10 Tax Tips

Accountant Mississauga

Tax Tip #7 Transfers to Spouse

7. Unused transfers to spouse. A variety of federal non-refundable tax credits can be transferred between spouses, particularly useful to individuals at a lower income level. Yet taxpayers tend to miss out on claiming certain credits, like the age credit and first $1,000 of pension income, say tax pros.

Another tax credit that taxpayers sometimes miss out on is the equivalent-to-spouse amount.

Although many are aware of the spousal credit, they don’t know that a similar credit exists for single, separated or divorced people who have a dependent relative living with them.


April 7, 2009 - Posted by | Accountant Mississauga | ,

No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: