As a Canadian resident and tax payer, if you have kids under 18, you’ll probably be impacted by some of the tax changes that take effect this year (for 2014 tax return) and others in 2015. Here’s what’s new:
Children’s fitness amount (2014)
The amount of children’s fitness expenses you may claim for each child has increased from $500 to $1,000. The increased credit is worth $75.
Family tax cut (2014)
This new tax credit (which is frequently referred to as income splitting) is worth up to $2,000 for families where the parents are in different
Follow