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Created with Fabric.js 1.4.5 RFS Presents: The CRA's Top 5 Tax Tips! The Children's arts tax credit and the children's fitness tax credit allow you to claim a 15% non-refundable tax credit on an amount up to $500/child per credit on the fees you've paid in 2013 to register a child in a prescribed program of eligible activities. This can give you a credit of up to $75 per child per credit. If you have a dependent with an impairment in physical or mental functions, the additional amount you may be able to claim has increased to $2,040 when calculating certain non-refundable tax credits. The annual TFSA dollar limit increased to $5,500 on January 1, 2013, for the 2013contribution year, and remains at that amount for the 2014 contribution year. This new credit for first-time donors gives an extra 25% credit for cash donations when you claim your charitabledonations tax credit. This means you can get a 40% federal credit for up to $200 in donations and a 54% credit forthe part of donations that is over $200 but not more than $1,000. This is in addition to the provincial credit. For more information visit: For more information visit: 1. 2. The Canada Revenue Agency (CRA) has tax credits, deductions, and benefits to help students. All you have to do is file your income tax and benefit return and claim them. 5. 3. 4. Regal Financial Solutions 613-852-4545 1375 Bank StreetSuite 100 This information was retrieved from the CRA website, is intended for general purposes only. This diagram is simply to provide basic information and should not replace professional advice. Criteria may vary depending on specific circumstances. For more information please visit
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