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Age Amount Tax Credit

The age amount tax credit is a non-refundable credit, and is reduced when income exceeds a certain threshold, both federally and provincially. Capital gains can cause income to exceed the threshold, and offsetting capital losses carried forward won’t help with this. Click below…

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2018 Sales Tax Rates

So far there are no changes from the 2017 sales tax rates, except for the reduction of the rate applied to taxable purchases of electricity in BC, from 7% to 3.5%. There is no PST in BC on residential purchases of electricity. Click…