targeted at all sorts of demographics, and tax experts don’t blame you for not always knowing which ones apply to you. Tax policy is a complicated stew of relief for a diverse population.and other tax experts.CRA spokesperson Charles Drouin says this credit is often dismissed because of a misunderstanding of the rules. To expense medical costs, you need to have at least $2,479 in expenses to be eligible. But Mr.
is tax deductible. If you’re carrying large student loans, interest can add up and the deductions can take a big chunk out of your yearly income.Anyone with a disability or who is age 65 or older can claim many of their home renovation expenses. This can include upgrades such as installing bars in a washroom to avoid falls. Ms. Drouin said up to $20,000 can be claimed, compared with $10,000 in 2021.in 2022, you could be eligible for a massive deduction of $10,000 for qualifying purchases.
that can be deducted. Payments for daycare and in-home care providers are often claimed, but parents should also deduct costs for overnight camps and summer camps.dues are an often overlooked expense that can be deducted. Box 44 of your T4 slips will contain the total amount of dues you’ve paid. Are you a young Canadian with money on your mind? To set yourself up for success and steer clear of costly mistakes,