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2014 Personal Tax Credits - Base Amounts
Canadian Tax and
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Non-Refundable Personal Tax Credits - Base Amounts
The tax credits in this table have been calculated using the indexation
factors shown in the bottom line of the table. The indexation factors have been confirmed
to Canada Revenue Agency (CRA) factors. Personal tax credit
amounts have been confirmed to CRA.
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)
n/a means there is no cap on the amount of medical expenses for other
eligible dependants. (3) The Family
Caregiver Amount (FCA) of $2,058 is added to these amounts in certain
circumstances, for Federal and Yukon tax credits. The income threshold, if
applicable, is also increased by the FCA. (4) BC's basic personal amount is reduced from
2013 because of the re-implementation
of the PST. (5) Federal adoption tax credit
increased to $15,000 as per 2014
Budget. BC and YT use the federal amount. (6)
For Quebec taxpayers, each federal tax credit is, in
effect, reduced by 16.5% as a result of the federal
Every taxpayer gets a tax credit for the basic personal amount, so any
person can earn taxable
income of $11,138 in 2014 without
paying any federal tax, and can earn anywhere from $7,708
to $17,787, depending on the province or territory in which
they live, without paying any provincial or territorial tax.