How the age amount and pension income amount tax credits can benefit you

You may be eligible for the age amount and pension income amount tax credits. Canada’s Minister of Seniors, Kamal Khera, shares important information on how these credits can save you money.

Delivered text:

Hello everyone, I’m Kamal Khera, Minister for Seniors.

Right now Canadians, including seniors from coast to coast to coast, are getting ready to file their taxes.

BUT what you might not know is that many seniors qualify for special tax credits!

This tax season my goal as Minister for Seniors is to make sure that all older Canadians are taking advantage of our government’s new and existing tax credits!

For example, did you know the age amount AND pension income amount tax credits could be available to you?

The age amount tax credit is designed to put more money back in the pockets of older Canadians who need it most.

In addition, through the pension income amount credit, eligible seniors may be able to claim a non-refundable tax credit of up to $2,000.

Right now, we know that Canadians and in particular older Canadians are facing challenges when it comes to affordability and so it’s extremely important that everyone who is eligible makes sure they apply.

You can visit the CRA website for more information on these and other benefits and credits you may be able to take advantage of this tax season.

Make sure to stay tuned as I’ll be continuing to provide information on other tax credits which could save you thousands of dollars in the weeks to come.