Canada Tax Credit » Refundable Tax Credits

GST/HST Cheque Dates 2015 | GST Payment Schedule

Tue, 04 Dec 2012 15:15:44 +0000

The GST/HST Tax credit is a tax-free quarterly payment that helps individuals and families with low and modest incomes offset all or part of the GST or HST that they pay.

GST/HST Payment Dates 2015: (if you qualify based on the information on your 2012 income tax return.)

January 5, 2015
April 5, 2015
July 5, 2015
October 5, 2015

Please note that GST/HST Cheque Dates are generally issued on the 5th day of each quarter.

To be eligible for GST/HST Payment benefits:

GST/HST payments are calculated based on the recipient’s net income added to the net income of his or her spouse or common-law partner, if applicable, minus any amount the recipient, his or her spouse or common-law partner reported for the Universal Child Care Benefit on your tax return.
The applicant must be 19 years of age or older, have (or previously had) a spouse or common-law partner, or be (or previously was) a parent and live (or previously lived) with their child.
To apply for the GST Tax credit, you must file a personal income tax return. Simply tick the GST/HST credit check box on the first page of your return. If you have a spouse, your tax return must provide information on your spouse’s social insurance number, first name, and net income amount (even if it is zero).

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Property Tax Credit Ontario Canada

Thu, 16 Sep 2010 19:51:10 +0000

The refundable property tax credit provides assistance for people with low to moderate incomes who own or rent a principal residence in Ontario.

Property Tax Credit:

Based on occupancy cost – property tax paid, or 20% of rent paid.
The basic property tax credit for individuals under age 65 is $250.
The basic property tax credit for individuals age 65 or older is $625.
Credit would not exceed occupancy cost, and would be subject to a maximum of $900 for non-seniors and $1,025 for seniors.
Adjusted by 2% of adjusted family net income over $20,000 for single people and over $25,000 for families.
Refundable, and claimed on the personal income tax return, beginning with the 2010 return.

You cannot claim a Property Tax Credit for more than one Ontario residence, such as a house and a cottage, for the same period. However, you can claim more than one principal residence if you have lived in more than one at different times in the year, and your total period of principal residence occupancy does not exceed 12 months. If you rent out part or all of your principal residence, you can claim a property tax credit only for the part of the residence in which you live and for the time you actually lived in the residence.

]]> http://www.canadataxcredit.ca/refundable-property-tax-credit/feed/ 0 GST Payment Dates 2012 | GST/HST Payment Schedule http://www.canadataxcredit.ca/gst-tax-credit-gst-payment-dates/ http://www.canadataxcredit.ca/gst-tax-credit-gst-payment-dates/#comments Thu, 16 Sep 2010 19:42:43 +0000 http://www.canadataxcredit.ca/?p=7

Low Income Tax Credit | Working Income Tax Benefit

Thu, 16 Sep 2010 17:54:21 +0000

Working Income Tax Benefit for Low Income Tax Credit:

The working Income Tax Benefit (WITB) is a refundable low income tax credit intended to provide tax relief for eligible working low income individuals and families who are already in the workforce and to encourage other Canadians to enter the workforce. You can claim the WITB on line 453 of your Income Tax and Benefit Return.

You can receive the working Income Tax Benefit (WITB) if you are:

19 years of age or older on December 31, 2010
a resident of Canada throughout the year
a single individual without dependants who earns $3,000 to $12,833 per year, or a family (including couples with or without children, and single parents) that earns $3,000 to $21,167 per year

Visit here for more detail information.

Working Income Tax Benefit (WITB) Payments Dates:

April 5, 2010
July 5, 2010
October 5, 2010
January 5, 2011

Please note that The 2009 Federal Budget will increase funding for the WITB. However, advance payments for 2010 will be based on the 2009 rates.

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Sales Tax Credit Ontario Canada

Thu, 16 Sep 2010 17:44:32 +0000

Sales Tax Credit:

The basic sales tax credit is $100.
The additional credit for your spouse or common-law partner is $100.
Reduced by 4% of adjusted family net income over $20,000 for single people, and over $25,000 for families.
Refundable and paid quarterly, starting July 2010.

The Sales Tax Credit for each dependent child under age 19 on December 31 is $50. Only one person can claim a sales tax credit for a dependent child.

In cases of separation or divorce, the credit must be claimed by the primary caregiver (generally the recipient of the Canada Child Tax Benefit).

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