Shocking tax tips you’re missing out on!

Perfectly legal tax-slashing measures you can’t afford to overlook

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7 comments on “Shocking tax tips you’re missing out on!

  1. On the 5th post “While the Liberals have axed the textbook credit, they can be carried forward from before 2017 and are claimable in later years.”
    Didn’t they also axe the tuition credit?

    Reply

    • Hi there,
      Thanks for reading! The Liberals have nixed the education tax credit but are not axing the tuition credit, which is different.
      Prajakta

      Reply

      • Thanks for your response, what are the differences between the two?

        Reply

        • Hi there. The tuition tax credit only takes into account tuition fees paid, whereas the education tax credit took into account whether you’re a full time or part time student and doled out a certain amount based on the number of months you’d be enrolled. Here are more details: http://www.cra-arc.gc.ca/E/pub/tg/p105/p105-e.html#P179_16322
          Thanks!

          Reply

  2. 10% de $20,000 – n’est ce pas $2,000 et non $200

    Reply

  3. I feel like I’m reading the National Enquirer when the article refers to “shocking” tax tips. Even if some of them are less well known they are hardly what I would call “shocking”. I expect many of your other readers won’t be shocked by most of these, either. I’m curious as to why MoneySense feels the need to sensationalize what should be a fairly straightforward article.

    Reply

  4. On number 17 it says if you use 10% of your home for an office and expenses are $20 000, then you can use a tax credit of $200. How is that calculated? 10% of $20000 is $2000. Is this a calculation error or am I missing something?

    Reply

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