Ontarians can get money back with these personal income tax credits.
Tax forms and Canadian currency are shown together in this photo illustration taken in Toronto on Sunday, April 3, 2016. THE CANADIAN PRESS/Graeme Roy
“Often what we see in practice is that the credits that get forgotten are those that people need to search for slips, they need to search for receipts.”as an example. Through this credit, Ontarians who have stayed in a hotel or rented a cottage in the province can claim 20 per cent of eligible accommodation expenses between Jan. 1 and Dec. 31, 2022.
The credit is refundable and anyone earning up to $65,000 annually can qualify, though the amount of credit is on a sliding scale based on income level., which helps families with a household income of $150,000 or less. Eligible families may be able to claim up to 75 per cent of child care expenses, including child care centres and camps.
“Sometimes people think they don’t move far enough to be able to deduct moving expenses, but the criteria is 40 kilometres,” Lemay said.
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