The government of Canada introduced some more tax credits last year for Canadians. Below is a brief summary of what is available.
- First Time Home Buyer’s Tax Credit – Save up to $750
- Children’s Arts Tax Credit – Save up to $75 per child*
- Volunteer Firefighter’s Tax Credit – Save up to $450*
- Children’s Fitness Tax Credit – Save up to $75 per child
- Public Transit Tax Credit – Save up to 15%
- Tradeperson’s Tools Deductions – Deduct up to $500 from income
For more information on these we suggest you visit the website for Revenue Canada at www.cra.gc.ca/taxcuts.
On the interest rate front, rates held steady for the last month. We are still waiting to see what will happen in Europe, in particular Greece, as this will set the tone for economic recovery here in the West.