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Income Tax Folio S1-F2-C1, Qualifying Student and the Education and Textbook Tax Credits

Income Tax Folio S1-F2-C1, Qualifying Student and the Education and Textbook Tax Credits Series 1: Individuals Folio 2: Students Chapter 1: Qualifying Student and the Education and Textbook Tax Credits Summary Beginning with the 2017 tax year, the education and textbook tax credits have been eliminated and will no longer be available for a student […]

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Income Tax Folio S1-F3-C1, Child Care Expense Deduction

Income Tax Folio S1-F3-C1, Child Care Expense Deduction Series 1: Individuals Folio 3: Family Unit Issues Chapter 1: Child Care Expense Deduction Summary The purpose of the legislative provisions regarding child care expenses is to provide some relief for taxpayers who incur child care expenses in order to work, carry on a business or undertake certain educational

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Income Tax Folio S1-F4-C1, Basic Personal and Dependant Tax Credits

Income Tax Folio S1-F4-C1, Basic Personal and Dependant Tax Credits Series 1: Individuals Folio 4: Personal Credits Chapter 1: Basic Personal & Dependant Tax Credits Summary Individuals are entitled to claim certain non-refundable tax credits in calculating taxes payable for a tax year. These credits reduce the amount of income tax an individual must pay.

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Income Tax Folio S1-F2-C3, Scholarships, Research Grants and Other Education Assistance

Income Tax Folio S1-F2-C3, Scholarships, Research Grants and Other Education Assistance Series 1: Individuals Folio 2: Students Chapter 3: Scholarships, Research Grants and Other Education Assistance Summary This Chapter discusses the taxation of scholarships, fellowships, bursaries, prizes, research grants, certain government financial assistance for education and training, forgivable loans and repayable awards. Paragraph 56(1)(n) generally includes

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Income Tax Folio S7-F1-C1, Split-receipting and Deemed Fair Market Value

Income Tax Folio S7-F1-C1, Split-receipting and Deemed Fair Market Value Series 7: Charities and Non-profit Organizations Folio 1: Charitable Gifts and Deductions Chapter 1: Split-receipting and Deemed Fair Market Value Summary The purpose of this Chapter is to provide the CRA’s views on the application of subsections 248(30) to (41), which include the rules commonly referred to

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Income Tax Folio S1-F1-C1, Medical Expense Tax Credit

Income Tax Folio S1-F1-C1, Medical Expense Tax Credit Series 1: Individuals Folio 1: Health and Medical Chapter 1: Medical Expense Tax Credit Summary The medical expense tax credit provides tax relief for individuals who have sustained significant medical expenses for themselves or certain of their dependants. The medical expense tax credit is a non-refundable tax credit that is applied

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Income Tax Folio S1-F1-C2, Disability Tax Credit

Income Tax Folio S1-F1-C2, Disability Tax Credit Series 1: Individuals Folio 1: Health and Medical Chapter 2: Disability Tax Credit Summary The disability tax credit is a non-refundable tax credit that provides tax relief for individuals who have a severe and prolonged impairment in physical or mental functions by providing a credit against Part I taxes payable. The disability tax credit

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Income Tax Folio S1-F1-C3, Disability Supports Deduction

Income Tax Folio S1-F1-C3, Disability Supports Deduction Series 1: Individuals Folio 1: Health & Medical Chapter 3: Disability Supports Deduction Summary The disability supports deduction (commonly referred to as the attendant care deduction for tax years prior to 2004), provides tax relief for individual taxpayers who have paid for certain medical expenses to enable them

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