Momentum Tax Class 2015
In this one, our guest speaker discusses the process of:
-Credits: Charity, Education, Medical Health, Travel for Medical Health, Child Care. ETC...
-Reductions
-Deductions
-Education
-Claiming your children and spouse
-Always Claim your taxes Each January even if you have been at the same company for more than a year to keep up with yearly tax credits.
Audio Recording of 2015 Tax Class
Here is the Post - Education Credit Process:
- One is credit used for Text Books against Province Taxes
- Second is text book credit used against Canadian Taxes
Note: Our Speaker points out that you can use credit back for not working while in Post - Secondary and get credit back. How this works, I have yet to use this tactic to get taxes back even if I have not worked in the reporting year.
Federal Tuition, Education and Textbook Amounts
Year | Amount from prior year | Current year amount | Current year amount applied | Transferred amount | Amount from prior year applied | Amount available for carry forward |
2002 | | $2,355.00 | | $2,355.00 | | |
2001 | | $1,139.00 | | $1,139.00 | | |
Provincial Tuition, cation and Textbook Amounts
Year | Amount from prior year | Current year amount | Current year amount applied | Transferred amount | Amount from prior year applied | Amount available for carry forward |
2002 | | $3,417.00 | | $3,417.00 | | |
2001 | | $1,139.00 | | $1,139.00 | | |