(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

Trail liquor store held up Friday night

The perpetrator was brandishing a weapon that appeared to be a gun, according to the Trail RCMP

Trail Smoke Eaters lose in shootout to Coquitlam Express

The Trail Smoke Eaters battled the Express in a tight checking 2-1 shootout loss on Friday

Lest We Forget

Crowd fills downtown Trail for Remembrance Day ceremony

Remembering Trail veterans

The Trail Legion now has 14 veterans from the Second World War

3 games, 3 wins for the Vees

Penticton wins 4-3 over Smoke Eaters

VIDEO: Marvel Comics’ Stan Lee dies

Marvel co-creator was well-known for making cameo appearances in superhero movies

Feds dropped ball with WWI anniversary tributes: historians

Wrote one historian: ‘Other than the Vimy Ridge celebration … I think they have done a very bad job’

Sides ‘far apart’ in Canada Post talks despite mediation, says union

The lack of a breakthrough means rotating strikes will resume Tuesday

Feds’ appeal of solitary confinement decision in B.C. to be heard

Judge ruled in January that indefinite such confinement is unconstitutional, causes permanent harm

B.C. health care payroll tax approved, takes effect Jan. 1

Employers calculating cost, including property taxes increases

Nunavut urges new plan to deal with too many polar bears

Territory recommends a proposal that contradicts much of conventional scientific thinking

Shelter struggles: Landlord takes over rental unit whenever visiting B.C. town

Renter’s story highlights how hard it is to find accommodation in Revelstoke

Lack of public response threatens B.C. referendum credibility

Of the few who have voted, poll finds most rejected proportional representation

Tentative deal reached in NHL concussion lawsuit

More than 100 former players accused the league of failing to better prevent head trauma

Most Read