The Federal Tax Credits Blog

Posts Tagged ‘canada’

Alan Mulally of Ford: Leaders Must Serve, with Courage

Bringing Clarity 2 – Disability Tax Credit & CPP Disability Benefit Advocates

Question: What’s the point of having federal and provincial tuition amounts?

I actually have 2 questions.
I know these are non-refundable tax credits and I can use them to pay for whatever taxes I owe but I can’t even use it because I have low income of course since I’m a full time student, and I’ll probably not be able to use it until I graduate when I do have a high income job.
Can someone give me some reasons it will benefit me while I’m in school?
And what if I transfer these amounts to my mother, will she be able to use it to pay off the taxes she may owe for her tax return and get a higher amount (like an extra $10,000 from a tuition amount of $16,000+) of money from her refund?
Edit- So since I can only transfer $5000 max, if say she owes $5000 in tax, will she receive the $5000 in her tax refund that was not deduted?

Answer: You are right about tuition credits as being non-refundable. If you are low income (>$8,000), you won’t need to use your tuition credits. The only benefit you’ll get at the present is the accumulation of these credits for future use. You might not see this as a benfit to you, but you can definitely help your mom lower her tax liability. Unfortunately, you can only transfer a maximum of $5,000 of your tuition credits for the present year.

Hope Tax Credit

Question: I live in North Vancouver Canada, and my upstairs neighbor shredded my gst/hst credit check!?

My (crazy) upstairs neighbor shredded my GST/HST Tax credit BC Climate Action Tax Credit Check… what do I do!? Is there a number that I can call to have it resent? Or sent to a different address so my niehgbor doesn’t get ahold of it again?

Answer: You can call then and explain what happened – or , maybe not & just say you didn’t receive it?:
“If you have any questions at all about the GST/HST credit, you can call us toll-free at 1-800-959-1953, or you can send a letter to the tax centre that serves your area.”

Although they may say they have to wait a few months to make sure the chq wasn’t actually cashed…

The best way to make sure the next one isn’t shredded is to have it direct-deposited into your bank account. Or I guess get a mailbox somewhere else.

HST Rebates will make BC Aviation Company More Competitive

Can your diet be tax deductible?

Put on some extra weight over this past Canada Day long weekend? Well, you may be able to get some tax relief to help you shed those pounds, depending on the approach you take

TYT Hour – September 24th, 2010