Category: Tax Tips

Traveling by public transit has its tax advantages. You can claim the cost of monthly transit passes or passes of longer duration for public transportation, which includes local bus service, streetcar, subway, commuter train, commuter bus and local ferry. The cost of passes for shorter duration may also be claimed if each pass allows you […]

As a parent, you can claim an amount for eligible adoption expenses related to the adoption of a child who is under 18 years of age. The maximum claim for each child is $10,909. You can claim these incurred expenses in the tax year that includes the end of the adoption period in respect of […]

The Income Tax Act treats spouses and common-law partners the same way. However, it is important to understand what the terms mean. A “spouse” is someone to whom you are legally married. The definition of a “common-law partner”, on the other hand, depends on whether or not you have children. If you start cohabitating with […]

A Registered Education Savings Plan (RESP) is a special savings account that can help you, your family or friends start saving now for your child’s education after high school. RESPs are registered by the Government of Canada so savings for education can grow tax-free until the person named in the RESP enrolls in studies after […]