personal tax credit Archives - LawNow Magazine

More Resources on Personal Tax Credits

In the latest issue of LawNow, the article “Credit where Credit is Due: Personal Tax Credits in the Canadian Tax System” looks at where personal tax credits are available. These include credits for: dependent family members, children’s fitness and arts, pensions, medical expenses, employees, student’s tuition, gifts to registered charities, and more. The amounts of […]

Authors:

Credit where Credit is Due: Personal Credits in the Canadian Tax System

2012 is the 25th year of personal credits in the Canadian tax system. Prior to 1988, personal exemptions were deducted from taxable income. Since 1988, credits against taxes payable have been used. This was perceived as more fair, because the benefit of deductions was greater for higher income taxpayers. Credits result in the same tax […]

Authors:

Hugh Neilson
Hugh Neilson
Hugh Neilson, FCPA, FCA, TEP, is an independent contractor with Kingston Ross Pasnak LLP, and a member of the Video Tax News editorial board in Edmonton, Alberta.
 


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