Worksheet for the 2024 Alberta Personal Tax Credits Return-2025

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For the 2024 tax year, the federal basic personal amount is $15,7051 and the Alberta basic personal amount is $21,885. The creditcalculated by multiplying the tax rate for the lowest tax bracket by the basic personal amountis applied against the tax calculated on taxable income.
For 2024, the EITC is worth up to $7,830 for eligible families with three or more children, up from $7,430 for 2023, ing to the IRS. Eligible workers ages 25 to 64 without kids can claim up to $632 for 2024. By law, the IRS cant issue EITC refunds before mid-February, ing to the agency.
Tax credits and the basic personal amount Tax credits are used to reduce the amount of tax that would otherwise be payable, with the most common being the basic personal amount. For the 2025 tax year, the Alberta basic personal amount is $22,323.
You may be eligible for a California Earned Income Tax Credit (CalEITC) up to $3,644 for tax year 2024 as a working family or individual earning up to $31,950 per year. You must claim the credit on the 2024 FTB 3514 form, California Earned Income Tax Credit, or if you e-file follow your softwares instructions.
The Alberta is Calling: Moving Bonus is a refundable tax credit of $5,000 for up to 2,000 eligible individuals who move to Alberta between May 1, 2024 and December 31, 2024, work in an eligible occupation and meet all remaining criteria.

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So far in 2024, the average federal income tax refund is $2,850, an increase of 3.5% from 2023. Its not entirely unexpected: To adjust for inflation, the IRS raised both the standard deduction and tax brackets by about 7%.
If you have a child, you may be eligible for the Child Tax Credit. For 2024, the credit is up to $2,000 per qualifying child.

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