Help Preparing Returns
Tax season is upon as and some seniors may need help preparing their return. Volunteer Tax Preparation Clinics are available between February and April each year at many locations across Canada. Make sure to bring all in old age security, employment insurance and pension plans slips as well as all relevant receipts. A full list of clinics is available online through the Canada Revenue Agency at www.cra-arc.gc.ca and slips can found by visiting Service Canada at www.servicecanada.gc.ca .
Senior Benefits
Canadian seniors over 65 are eligible to receive many tax benefits that their younger counterparts may not be allowed. These may include the Healthy Home Renovation Tax Credit, Medical Expenses (including air conditioning and bathroom aids), Disability Credit, Pension Income Credit and Family Caregiver Credit.
Keep receipts for all expenses including transportation. The full cost of a public transit pass may be used in your claim. Tax credits can be shared with a spouse and seniors may also be eligible to split their pension with their partner.
Check with local government for individual provincial and territorial programs. Ontario has also introduced a Senior Homeowners’ Property Tax Grant for those 64 and older who are provincial residents and pay property tax. The grant of up to $500 is based on income.
In Manitoba, senior homeowners can apply for a Senior’s School Tax Rebate, part of a plan to eliminate school taxes for seniors by 2016. To quality seniors must own and live in their own home, be at least age 65 and have school taxes not already fully covered by the existing Education Property Tax Credit.
For a detailed explanation of these and other senior tax credits visit the Canada Revenue Agency online resources for seniors.
Tax Credits for Seniors
