keep this website free for you. TaxTips.ca does
not research or endorse any product or service appearing in
ads on this site.
Before making a major financial decision you
should consult a qualified professional.
2009 Tax Credits - Base Amounts
Canadian Tax and
If you use an ad blocker, please consider a
small contribution to
help keep TaxTips.ca free for everyone.
equivalent to spouse amount is not the same as the spouse amount. It is
$6,294, reduced when dependent income exceeds $629, and eliminated when
dependent income exceeds $6,923. (2) Nova Scotia base
amounts are not indexed for inflation. The base amounts up to the year
2010 are indicated in the Nova
Scotia Income Tax Act. The indexing factor is the approximate amount
of the increases. The following items are not increased each year:
- child amount for
dependent children under 6
- medical expense tax
- education and textbook
personal amount, spousal amount, equivalent to spouse amount, and age amount
increased as per January 27, 2009
Federal Budget. These revisions, in Bill C-10, received Royal Assent
on March 12, 2009.
(4) NB lowest tax rate reduced from 10.12% to 9.65%
for 2009, by the NB 2009 Budget.
Every taxpayer gets a tax credit for the basic personal amount, so any
person can earn taxable
income of $10,320 in 2009 without
paying any federal tax, and can earn anywhere from $7,708
to $16,775, depending on the province or territory in which
they live, without paying any provincial or territorial tax.