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Who can claim Ontario Staycation credit?

Ontarians who stayed at a short-term accommodation for less than a month in province can claim the expenses through the credit so long as it is a hotel, motel, resort, lodge, bed-and-breakfast, cottage, campground or vacation rental property.

What is the form 479 used for?

The Provincial 479 forms calculate Provincial/Territorial refundable credits.

Who will receive $500 tax credits in Ontario?

This one-time, tax-free $500 payment is intended to support lower-income individuals and families who struggle with the cost of rent. Since the Government of Canada launched the benefit on December 12, 2022, more than 600,000 renters in Canada have already received their one-time payment.

Where do I claim the staycation tax credit in Ontario?

It goes on line 47900, Lemay told CTV News Toronto Friday. Ontarios staycation tax credit can be found underneath the Ontario childcare access and relief from expenses (CARE) tax credit.

Who qualifies for the lift credit in Ontario?

also known as Low-Income Workers Tax Credit An individual with only employment income will have zero provincial income tax with employment income up to approximately $30,490 in 2022. However, the Ontario Health Premium is payable on taxable income greater than $20,000.

jv 479

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What is a BC479 form?

You claim the sales tax credit when you file your T1 Income Tax Return, by using the British Columbia Credits form (BC479). The credit is refundable to the extent it exceeds your income tax payable. You must claim the credit within 3 years after the end of the tax year.

What is the lift benefit for CRA?

This credit, the Low-income Individuals and Families Tax (or LIFT), provides up to $875 (or 5.05% of your employment income, whichever is lower), in relief to low-income taxpayers, including those earning minimum wage for the 2022 tax year.

How do I get a lift credit in Ontario?

The LIFT credit is based on the individuals employment income - self-employment income is not used for this credit. There is no LIFT credit if there is no employment income, nor is there a LIFT credit if there is no provincial income tax otherwise payable.

Get the up-to-date the 479 order form 2024 now