Our tax experts will make sure you benefit from all tax credits as a senior citizen. There are more than three tax credits as a senior citizen, but we will start with these three.
Age
Pension Income
Disability Tax Credit
As of 2016, Canada has given tax credits for renovations done to the house to make it more accessible and to help with mobility for senior citizens. You are allowed up to $10,000 worth of expenditures (maximum credit of $1,500).
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Any unused tax credits from your spouse or common-law that is unused can be transferred to you.
There are two different types of pension income. Depending on the type of pension income, you can split it with your spouse or common-law.
- Income that qualifies
- Income that does not Qualify are CPP (Canadian Pension Plan) and OAS (Old Age Security)
Our accounting company will be more than happy to help you with all your tax needs. Book an appointment today and come in.
We have worked with our customers for years. Once you have us fo your tax preparation, you won’t want to leave. We serve over 10,000 clients annually, our numbers speak.
Mercury tax way is to make sure you get the maximum refund at a low cost! That is the Mercury Tax Advantage!