If you’re a tax payer with a lower income, you can reduce or get rid of the payable Ontario income tax with the Ontario Tax Reductions. If you were a Canadian resident at the beginning of the year or an Ontario resident on December 31st of the year, you may qualify for an Ontario Tax Reduction. You won’t be allowed to claim the reduction is you paid Ontario minimum tax (line 52 of form ON428).
On the 31st December of the year, if you had a spouse or a common-law partner, the individual with the higher net income can claim the Ontario Tax Reduction. Your income tax payable (before the reduction), the number of dependent children you have (who are 18 years or less) and the number of mentally or physically dependent individuals can influence the amount of your Ontario tax reduction.
So how do you get to claim an Ontario Tax Reduction on your personal income and benefit return? All you have to do is complete the ON428 form and send it in with your completer return to the Canada Revenue Agency. Documents supporting your claim aren’t necessary.
If you are looking for a professional accountant to do your taxes in Canada, then you have come to the right place as we are tax experts in Kingston Ontario and we can help process your income tax return quickly while maximizing the tax return you will receive. Our decades of income tax filing experience can help you with your personal and business taxes in Kingston. Remove the headache from taxes and let our skilled tax consultants handle your accounting and bookkeeping to process smooth tax returns for you. Precise, Accurate Instant Tax Refunds Since 2002.
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