Chpt 4 Tax Credits Flashcards
What line is the basic personal amount found on?
Line 300 of T1 general
What is the basic personal amount you can claim for 2012?
10,822
What is the definition of a spouse
Someone you are married to
What is the definition of a common law
Living In a conjugal relationship and also one if the following applies
- living with you for 12 consecutive months (ecluding a 90 day period)
- is a parent of your child by birth or adoption(the day you move in you are considered c/l)
- Has custody and control of your child and your child is wholly dependant on that person (you do not work and they are supporting you and your child)
What do you need to provide when claiming the sopuce amount
you need your spouse or c/l’s, SIN, First name, net icnome (even if zero)
what is the amount you can claim for th espouse amount?
10,822 less their net income
where do you enter spousal amount
line 303 schedule 5
what are all the requriements that must be met in order claim an eligible dependant
you must meet all requirements at some point in the year
1. not married or not c/l or married or c/l and separated and not being supported by the other person
(chris and lisa separated for 45 days, lisa supported rachael during the separation. lisa can claim eligible dependnat for rachael for the period of separation even though it was less than 90 days)
2. You supported a dependant in 2012 (wholly dependant)
3. lived with the dependant (in most cases in Canada, not visiting) in a home you maintained
Who can you claim the eligible dependent for
Parent or grandparent (by blood or marriage )
Child, grandchild, brother or sister (by blood or marriage or c/l or adoption)
Must be younger than 18 or have a physical or mental impairment
What are the imitations for claiming an eligible dependant ? Cannot be claimed by an individual
- For more than one person
- If the dependants net income exceeds 10,822
- If already claims g the spousal amount
- Must be single or Lu ing separately from their spouse
- If someone else is making the claim fir the same person
- If child support is being paid, only the recipient can claim them
What is the maximum amount you can claim for an eligible dependant?
10,822
What line etc is the eligible dependant amount on?
Line 305 of schedule 5
What are the requirements to claim children born 1995 or later?
- Only one parent can claim the amount for all children living with them under 18
- doesn’t affect any other claim made for this child
For children born 1985 or later what do you do if they were born, died or adoption
Can claim them in that year
What is the rate for children born 1985 or later?
2,191 / child if not claiming the family caregiver amount
What us the rate if you claim children 1995 or later and the family caregiver amount?
4,191/ child that they are claiming both for
What lube is the children burn 1985 or later?
Line 367
What us the definition if an infirmed dependant?
The person is dependant on the individual for a considerable period if time. Temporary illness does not count
How many people can claim the infirmed dependant 18 or older?
It can be split between two people as long as the amounts do not exceed 6,402
What if you have more than one infirmed dependant over 18?
You can claim them if they live with you
What are the requirements for infirmed dependant over 18?
- 18 or older at end if year
- Mentally it physically infirmed
- Dies not live with you
- Child or parent of taxpayer it spouse
- Grandchild, grandparent, brother, sister, aunt, uncle, neice, nephew or if Spouse
- must have a written letter say nature, when began, duration
Can you claim the infirmed dependant for a spouse or c/l?
No
What is the amount you can claim for infirmed dependant
12,822. Less the dependants net income to a maximum of 6,402 ????
What line and schedule is the infirmed dependant found on?
Line 306 schedule 5
What it the definition of the family caregiver amount?
Not a standalone credit Included with the calculation of certain already existing dependency credits
What are the other credits that can be calculated with the family caregiver amount?
- Spouse it c/l
- Eligible dependant amount
- Children born 1995 or later
- Infirmed dependants 18 or older amount
- Caregiver amount
What are the requirements in order to claim the family caregiver amount?
- Dependant must be 18 or older
- 18 or under the impairment must require more care than the normal for their age
- Can be claimed for each dependant
- must have a letter from dr
If you have more than one infirmed dependant can you claim the family caregiver amount
If you claim one of the other 5 credits then you can only claim thus credit for one infirmed dependant
What is the amount for the family caregiver
2,000
What line is the family caregiver amount on?
Line 306
What is the definition / requirement for the caregiver amount
Maintain a self contained domestic establishment in which they lived with the dependant relative who is
1. 18 or older
2. Ordinarily lives with you
3. Dependant on you due to mental or physical infirmity
Or
Is 65 or older and is a parent or grandparent (or if spouse)
5. Resident of Canada at some time in the past year (except child/ grandchild)
If you make child support payments can you claim the family caregiver amount for that child?
No
Can the caregiver amount be split between two people?
Yes but for no more than the maximum
If anyone is claiming the eligible dependant amount for this dependant who can claim the caregiver amount
Only the person claiming the eligible dependant amount
The amount is reduced by the amount for an eligible dependant claimed
What is the for each dependant
4,402 for each dependant
Or 6,402 if eligible for family caregiver amount
