Have You Done Your 2017 Canadian Taxes Yet? If Not, Here Are Some Things You Should Know.
Some things have been added; some things have been taken away. The feds want a zero bottom line impact, while trying to please now and future voters. So what was their solution? Read below and then click the link to get more details.
- More help for folks with fertility problems – you don’t need to prove a medical problem to qualify and you can go back as far as ten years to adjust your returns. It can take a long time to hatch a baby!
- Nurse practitioners have been added to the list of professionals who can certify a disability.
- The federal education and textbook deduction is gone.
- You can claim the transit deduction up until June 30 of 2917. After that it disappears.
- Arts and fitness programs for kids can no longer be deducted.
Given with one hand, taken away with the other
- Even though the federal education and textbook deduction is gone, the tuition deduction remains, including for occupational skills programs taken at a post-secondary institution.
- The caregiver deduction has been increased to $6,883 and rolled into one deduction from three, but your dependent, if 65 or older, must be infirm to qualify.
Click here for more and consult a taxation expert to see how these changes may affect you: HuffPost on Taxes
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