Tax Tips
Tax time can be frustrating and we understand how confusing Canadian tax legislation can be. This page provides various links to the Canada Revenue Agency, Ontario Ministry of Finance, and Niagara Region outlining various income tax deductions, income tax credits, and benefit programs that may be available to you.
- 2024-Canadian-Tax-Checklist – what to bring
- Basic Personal Amount (tax-free earnings) increased to $15,000
- Digital News Subscription tax credit (DNSTC)
- Tax-Free First Home Savings Account
- First Time Home Buyer’s Credit – up to $1500 for eligible buyers
- Multigenerational Home Renovation Tax Credit – up to $7500
- What you can deduct – current eligible tax deductions from the CRA
- Climate Action Incentive credit payment
- What’s new for businesses including passive investment income rule
- Tax on Split Income (TOSI) – income sprinkling restrictions
- Reporting the sale of your principal residence
- The Canada Child Benefit (CCB)
- Student deductions – claiming interest on student loans
- Canada Caregiver Amount and the Disability Tax Credit
- Moving expense deduction for job or education related moving costs
- Eligible deductible medical expenses
- Home Buyer’s Tax Credit – $10,000 for the purchase of a qualifying home
- Tax Free Savings Account (TFSA) information – 2024 limit is $7000
- RRSP and RRIF retirement savings topics
- Seniors and taxes – tax topics and services for the elderly
- Tax savings measures such as pension income splitting
- CRA telephone numbers, CRA site map and E-services
- CRA Quick Access for basic tax information and your contribution limits
- CRA on YouTube – comprehensive videos covering a range of tax topics
- Ontario credits, benefits and incentives for single people and families and for businesses
- Ontario Child Benefit – direct financial support for low to moderate income families
- Ontario Senior Homeowner’s Property Tax Grant to help seniors with their property taxes
- Ontario Trillium Benefit to help people with lower incomes pay for energy costs, sales and property taxes
- Tax credit, benefit and assistance programs for all Ontarians
- Service Ontario for convenient online services such as change of address and license renewals
- Low Income Family/Individual Non-Refundable Tax Credit
- Ontario Childcare Access and Relief from Expenses (CARE) Refundable Credit
- Niagara Region website for business and resident programs and services
- Property Taxes in the Niagara Region to calculate property tax and learn how your property is assessed
- Property Tax Relief Programs for residents of the Niagara Region including vacant and heritage properties