Ontario has introduced a temporary staycation tax credit for 2022. You will receive a 20% tax credit on eligible accommodation expenses in Ontario. The maximum amount that can be submitted is $1,000 (a $200 credit) for an individual or $2,000 (a $400 credit) for a family. Save your detailed receipts as they will need to …
Category: Tax Credits for Everyone
There are two new methods introduced for employee’s claiming workspace in your home deductions on your 2020 tax return. Please note that use of the flat rate calculation method has been extended for the 2021 tax year. The first and easiest of these claims is the flat rate calculation method. To be eligible you must …
Teachers, early childhood educators and other eligible educators have a tax credit available to them for purchasing school supplies. This credit was expanded effective with the 2021 tax year. The list of eligible supplies was expanded. The credit itself also increased from 15% to 25% of up to $1,000 in eligible expenditures. This would equate …
*Reminder – 2017 is the final taxation year to use this credit* There is a first-time donors super credit available if you or your spouse have not claimed a charitable donation credit on your tax return since 2007. Make sure you submit your donation receipts. Donations made between March 20, 2013 and December 31 2017 …