Hi Everyone:
My past couple of weeks have been a bit busy and in that businesses a noticed a few things about the tax changes this year. Mainly higher refunds (as odd as that may sound with Ontario’s deficit
- Those qualifying for the Working Income Tax Benefit (WITB) are getting more AND are getting a flat refund rather than payouts-a decent amount at that.
- A qualifying dependant for Basic Personal Amount (that’s refundable for lower income) is easier to get and ANY dependant can qualify.
- Ontario has a new tax credit that is refundable called the Climate Action Incentive-while I doubt it is helping the Climate it is defiantly helping us in Ontario anyhow.