Canadian MPs have been touring the country to remind citizens about the tax credits available, with many not being taken advantage of.
Keith Ashfield, Minister of National Revenue said: "This government is committed to reducing the tax burden on Canadians. Tax relief measures are an essential part of the Government's effort to stimulate the economy."
One tax benefit that the government was keen to publicize was the various non-refundable credits and deductions for students. These cover such items as tuition, education and textbook amounts, and the student loan interest amount. Another tax break helps employed tradespersons and apprentice mechanics, who can deduct the cost of their tools used to earn employment income. The deduction lets them claim up to CAD500 toward the cost of new tools.
"Our government has implemented close to 120 tax reduction measures to reduce the tax burden on Canadians," said Ashfield. Each year, about 65% of Canadians who file their returns get a refund, according to the government. .Tags: tax | trade | education | Canada | interest | tax credits | Canada
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