refundable credit
Loopholes Tagged "refundable credit"
Plain-English guides to Canadian legal rights and workarounds related to refundable credit.
Canada Workers Benefit — Refundable Tax Credit Up to $2,616 for Low-Income Workers
The Canada Workers Benefit is a refundable tax credit worth up to $1,428 for individuals and $2,461 for families — and you can receive up to 50% of it as quarterly advance payments throughout the year instead of waiting for your tax refund.
Canada Training Credit — Up to $5,000 Back on Education Costs
Canadians aged 26–65 accumulate $250 in training credit room each year (up to a $5,000 lifetime limit) that can be claimed as a refundable credit against eligible tuition and training fees — most people don't know it's accumulating on their Notice of Assessment.
SR&ED Tax Credits — Recover Up to 35% of R&D Costs from the CRA
Canadian businesses doing qualifying research, development, or technological problem-solving can claim the Scientific Research and Experimental Development (SR&ED) tax credit — a refundable 35% federal credit for small CCPCs on eligible expenditures up to $3 million, plus additional provincial credits.