen years of age; Individual has to reside with the child , be the primary caretaker of the child, and be a Canadian … Continue reading Who is eligible to receive the Canada Child Tax Benefit?
Canadians leaving Canada need to complete their final personal tax return by April 30th of the year following their departure. Any departure tax would be reported on this tax return. Canada imposes a departure tax on individuals who cease to be a tax resident in Canada. When an individual leaves Canada, he is deemed to … Continue reading What is the departure tax return?
You can only claim it if you were supporting your partner during the year and if the partner’s net income for the year is below $11,038 (2013). If you are also claiming the family caregiver amount, then the partner’s net income has to be below $13,078 (2013). If you and your partner ended your relationship … Continue reading Can I claim the spousal/common-law partner amount?