You may already know of a few credits, deductions and benefits you are entitled to claim on your tax return, but do you really know all of them? Have you ever looked at your tax situation and researched various tax deductions you may be eligible for? Unless you’re an accountant, many of us just don’t know or take advantage of all the tax deductions possibly available to us. The Canadian Revenue Agency’s web site is a good place to start. With tax season just around the corner it has a wealth of information on various items you could claim on your taxes based on your current tax situation.
For many, 2009 was a rollercoaster of ups and downs due to the economic crunch. We could all use as many tax tips and deductions as we can get this year. Starting January 12, 2010 the CRA will be issuing a variety of tax tips to help you determine which credits, deductions and benefits you may be able to claim on your 2009 income tax and benefits return.
For more information and to find out what you are eligible to claim check out the Canadian Revenue Agency web site: