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Tax cuts at your fingertips - reach out and claim yours

What's new for the 2009 individual filing season?

The Government of Canada has introduced new income tax relief measures and made changes to existing credits, deductions, and benefits to help Canadians save on their taxes. These changes will be reflected on the 2009 income tax and benefit return. Some of them are:

Basic personal amount: The amount has increased to $10,320. For more information, see line 300 - Basic personal amount.

Age amount for persons 65 years of age or older: The maximum amount has increased to $6,408. For more information, see line 301- Age amount.

Spouse or common-law partner amount: The maximum amount has increased to $10,320. For more information, see line 303 - Spouse or common-law partner amount.

Amount for an eligible dependant: The maximum amount has increased to $10,320. For more information, see line 305 - Amount for an eligible dependant.

Home renovation expenses: For 2009 only, you may be able to claim an amount for eligible expenses incurred for work performed or goods acquired after January 27, 2009, and before February 1, 2010. For more information, see line 368- Home renovation expenses.

Home buyers' amount: You may be able to claim an amount of $5,000 if you purchased a qualifying home after January 27, 2009 (closing after this date). For more information, see line 369 - Home buyers' amount.

Home Buyers' Plan (HBP): The maximum amount you can withdraw from an RRSP under the HBP has increased to $25,000. For more information, see Home Buyers' Plan (HBP).

Registered disability savings plan (RDSP): The deadline for opening an RDSP, making contributions, and applying for the matching grant and the income-tested bond for 2008 was extended from December 31, 2008, to March 2, 2009. The 2009 RDSP contribution year began March 3, 2009.

Registered retirement savings plans (RRSPs) and registered retirement income funds (RRIFs): If an unmatured RRSP or RRIF of a deceased person decreases in value after the person's death, and the final payment from that RRSP or RRIF is made after 2008, a deduction may be claimed on the final return of the deceased person for the decrease in value. For more information, see Guide T4040, RRSPs and Other Registered Plans for Retirement.

Apprenticeship completion grant: If you received an apprenticeship completion grant in 2009, enter that amount on line 130. For more information, see line 130 - Other kinds of income.

Investment tax credit: The deadline to claim the mineral exploration tax credit on qualifying expenses renounced under flow-through share agreements has been extended to March 31, 2010. For more information, see line 412 - Investment tax credit.

How do I file my return?

Tax returns can be submitted to the Canada Revenue Agency (CRA) electronically using NETFILE or EFILE, or by phone using TELEFILE. If you are filing a paper return, mail it to the CRA using the envelope included in your tax package. For more information, go to www.cra.gc.ca/tx/ndvdls/tpcs/ncm-tx/rtrn/sndng/menu-eng.html.

How do I make payments?

Payments to the CRA can be made electronically, at your financial institution, or by cheque or money order. If you have access to online banking at a participating financial institution, you can make payments to the CRA online using the new My Payment option introduced in 2009. For more information, go to www.cra.gc.ca/tx/ndvdls/tpcs/ncm-tx/pymnts/hwmk-eng.html.

What is the deadline for filing?

File your 2009 income tax and benefit return before midnight on April 30, 2010. If you or your spouse or common-law partner carried on a business in 2009 (other than a business whose expenditures are primarily in connection with a tax shelter), your return for 2009 has to be filed on or before June 15, 2010. However, if you have a balance owing for 2009, you still have to pay it on or before April 30, 2010.

If you file your return after April 30, 2010, your credit and benefit payments may be delayed. For more information on filing and payment deadlines, as well as dates for various credit and benefit payments, go to www.cra.gc.ca/dates-ind.

For more information on various tax topics, go to www.canada.gc.ca/taxinfo.

Related document

News release: Minister Keith Ashfield reminds Canadians to reach out and claim tax cuts

This document is also available for download in PDF format.

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Date modified:

2014-12-03