Planning Your Personal Taxes for 2017 – Federal Personal Tax Credits

The personal credits listed below apply for 2017:

                                                                                     Gross                              Credit (15%)

Basic personal                                                               $11,635                              $1,745

Spouse or eligible dependent(1), (2)                            $11,635                              $1,745

Canada Caregiver Credit

Infirm dependent under age 18 (3)                           $2,150                                 $322

Infirm dependent age 18+ (3)                                     $6,883                                 $1,032

Age(4)                                                                               $7,225                                $1,084

Disability                                                                        $8,113                                 $1,217

Additional disability for child under 18 (4)              $4,733                                 $710

Notes:

(1) Reduced by spouse’s net income.

(2) Enhanced by $2,150 ($322 credit) if dependent is infirm.

(3) Reduced by dependent’s net income in excess of $16,163;.

(4) The Age credit is reduced by an amount equal to 15% of an individual’s net income exceeding $36,430.

(4) Reduced if child care and attendant care expenses exceed $2,772.