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2009 Tax Credits - Tax Amounts
Canadian Tax and
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equivalent to spouse tax credit amount is not the same as the spouse
amount. It is $617, 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.