Claim your eligible moving expenses If you moved for your post-secondary studies and you are a full-time student, you may be able to claim moving expenses. These expenses can only be deducted from the part of your scholarships, fellowships, bursaries, certain prizes, and… {Read more}
Tag: small business
Student savings – GST/HST credit
GST/HST credit If you are turning 19 before April 1, 2015, you may be eligible for the GST/HST credit. The CRA will determine your eligibility when you file your 2014 income tax and benefit return and will send you a notice of determination… {Read more}
Student savings – Child care expenses
Claim your child care expenses If you pay someone to look after your child while you go to school, you may be able to deduct child care expenses. The deduction will vary depending on whether the student is enrolled in… {Read more}
Students Savings – Education amount
Claim the education amount As a full-time student (or a part-time student who can claim the disability amount or has a certified mental or physical impairment), you can claim $400 for each month you were enrolled in an educational institution. As a… {Read more}
Student savings – Public transit amount
Claim the public transit amount Public transit passes may be claimed. Keep your transit passes for local buses, streetcars, subways, commuter trains, and local ferries, and enter your total public transit amount on line 364 of Schedule 1, Federal Tax.
Student savings – Text book amount
Claim the textbook amount Claim this amount only if you are entitled to claim the education amount. You can claim: $65 for each month you qualify for the full-time education amount. Enter this amount on line 7 of Schedule 11; or $20… {Read more}
Minister Findlay Golden Scissors Award winner
Minister Findlay named CFIB’s 2015 Golden Scissors Award winner Government of Canada continues to champion red tape reduction for the benefit of small business January 23, 2015 – Vancouver, BC – Canada Revenue Agency The Canadian Federation of Independent Business… {Read more}
Life Events that impact your taxes – Getting Married
Life events can have an impact on your taxes If your marital status changes, it’s important to let the Canada Revenue Agency (CRA) know as soon as possible. Getting married Change your marital status – You can change your marital status… {Read more}
Life events that impact your taxes – Getting Divorced
Life events can have an impact on your taxes If your marital status changes, it’s important to let the Canada Revenue Agency (CRA) know as soon as possible Getting divorced Change your marital status – If your marital status changes… {Read more}
Life events that impact your taxes – Having a baby
Life events can have an impact on your taxes Having a baby If you have a new baby or have a baby on the way, there are plenty of credits and benefits you may be entitled to receive. Applying is… {Read more}