Some helpful tips from Canada’s Professional Chartered Accountants ahead of the deadline.
Ontario residents could get some money back on their taxes thanks to a carbon tax credit.
Canada’s Professional Chartered Accountants spokesperson Bruce Ball tells us you could be getting a good chunk of money back depending on your situation.
“The basic amount a person can claim is $154, if they are claiming for their spouse as well there’s another $77, there’s also amounts you can claim for other dependents as well.”
The credits can be found on schedule 14 of Canada Revenue Agency document.
Meanwhile, if you are a student there are also some changes you need to keep in mind when filing your taxes.
“2018 is the first year for Ontario, where tuition carries forwards still apply, but the other tuition rules don’t apply anymore. You can’t transfer tuition to a supporting person and you can’t claim any new tuition.”
If you sold your home in 2018 you also have to make sure you report it on your tax return.
You have until the end of the month to file your taxes.
