Tax Tips

Click on any of the items below to learn more.


Deducting Bus Passes +

Here are the rules in deducting bus passes for taxes:

  • Only monthly or longer bus passes can be claimed.

  • You must keep both the receipt and the actual cancelled bus pass. This should be kept with your taxes so you can show the government if they ask for proof.

Deducting Medical Expenses +

Medical expenses can be claimed for any 12 month period ENDING in the current tax year (and not claimed in the prior tax year). Generally, all eligible medial expenses can be claimed, even if they were incurred outside of Canada. When medical expenses are reimbursed by an insurance plan, only the portion not reimbursed can be claimed.

Only expenses in excess of the lessor of $2237 (for 2016) of 3% of net income can be claimed. The lowest tax rate is applied to the medical expenses to determine the amount of the tax credit.

First time home buyers tax credit: +

You can claim an amount of $5000 for the purchase of a qualifying home purchase made in 2011 or later, if both of the following apply:

  • You or your spouse or common-law partner aquired a qualifying home.

  • You did not live in another home owned by you or your spouse or common-law partner in the year of acquisiton or in any of the four preceding years.

Documentation needed:

  • Copy of the purchase agreement
  • Copy of lawyers statement of adjustments
  • Please forward these documents to Whistler Tax Solutions

Tool Allowance for Tradespeople +

If you were an employed tradesperson in 2012 or later (including an eligible apprentice mechanic), you may be able to deduct up to $500 of the cost of eligible tools bought to earn your employment income.

Learn more: http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/rtrn/cmpltng/ddctns/lns206-236/229/trds/menu-eng.html