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2011 Tax Credits - Base Amounts
Canadian Tax and
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equivalent to spouse amount is not the same as the spouse amount. It is
$6,294, reduced when dependant income exceeds $629, and eliminated when dependant
income exceeds $6,923. (2) SK basic personal, spousal &
equivalent to spouse, and child amount tax credits increased by SK
2011 Budget. (3) NS basic personal, spousal &
equivalent to spouse, age, disability, caregiver, infirm dependant (18+) and
pension amounts increased based on the NS 2011
Budget. The infirm dependant amounts above have
been estimated using an increase of 3.037%. (4) MB basic personal, spousal and
equivalent to spouse amounts increased based on the MB
2011 Budget. (5)
The 2011 Federal Budget proposed to remove the cap of $10,000 beginning in
the 2011 taxation year. This measure was included in Bill
C-13 which received Royal Assent (became law) on December 15, 2011.
Saskatchewan, Yukon and Nunavut use the Federal Schedule 1 amount for the medical expenses
for other eligible dependants.
Every taxpayer gets a tax credit for the basic personal amount, so any
person can earn taxable
income of $10,527 in 2011 without
paying any federal tax, and can earn anywhere from $7,708
to $16,977, depending on the province or territory in which
they live, without paying any provincial or territorial tax.