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1. Middle-Class Tax Cut: Lower Personal Income Tax The lowest federal personal income tax rate is being cut from 15% to 14%, effective July 1, 2025.  Because it starts mid-year, the effective rate for the full 2025 year is 14.5% . This cut benefits about 22 million Canadians, especially those in the lower and middle brackets, and could save individuals up to ~$420 and couples up to ~$840 in 2026. Most non-refundable tax credits will continue to be calculated using the lowest

Caregiver credit How can you apply for the caregiver credit What is the criteria? Update below article mentioning  Are you able to claim expenses to support your parents Do you parents need to live with you Care giver credit If you're supporting a family member with a serious physical or mental health condition, the Canada Caregiver Credit (CCC) can help reduce your taxes. It’s the CRA’s way of recognizing the added responsibilities caregivers take on — and it could mean hund

Payments to CRA Paying your taxes to the Canada Revenue Agency (CRA) is straightforward, with multiple methods available to suit your preferences. Here's how you can make a payment:​ 1. Online Banking (Most Convenient) Log into Your Online Banking :  Access your financial institution's online banking portal, here Add the CRA as a Payee: Add "Canada Revenue Agency – Personal Income Tax" as a payee.​ Enter Your SIN: Use your Social Insurance Number (SIN) as the account number.​

1. What is the Canadian Worker Benefit (CWB)? The CWB is extra money from the government for people who: Work Earn a low income Live in Canada It is meant to help with living costs and encourage people to work. 2. Who Can Get the CWB? You may qualify if you: Are 19 years or older Work and earn income Earn under a certain amount Are a resident of Canada Are not a full-time student (unless you have a child) 3. How Much Money Can You Get? It depends on: How much you earn If you

What are child care expenses? This is money you pay so someone can look after your child while you: Work Run a business Go to school You can claim this on your tax return to pay less tax. What CAN you claim? You can claim money paid for: Daycare Babysitter or nanny Day homes After-school care Summer camps (child care part only) What you CANNOT claim You cannot claim: Food at home Clothing Toys School fees (not daycare part) Sports or dance classes Babysitting by: Your spouse

What are all the credits available to a tax payer? MAIN TAX CREDITS (FEDERAL – CANADA) 1. Basic Personal Amount Every person gets this You pay no tax on the first part of your income Around $15,000 is tax-free 2. Canada Child Benefit (CCB) Monthly money for parents For children under 18 Amount depends on your income his is tax-free money 3. Tuition Credit If you go to college or university You get a credit for school fees You can save it for future years 4. Age Amount (65+) I

What to keep in mind when you’re self-employed You file your income as “business or professional income,” not just salary. Keep good records: receipts, bills, logs (mileage, work hours), etc. The tax authorities may ask for proof. Only claim what is reasonable and actually used for business — not personal use.  What you can claim — Home Office & Auto (and more)  Home Office / Business-Use-of-Home If part of your home is used as your “business office,” you may deduct a portion

Money Help and Cheques When will I get my government money?  These payments come on set dates every year: GST Credit → January, April, July, October Carbon Rebate (CAI) → January, April, July, October Ontario Trillium Benefit (OTB) → Monthly (or one lump sum in July)  If you: Filed late Owe CRA money Changed address or bank info → Your payment can be delayed Why is my child benefit money less this year?     our CCB can go down if: You made more income last year You got marrie

ONBEN This is the low income credit for rent expense or property tax paid only for residents of ontario  Questions to answer with the blog Who should claim between 2 spouses (low income or higher income) - does it make a difference who claims What is the income limit when the credit disappears  Update the below for 2025 rates The Ontario Trillium Benefit (OTB) is a tax-free payment designed to assist low- to moderate-income Ontario residents with energy costs, property taxes,