| By Marketwire . | Article Rating: |
|
| February 6, 2013 10:52 AM EST | Reads: |
183 |
OTTAWA, ONTARIO -- (Marketwire) -- 02/06/13 -- There are several benefits and credits designed for seniors.
Important information for seniors
-- Age Amount - You can claim this amount if you were 65 years of age or
older on December 31, 2012, and your net income is less than $78,684.
The maximum amount you can claim is $6,720.
-- Pension income amount - You may be able to claim up to $2,000 if you
reported eligible pension, superannuation, or annuity payments on your
return.
-- Pension income splitting - If you're receiving a pension, you may be
eligible to split up to 50% of your eligible pension income with your
spouse or common-law partner.
-- Registered retirement savings plan (RRSP) - Deductible RRSP
contributions can reduce your tax bill. You have until December 31 of
the year you turn 71 to contribute to your RRSP.
-- Registered disability savings plan - A registered disability savings
plan (RDSP) is a savings plan to help families save for the financial
security of a person who is eligible for the disability tax credit.
-- Goods and services tax/harmonized sales tax (GST/HST) credit - You may
be eligible for the GST/HST credit, a tax-free quarterly payment that
helps individuals and families with modest incomes offset all or part of
the GST or HST that they pay.
-- Working income tax benefit (WITB) - Working individuals and families
with low income may be able to claim this refundable tax credit. The
WITB includes a supplement for individuals who qualify for the
disability amount. Eligible individuals and families may also apply for
advance payments.
-- Disability amount - If you have a severe and prolonged impairment in
physical or mental functions, and meet certain conditions, you may be
eligible to claim the disability amount.
-- Public transit amount - You can claim the cost of public transit passes,
such as a monthly or annual pass, for travel within Canada on public
transit in 2012.
-- Medical expenses - You may be able to claim a non-refundable tax credit
based on the cost of previously unclaimed medical expenses for any 12-
month period ending in 2012.
-- Canada child tax benefit (CCTB) - If you are the primary caregiver for a
child under the age of 18, the CCTB may help you with the costs of
raising the child.
-- Child disability benefit - You may be eligible for this tax-free benefit
if you cared for a child under the age of 18 who is eligible for the
disability amount.
-- Universal child care benefit (UCCB) - If you are the primary caregiver
for a child under the age of 6, you may be eligible to receive the UCCB
when you apply for the CCTB.
The Canada Revenue Agency's (CRA) online services make filing even easier
The CRA's online services are fast, easy, and secure. You can use them to file your income tax and benefit return, make a payment, track your refund and more. Sign up for direct deposit too! Your refund and any benefit or credit payments owed to you will be deposited directly into your account, putting your money into your pocket faster. For more information, go to www.cra.gc.ca/getready.
Fast facts about filing your income tax return online
-- Filing your return online generally means receiving your refund faster.
-- Filing online is easy. Certified software packages and Web applications
(some of which are free to use) guide you through the process, ensuring
you don't miss out on credits and benefits you may be eligible for.
-- If you are already filing online, you no longer need a web access code
to file your return online. Now, all you need is your social insurance
number and date of birth.
-- Filing online is secure. The CRA uses the same high level of online
security used by Canadian financial institutions.
-- File your income tax and benefit return on time to make sure there are
no interruptions to your benefit and credit payments.
-- Go to www.cra.gc.ca/getready and let us walk you through it step by
step.
-- If you have a modest income or simple tax situation, you can contact the
Community Volunteer Income Tax Program. To find a volunteer tax
preparation clinic, go to www.cra.gc.ca/volunteer.
Stay connected (www.cra.gc.ca/socialmedia)
To receive updates when new information is added to our Web site, you can:
- follow the CRA on Twitter - @CanRevAgency;
- subscribe to a CRA electronic mailing list; and
- add our RSS feeds to your feed reader.
You can also visit us on YouTube for tax-related videos.
Contacts:
Noel Carisse
Media Relations
Canada Revenue Agency
613-952-9184
Published February 6, 2013 Reads 183
Copyright © 2013 SYS-CON Media, Inc. — All Rights Reserved.
Syndicated stories and blog feeds, all rights reserved by the author.
More Stories By Marketwire .
Copyright © 2009 Marketwire. All rights reserved. All the news releases provided by Market Wire are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.
- Cloud People: A Who's Who of Cloud Computing
- Windows Azure IaaS Reaches General Availability
- AMD and Adobe Collaborate on Upcoming Version of Adobe Premiere Pro Software to Enable Breakthrough Video Editing Performance Through Open Standards
- State and Local Governments Adopt Microsoft Dynamics CRM to Improve Citizen Service Delivery
- New Relic Q1 2013 Blazes Past Growth Targets and Reaches 40,000 Active Customer Accounts
- Predixion Software Announces General Availability of the Latest Version of its Predictive Analytics Platform
- Cloud Expo New York: Deploying Hybrid Cloud for Performance and Uptime
- CollabNet And UC4 Announce General Availability Of Joint Enterprise DevOps Platform
- Symphony EYC Appoints New Account Manager to Drive Global Opportunities
- Cloud Computing Is Simplifying Things
- Cloud Expo New York: Developing the World’s First IaaS Marketplace
- Session Topics: 12th Cloud Expo / Cloud Expo New York
- Cloud People: A Who's Who of Cloud Computing
- Cloud Expo New York: Best CIO Practices Shared from SHI’s Customers
- Windows Azure IaaS Reaches General Availability
- AMD and Adobe Collaborate on Upcoming Version of Adobe Premiere Pro Software to Enable Breakthrough Video Editing Performance Through Open Standards
- State and Local Governments Adopt Microsoft Dynamics CRM to Improve Citizen Service Delivery
- New Relic Q1 2013 Blazes Past Growth Targets and Reaches 40,000 Active Customer Accounts
- The PostOpen Event – Why It Is So Important
- The Cover and the Epilogue of the Upcoming Book
- Predixion Software Announces General Availability of the Latest Version of its Predictive Analytics Platform
- Cloud Expo New York: Deploying Hybrid Cloud for Performance and Uptime
- Small Cancers, Big Data, and a Life Examined
- Global Micro Servers Market (2013 - 2018), By Processor Type (Intel, Arm, Amd), Component (Hardware, Software, Operating System), Application (Media Storage, Data Centers, Analytics, Cloud Computing) & Geography (North America, Europe, Apac, Row)
- Google Maps and ASP.NET
- Converting VB6 to VB.NET, Part I
- How to Write High-Performance C# Code
- Crystal Reports XI & How It Has Changed
- Where Are RIA Technologies Headed in 2008?
- Creating Controls for.NET Compact Framework in Visual Studio 2005
- Programmatically Posting Data to ASP .NET Web Applications
- Implementing Tab Navigation with ASP.NET 2.0
- AJAX World RIA Conference & Expo Kicks Off in New York City
- i-Technology Viewpoint: "SOA Sucks"
- .NET Archives: Getting Reacquainted with the Father of C#
- i-Technology Photo Exclusive: Bill Gates & Steve Jobs In "Nerds"

























