For those of us who love numbers, here are the latest 2019 tax numbers, including RRSP and TFSA room etc.

Working Folks:

2019 $26,500
2018 $26,230

 

  Annual Limit Cumulative Limit
2019 $6,000 $63,500
2018 $5,500 $57,500

 

2019 $57,400
2018 $55,900

 

2019 $53,100
2018 $51,700

 

2019 $866,912
2018 $848,252

 

  Threshold
2019 $2,352 or 3% of net income, whichever is less
2018 $2,302 or 3% of net income, whichever is less

 

  • Donation tax credits: After March 20, 2013, the first-time donor super credit is 25% for up to $1,000 in donations, for one tax year between 2013 and 2017. This program has now expired.
  • Basic personal amount:
2019 $12,069
2018 $11,809

Retirees

  • Age amount: You can claim this amount if you were 65 or older on December 31 of the taxation year.
2019 $7,494
2018 $7,333

 

  • Pension income amount: You may be able to claim up to $2,000 if you reported eligible pension, superannuation or annuity payments.
  • OAS recovery threshold: If your net world income exceeds $75,910 for 2018 and $77,580 for 2019, you may have to repay part of or the entire OAS pension.

 

Families with children

  • Family caregiver amount: If you have a dependent who’s physically or mentally disabled, you may be able to claim up to an additional $2,150 in calculating certain non-refundable tax credits.
  • Disability amount: (non-refundable credit)
2019 $8,416 with supplement up to $4,909
2018 $8,235 with supplement up to $4,804 under 18 *reduced if child care expenses are claimed

 

  • Child disability benefit: The child disability benefit is a tax-free benefit for families who care for a child under age 18 with a severe and prolonged impairment in physical or mental functions.
2019 Up to $2,832
2018 Up to $2,771

 

2019 Children six and under Up to a maximum $6,639 per child
 2019 Children 7 through 16 Up to a maximum $5,602 per child
2018 Children six and under Up to a maximum $6,496 per child
2019  Children 7 through 16 Up to a maximum $5,481per child

 

  • Universal child care benefit (UCCB): This benefit was replaced with the Canada Child Benefit as of July 1, 2016. However, Canadian residents can still apply for previous years if you meet certain conditions, including living with the child and being primarily responsible for the child’s care and upbringing.
  • Child care expense deduction limit (These are the same as in 2015)
Children under 7 years of age $8,000
Children aged 7 through 16 $5,000
Children eligible for the disability tax credit $11,000
  • Children’s fitness tax credit: This credit has been phased out, and is gone as of 2017. If your children played baseball, soccer, or participated in some other program of physical activity, you may be able to claim up to $500 in 2016 ($0 in 2017), per child, of the cost of these programs. Until 2017, you can claim an additional $500 for each eligible child who qualifies for the disability amount and for whom you’ve paid at least $100 in registration or membership fees for an eligible program. As of 2015, this is a refundable credit.
  • Children’s arts tax credit: This credit has been phased out, and is gone as of 2017. If your children participated in a program of artistic, cultural, recreational, or developmental activity such as tutoring, you may be able to claim up to $250 of the fees paid, per child, on these programs in 2016 ($0 in 2017). Until 2017, you can claim an additional $500 for each eligible child who qualifies for the disability amount and for whom you’ve paid at least $100 in registration or membership fees for an eligible program.

Source: www.advisor’s.ca

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