Personal Taxes and Finance Archives - CPA Accountant and Tax Advisor- Coquitlam, Burnaby, Maple Ridge

CRA Tax Credit

Medical Expenses – Tutoring Services

January 13, 2017
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Tutoring services

Income Tax Act Section 118.2(2)(l.91) provides that eligible medical expenses may include amounts paid as remuneration for tutoring services provided to a patient where the following conditions are satisfied:

the tutoring is supplementary to […]

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CRA Tax Credit

2016 New Tax Credit for Eligible School Teachers

2016 New Tax Credit for Eligible School Teachers

 
There is a new refundable tax credit for 2016 and beyond: the Eligible Educator School Supply Tax Credit. If you are an eligible educator you can now claim a 15% refundable tax credit on up […]

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tax planning

Elimination of the Federal Education and Textbook Tax Credits – 2017

Education and Textbook Tax Credits

Budget 2016 proposes to eliminate the federal education and textbook tax credits effective January 1, 2017. This measure does not eliminate the tuition tax credit. Unused education and textbook credit amounts carried forward from years prior to 2017 will remain available […]

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Fitness tax credit

Children’s Fitness and Arts Tax Credits

Budget 2016 proposes to phase out the children’s fitness and arts tax credits:

– Effective for the 2016 taxation year, the maximum eligible amount per child will be reduced to $500 from $1,000 for the children’s fitness tax credit (which will remain refundable for 2016) and […]

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