Home » Legal & Official » Where to Save in Taxes?

You may be eligible to a lot of thousands of dollars and you do not know it.

Here are some of the most important credit you can save when filing your tax report.

First-time donor’s super credit

The First-Time Donor’s “Super Credit” allows First-time donors (anyone who has never claimed the federal charitable tax credit, or who hasn’t contributed to a charity in the past 5 years) to get a 25% “super credit” in addition to the existing (federal) credit the first time they claim charitable donations!

First-time home buyers’ tax credit

First-time home buyers can claim a non-refundable tax credit of $750 for the purchase of a qualifying home.

Public transit tax credit

A non-refundable tax credit that helps individuals cover the cost of public transit.

Children’s fitness tax credit

A non-refundable tax credit of up to $75 per child for eligible expenses (maximum $500) of enrolling in a prescribed program of physical activity.

Family caregiver tax credit

A non-refundable tax credit of up to $306 for taking care of an eligible dependant.

Children’s arts tax credit

Families may be able to claim a non-refundable tax credit of up to $75 per child for eligible expenses (maximum $500) of enrolling in a prescribed program of artistic, cultural, recreational, or developmental activity.

Pension income splitting

Pensioners can split up to 50% of eligible pension income with their spouse or common-law partner and reduce their overall tax paid.

Volunteer firefighter tax credit

If you are a volunteer firefighter, you may be able to claim an amount of $3,000.

Tradesperson’s tools deduction

Tradespersons can deduct from their income part of the cost of tools purchased throughout the year.