January 14, 2008
CRA Tax Tip: The age amount has increased
The following tax tip was provided by the Canada Revenue Agency.
Did you know…
That if you were 65 or older on December 31, 2007, and your net income was less than $65,449, you can claim the age amount? You may also be able to transfer unused portions of the age amount to your spouse or common-law partner.
For more information, visit www.cra.gc.ca/individuals and select “A” from the drop-down menu for “Age amount.”
Posted by Taxes.ca Editorial Team [permalink]
TAXES.CA provides taxation and personal finance information. The view and opinions expressed by authors in our postings are not necessarily those of TAXES.CA. Information on this site should not be construed as investment advice. For taxation and financial planning advice users are advised to consult a professional. For additional information visit TAXES.CA's Terms of Service.
|
