(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

Program helps families on tight budgets afford healthy foods

Nutritional coupon program allows participants to buy more fruits, vegetables

Salmon returns remain low on some South Island rivers

DFO officials say more fish returning after slow start

Orca-inspired sculpture pitched for Victoria Johnson Street Bridge park

Designs unveiled as part of plans for public space around bridge

New Topaz Park plans include second Victoria skatepark

Splashpad, pickleball court and fenced off-leash parks being considered

Island Health sends out call to staff supervised consumption service in Victoria

Request for proposals open until January, site to open in late spring 2018

Me Too At Work: Sexual assault and harassment in the B.C. workplace

Introducing an in-depth look at who is affected and what can be done

More than 20,000 pounds of garbage removed from riverside homeless camps

Two camps taken down last week on the banks of the Fraser and Chilliwack rivers

Suspect in Revelstoke standoff killed himself: RCMP

Mohammadali Darabi, suspect in the Calgary homicide of his roommate, was stopped in Revelstoke

Clinton visits Vancouver, applauds Trudeau, celebrates Democrats’ win in Alabama

Clinton told crowd she cheered when Prime Minister Justin Trudeau appointed the country’s first gender-balanced cabinet.

VIDEO: Salt Spring Islanders ferry piano to their floating home

Everyone enjoys a little music on the water, but not everyone has a piano on their boat

Victoria water main break forces closure of George Jay elementary for the day

City crews were able to restore water service to school by mid-afternoon

Vikes make bid to host national men’s basketball championships in 2019

Langford, Bear Mountain join UVic bid for nationals

Bomb detonated in Kamloops neighbourhood

Kamloops RCMP are investigating after an improvised explosive device was detonated Wednesday morning

Big Christmas donation

Village Foods helps out Sooke Christmas Bureau with $3,000 food donation

Most Read