Tax Benefits Available to Canadians | Apr 16, 2020
The previous Conservative government succeeded in reducing the tax burden on Canadians to the lowest point in half a century. We did this by removing one million Canadians from tax rolls, increasing the amount Canadians could earn tax free, and cutting the lowest personal
income tax rate to 15%.
Here is a list of some tax benefits that you can claim:
Goods and Services Tax (GST) Credit:
Four times a year, this tax-free payment helps individuals and families with modest incomes offset all or part of the GST that they pay.
If you have a spouse or common-law partner, just one of you can receive this credit. When you file your 2019 tax return, CRA will determine your eligibility and will advise those who are eligible to receive the credit.
Medical Expense Deductions:
This credit applies to a number of eligible expenses – from home care services, to laser eye surgery, to orthopedics. The previous Conservative government expanded the deduction itself, as well as the list of expenses, to include costs associated with certain types of service animals (e.g. diabetes alert dogs). The amount you can claim is the total of your expenses, minus approximately $2,352 or 3% of the claimant’s income (whichever is less). There is no limit on the amount of eligible expenses a taxpayer can claim for himself or herself, a spouse or common-law partner, or a child under 18.