QUOTE
Why does a slight tax increase cost you two hundred dollars and a substantial tax cut save you thirty cents?
|
Tax Cuts & Credits at Your Fingertips
-
you can claim up to $500 of the money spent on these activities per child.
-
Parents can now claim money spent on programs that focus on fine arts, music, performing arts, outdoor wilderness training, learning a language, studying a culture, tutoring, and more.
-
You can get a non-refundable tax credit of up to $750.
-
You can get a non-refundable tax credit of 15%.
-
You can split up to 50% of your eligible pension income with your spouse or common-law partner.
-
Deduct up to $500 from your net income.
-
For volunteer firefighters who have served a minimum of 200 hours of eligible volunteer firefighter services with one or more fire departments in the year.
-
Effective January 1, 2011, either the tax credit for volunteer firefighters or the income tax exemption (up to $1,045 for 2011) applicable to financial compensation may be claimed on a volunteer firefighter's income tax return.
-
On July 1, 2011, the solidarity tax credit took effect, thereby replacing the QST credit, the property tax refund and the credit for individuals living in northern villages. To receive the credit, you must be registered for direct deposit.
These are just a few tax cuts and credits we think you might like to know about. We will keep you posted on any new cuts and credits as they become available.
|