10 Tax Tips

Accountant Mississauga

Tax Tip#6 Tax Credits

6. Failure to pick up provincial/territorial credits. A number of taxpayers also fail to take advantage of provincial and territorial tax credits, such as property and sales tax credits. Even students who are earning minimal income are eligible for these credits but tend to forget about them, says Gena Katz, principal of Ernst & Young in Toronto.

As well, taxpayers in a married or common-law relationship sometimes incorrectly claim these credits individually without properly taking into account their spouse’s income.

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April 7, 2009 - Posted by | Accountant Mississauga |

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