Here are a few basic tax tips for the early birds

1. An individual who is single, divorced or widowed can claim an equivalent- to-married credit for a dependent family member. 
2. An employee who claims employment expenses can claim the GST rebate. 
3. Dividends can be transferred from one spouse to another if the first spouse has too low an income to take full advantage of the dividend tax credit. 
4. Family medical expenses should be aggregated on one return. And the family member with the lower income should usually claim the medical expense, because there is a net income threshold in determining that claim. Of course there has to be enough income to take advantage of the full credit. 
5. Charitable donations should he claimed on one spouse's return so you only get hit with the $200 low limit once. In some cases it makes sense to hold back on claiming the charitable donations until a subsequent year so again you only have that $200 limit one time, instead of each year. 
6. It often makes sense to have teenage children file tax returns to take advantage of various provincial refundable tax credits that are available. Also, even if their earnings are low and they're not making contributions, it creates RRSP contribution room for purposes of carry-forward. 
7. Individuals who moved during the year to start a new job, or are starting their first job and moved from where they were going to school, are entitled to claim moving expenses. 
8. Tuition education credits that can't be used by the student can often be transferred to a parent or spouse. 
9. If a family member has a prolonged illness or impairment, there is a disability credit that can be claimed. 
10. For child-care deductions, the age limit has increased to 16. So individuals who may otherwise not have been making a claim because their children were too old, can make a claim this year. 

 

 

And it doesn't have to be for child care in the traditional sense, like baby sitting. It can be something like summer camps, as well. But again it has to be claimed by the lower income spouse and it can only be claimed to the extent that there is earned income.