Every year there are changes to the Canadian Tax Code and taxpayers struggle to figure out how these changes will affect their returns. At Naicker & Associates, we offer tax preparation services in order to take some of that guesswork away from our clients and we like everyone to know exactly what’s coming from the CRA. Here are a few of the changes that you need to be aware of:
If you were previously applying for the family caregiver credit, the credit for infirm dependants age 18 or older, or the caregiver credit, this has been changed to the non-refundable Canada caregiver credit. This provides tax relief to people taking care of infirmed, dependent family members.
Nurse practitioners can now apply for Disability Tax Credit certification. People who needed medical intervention to conceive a child can claim any expenses, going back 10 years, under the Medical Expense Tax Credit. These expenses can now be claimed just as someone with a medical condition would. You will have to reapply older expenses for past personal tax returns, but we can help you do that in our Port Moody office.
Unfortunately, a number of tax credits were eliminated. Tuition, education, and textbook credits have been eliminated, although you can still carry forward unused amounts from previous years. Also, the children’s art tax and fitness tax credits, as well as the public transit credits are gone. But for this tax year, you can still claim any transit costs from January 1 to June 30, 2017.
If you’re unsure how these changes will affect your return, or need some help with any number of personal income tax questions, come and talk to the experienced team of CPAs at Naicker & Associates. We can help make this tax season easier and stress-free.