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Drive a Car?

ImageHere are some tax tips if you use your car for your business or work.

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Age Amount

The age amount has increased from $4066 to $5066 for the 2006 tax year. If  you are 65 years old by Dec 31, 2006 and your net income is under $64,043. you can claim this amount.

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Keep Your Monthly Transit Pass

ImageThe cost of your monthly transit pass can be used as a federal non refundable tax credit starting in the June 2006 tax season.

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Children's Fitness tax Credit At Last

ImageKeep your receipts for the cost of your childs sports and fitness activities. At last there will be a deduction for putting your children in fitness or sports activities starting in the 2007 tax year.

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Don't Miss The RRSP Boat!

ImageYou have until March 1, 2007 to contribute to an RRSP for the 2006 tax year. Do not miss this opportunity to reduce your tax payable and save for retirement.

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