Canadian 2012 Tax Credit Calculator
With new legislation, comes new tax breaks for Canadians. Here’s the place where first time home buyers and pension contributors will be able to see approximately how much they will be getting back from the government this year, in addition to any refunds they may be getting or payments they will have to make.
Simply plug in the relevant details, hit the button and voila — find out how much your tax credit entitles you to.
| Are you a resident of Canada?
Sorry, only residents of Canada are eligible for income tax credits |
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| If married or commonlaw, does your spouse work? If you have a non-working spouse or they have low income, you may be eligible for a tax credit |
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| Are you a single parent with a child under 18? You can claim an equivalent to spouse deduction for your child |
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| Are you 65 years old or more as of Dec 31, 2012? You are eligible to claim the Age Amount exemption |
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| Are you disabled? You are eligible to claim the disability tax credit |
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| Are you a tradesperson and did you pay for your tools? You are eligible to claim for a tax credit of up to $500 |
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| Did you pay union or professional dues during 2012? You are eligible to claim a deduction for any union or professional fees paid |
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| Do you care for a senior parent or grandparent or infrim relative (65+) in your home? You may be eligible for a caregivers' tax credit |
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| Do you care for an infirm dependant (18+) at home? You may be eligible for a caregivers' tax credit |
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| Do you have a child under 18? You are eligible for a tax credit for each of your children |
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| Do you have a child under 7 attending child care? You may be eligible a child care tax credit |
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| Do you have a child over 7 attending child care? You may be eligible a child care tax credit |
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| Do you receive pension or RIF income? Not CPP payments. You may be eligible for a tax credit of up to $2000 |
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| Do you have medical expenses? You may be eligible to claim medical expenses in excess of 3% of your net income |
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| Did you adopt a child during 2012? You are eligible for child adoption fees credit |
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| Did you attend post secondary or other eligible education facilities PART TIME? You may be eligible to claim $185 tax credit for each month you attended |
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| Did you attend post secondary or other eligible education facilities FULL TIME? You may be eligible to claim $475 tax credit for each month you attended |
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| Did you repay a student loan with interest? You are eligible to claim the amount of interest you paid for your student loan |
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| Did you work and earn more than $1100 during 2012? You are eligible to claim the Working Income Tax Credit |
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| Did you pay for sporting and after-school activities for your child? You can claim a tax credit of up to $500 for sporting and activity expenses for your child |
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| Did you pay for arts and group activities for your child? You can claim a tax credit of up to $500 for arts programme expenses for your child |
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| Did you move to a home 40km closer to your place of work? You can claim a tax credit for your moving expenses. This includes students at university! |
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| Did you purchase a home qualified under the Home Buyer Tax Credit? You may be eligible for a $5000 tax credit |
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| Did you pay for a safety deposit box? You can claim a deduction for renting a safety deposit box |
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| Did you donate to charity? If you have charitable tax receipts, you may be eligible to claim up to 25% of the donation |
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| Did you pay for post-secondary (university) tuition for yourself? You can claim a tax deduction for any tuition for yourself over $100 |
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| Did your child attend post-secondary eduction? You may be eligible to transfer your child's tuition credit for up to a $5000 credit |
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| Did you pay for monthly or weekly public transit passes? You may be eligible for a tax credit equal to the cost of your passes |
Potential tax payable reduction