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What is new for Canada's Federal Tax Filing for 2009?

What is new for Canada's Federal Tax Filing for Tax Year 2009?

Tax Cuts at your Fingertips, Reach out and Claim Yours!!

Claim the new home renovation tax credit (HRTC) administered by the Canada Revenue Agency. Keep all your receipts to prove it! That will give you a a home renovation maximum tax credit of one thousand, three hundred, and fifty dollars ($1,350).

And that's just for starters.

The new maximum for the HBP (Home Buyers Plan), one is able to withdraw twenty-five thousand dollars ($25,000) from your RRSP under the Home Buyers' Plan to put towards the purchase of a new home.

That's good news for the housing market.

And, with the new Home Buyer's Tax Credit, you are also eligible to claim another non-refundable tax credit of $750!

And then, of course, there are increases to many of the non-refundable tax credits that all of us may be able to claim.

For instance, amounts relating to dependents, and spouses or common-law partners.

There's a higher age amount too.

Check out the CRA Web site. http://www.cra-arc.gc.ca/menu-eng.html

The site has a ton of information. Just click on "Individuals" and get info that's specific to your tax situation, no matter who you are! Or, click on "Online services" to get all the info about the CRA's quick, easy, and secure services.

And some of the biggest news items are always in the Key Information, Announcements and Highlights sections right on the Home page.

You can file your return using NETFILE-certified software, and just filed it through NETFILE on the CRA Web site.

It is easy, secure, and barely took any time.

And, if you owe money, there's a new way to pay called My Payment.

What are you waiting for, visit the site now. http://www.cra-arc.gc.ca/menu-eng.html

This is presented for general information only, consult your financial advisor on how these tax changes will affect your situation.

Informational video from Canada Revenue Agency on what's new for tax filing 2009

Play this video of what's new for federal tax filing for tax year 2009. Check it out now....................

Labels: home buyers plan, home renovation tax credit, put your tax dollars back into your home, Retirement Planning, tax credits, tax cuts, tax planning

posted by laramaryann @ 10:12 AM