Tax Tips Infographic

Taxes can be confusing, and the CRA tax rules continue to change. This Tax Tips infographic is updated annually and outlines deductions and credits to help ensure your clients are claiming all they are allowed to help lessen their tax bill.

Search for relevant Canadian tax credits and deductions.

Homeowner Tax Credits

If you own a home, there are several credits and deductions you may qualify for:

  • First-Time Home Buyers’ Tax Credit – Offers financial relief for new homeowners.
  • First Home Savings Account – Contributions may provide additional tax benefits.
  • Home Accessibility Tax Credit – Helps offset costs for making your home more accessible.
  • Multi-Generational Home Renovation Tax Credit – Supports families renovating to accommodate multiple generations.
  • GST/HST Residential Rental Property Rebate – Helps recover some taxes on eligible home improvements.

Student Tax Credits

For students, the infographic highlights opportunities to save:

  • Tuition Tax Credit – Reduces the amount of tax owed on eligible tuition fees.
  • Student Loan Interest Deduction – Provides relief on interest paid for qualifying student loans.
  • Moving Expenses Credit – Helps cover relocation costs if you moved for post-secondary education.

Workforce and Employment Credits

Our Tax Tips infographic also outlines credits and deductions for those in the workforce:

  • Self-Employed Deductions – Claim business-related expenses to lower taxable income.
  • Tradesperson Tool and Dues Deductions – Eligible tradespeople can offset costs for tools and professional dues.
  • Work from Home Program – Claim home office expenses if you worked remotely.
  • Canada Employment Amount – Additional tax savings for employees.

Why Use the Tax Tips Infographic

This year’s edition features a comprehensive two-page layout with the latest credits and deductions. It’s an essential tool for tax planning and preparation, ensuring you don’t miss opportunities to save.

Share this infographic with your clients to make sure you and your clients are taking full advantage of available tax credits and deductions.

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