Income Tax Refund and Tax Credits

The following tax refunds and credits apply to both individuals and businesses:

  • Tax Refund for low income families and individuals (2000+) Revenue Canada & Quebec
  • Self-employed tax payers pays lowest taxes by reducing home office expenses, car expense and related expenses to the business, such as rent, heat , telephone, restaurant, clothing for work, make up for work, supplies, desk, equipments, computer, printer, purchases, subcontract, insurance, convention, professional training and developments, car expenses,  grocery related to the business for day care, and all other related expenses.
  • Property Tax Refund (500+)
  • Property Tax Refund for Forest Producers
  • Rental Income can deduct all the rental expenses to reduce taxes, such as car expense, advertising, tools, taxes, interest, notary cost, welcome taxes, maintenance & repairs, Management and administration fees, salaries, subcontracts, depreciation and all other related expense.
  • QST Rebate for Employees and Partners
  • Tax Credit for a Top-Level Athlete
  • Tax Credit for Adoption Expenses
  • -Eligible expenses

    • Fees paid to a licensed adoption agency
    • Court costs and legal and administrative expense related
    • Reasonable and necessary travel expense of the child and adoptive parents.
    • Document translation fees
    • Mandatory fees paid to foreign institution
    • Any other expenses related to adoption
  • Tax Credit for Caregivers (You may be able to claim $4095 for each dependent that lived with you if the following conditions are met:
    • The dependent been 18 or over at the time he or she lived with you
    •  Your or your spouse’s or common-law partners’ child or grand child
    • Had net income of less than $18,081
    • Been dependent due to mental or physical impairment or, physical impairment or if he or she is your or your spouse’s  or common-law partner’s parent or grandparent, born in 1943 or earlier.
    • Tax Credit for Child-Care Expenses (75%)
  • Tax Credit for Home Improvement and Renovation (Credit applies to 15% in renovation in excess of $1000. Maximum credit is $1350 or renovation of $10,000.
  • -What kind of renovations qualify?

    • Renovating a kitchen or bathroom
    • New carpet or hardware floors
    • A new deck or fence
    • A new furnace or water heater
    • Painting the interior or exterior of your house
    • Resurfacing your driveway.
  • Tax Credit for Home-Support Services for Seniors
  • Tax Credit for Income from an Income-Averaging Annuity for Artists
  • Tax Credit for Medical Expenses
  • Tax Credit for Caregivers (You can claim
  • Tax refund  for Taxi Drivers and Taxi Owners  ($1000+)
  • Tax Credit for the Acquisition or Lease of a New Fuel-Efficient Vehicle
  • Tax Credit for the Repayment of Benefits
  • Tax Credit for the Reporting of Tips
  • Tax Credit for the Treatment of Infertility ($7500+)
  • Tax Credit for Volunteer Respite Services
  • Tax Credit for the Income Tax Paid by an Environmental Trust
  • Children’s Fitness Credit (Max $500)
  • Tax Credit for Childcare Expenses
  • $1057 Refund for giving Care for a Parent          
  • Amount for a Severe and Prolonged Impairment in Mental or Physical Functions ( You can claim an amount up to a maximum of $4095, for each of your or your spouses or common-law partners dependent children or grandchildren)
  • Amount for Children Enrolled in Post-Secondary Studies
  • Amount for Other Dependants
  • Disability Supports Deduction
  • Dividend Tax Credit
  • Donations and Gifts (Tax credit for gift of works of  You may claim a tax credit  if you donate a work of art to a charity, provided the charity disposes of the work of art during the year in the  following five years)
  • Expenses for Medical Services Not Available in Your Area
  • Foreign Tax Credit (This credit is for foreign income or profits taxes you paid on income you received from outside Canada and reported on your Canadian tax return. )
  • Interest Paid on a Student Loan (Tax tip: If you have no tax payable for the year the interest is paid, it is to your advantage not to claim it on your tax return. You can carry the interest forward and apply it on your return for any of the next five years. )
  • Medical Expenses (Generally, you  can claim all amounts paid, even if they were not paid in Canada. Your total expense has to be more than 3% of your net income, or $1926, whichever is less. ) You can claim all your medications, prescription glasses, surgery, dentists, etc.
  • Tax Credit for the Beneficiary of a Designated Trust
  • Tax Credit for a Labour-Sponsored Fund - FTQ 15%
  • Tax Credit for Donations & Contributions to Authorized Québec /Federal  Political Parties
  • Tax Credit for Recent Graduates Working in Remote Resource Regions
  • Tax Credit for the Acquisition of Capital Régional et Coopératif Desjardins Shares
  • Tuition or Examination Fees for Students (Tax tips: Even if you have no tax to pay and you are transferring part of your tuition, education and textbook amounts, you should file a return, so you can utilize the unused amount in the future.)
  • Union, Professional or Other Dues ( Any union or professional dues related to your employment)
  • Public Transit amount (You can claim amount for yourself, your spouse and your dependent who are under the age of 19 at Dec 31.)
  • Moving expenses (Within Canada & limited to income earned at new work place)
  • -May deduct moving expenses if

    • Moved to take up employment, or to carry on a business
    • New residence is at least 40 Kilometres closer to your new place of work
  • Public transit amount and bus passes
  • Single parent deduction $10,000+
  • Living alone credit $1000+
  • Transfer credits between spouse  to maximize refund
  • Split pension income between the spouses to reduce  or pay no taxes
  • Transfer tuition and educations amounts from children and increase your refund

For private practice and Self-Employed, see categories in Business income/Professional income to prepare for tax filing.