(File photo)

Tips on saving money this tax season

The Canada Revenue Agency offers some ways to save time and money

Want to make sure you haven’t missed out on a tax credit?

The Canada Revenue Agency has come out with some tips ahead of the April 30 filing deadline.

Families with kids get a whole range of options. You have to tell the Canada Revenue Agency that you have children, if you haven’t already, and a quick and easy way to do that is to fill out the automated benefits application, which will register you for the Canada child benefit as well as the B.C. family bonus and early childhood tax benefit.

The Canada child benefit is a tax-free monthly payment to help families with the cost of raising kids.

  • Up to $6,400 annually for each child under the age of 6 and $5,400 annually for each child aged six-17.

Childcare expenses can also be claimed, and if your child is eligible for a disability tax credit, you can claim a child disability benefit.

Parents of kids enrolled in fitness or arts programs get to claim $500 or $250, respectively, of the fees you paid for those programs in 2016.

There are tax credits for individuals and child-free families too:

  • Working income tax credit applies for all Canadians aged 19 and older who pay income tax and make under and $20,314 a year.
  • The same tax credit applies to families or those with children who take in $29,186 a year.
  • A GST/HST credit, with the amount depending on income and number of children.

@katslepian

katya.slepian@bpdigital.ca

Like us on Facebook and follow us on Twitter.

Just Posted

Sidney’s Star Cinema part of new development plan

Theatre space would increase in proposed Cameo, a 45-unit mixed use condo development

Town wants assurances over overpass, trees at Sidney Crossing

Major commercial site plan now in the hands of the Victoria Airport Authority

Sandown land transfer to North Saanich approved

Building demolition and commercial development expected to start soon

New limits for dogs may come to CRD parks

A three-dog limit (eight for professional walkers) might arrive next year

Writing from a lifetime of travel

North Saanich poet Ulrike Narwani to read at the SHOAL Centre Nov. 24

100,000 bulbs shine bright for Lights of Hope

St. Paul’s Hospital in Vancouver launched its annual campaign to raise funds for equipment, research

Spunky gets his own ‘hawk’-umentary

Red-tailed hawk raised by eagles in Sidney part of new online documentary

Sidney fire hall, parking lot, go up for sale

Town hopes to sell properties to offset cost of building its new fire hall

‘I will now live in consistent fear’: Allan Schoenborn granted escorted leaves

The Merritt man was deemed not criminally responsible in the killing of his three children in 2008

Hammy the deer dodges conservation officers in Prince Rupert

The famous Prince Rupert hammock deer maintains his purple threads

‘No shirt, no service, no Canada’

Shirtless Tacoma man arrested after Canadian border officials say they found meth in rental vehicle

Weekend hit list: Things to do in Greater Victoria

FRIDAY Find Mr. Nutcracker and his cousin Tommy Tempo as they visit… Continue reading

Uptown’s Christmas Tree Light Up is Saturday night

Uptown assembling 54-foot-tall tree for fifth annual Light Up

Nasty note on B.C. windshield sparks online outrage

Vernon’s Bailey McDonald is using a painful experience to start conversation about invisible illness

Most Read