Important Facts

This page summarizes the changes for the current taxation year and highlights important things you should keep in mind as you prepare to have your taxes completed.

More information can be found on the following pages of the Government of Canada website:

• Your tax obligations - determine your tax obligations and whether you need to file a tax return
• Personal income - determine what has to be reported as income on your personal income tax return
• Tax deductions, credits and expenses - claim tax deductions, credits, and expenses to reduce the amount of tax you must pay
• Tax refunds - check the status of your refund, and when you can expect to receive your refund
• Notices of assessment - View your notice of assessment or reassessment online

Plan Ahead.

Make sure you are ready when you file your income tax and benefit return.

• view your registered retirement savings plan (RRSP) deduction limit and tax-free savings account (TFSA) contributions;
• pay with pre-authorized debit;
• apply for benefits;
• update your personal information;
• use our helpful Tax Checklist to make sure you have your receipts and records in order to file your tax return.
• Climate Action Incentive: The Climate Action Incentive (CAI) payment consists of a basic amount and a 10% supplement for residents of small and rural communities. This payment may reduce your amount payable or increase your refund when you file your income tax and benefit return.

• Family caregiver amount (FCA). If you have a dependant with an impairment in physical or mental functions, you may be eligible to claim an amount on line 367 or an additional $2,121 for one or more of the following amounts (Schedule 1, Federal Tax):
  • spouse or common-law partner amount (line 303);
  • amount for an eligible dependant (line 305); and
  • caregiver amount (line 315).

  For more information visit CRA.

Tax-Free Savings Account (TFSA). The annual contribution limit for tax-free savings accounts is $6,500.

Charitable Donations. The First-time donor's super credit (FDSC) supplements the value of the charitable donations tax credit (CDTC) by 25% on donations made after March 20, 2013, by a first-time donor. The FDSC applies to a gift of money made after March 20, 2013, up to a maximum of $1,000, in respect of only one taxation year from 2013 to 2017.