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Tax Tips: |
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Beginning in 2007, the Transit Pass Tax Credit is extended to weekly passes purchased in four consecutive weeks. You will also be able to claim the cost of an electronic payment card where the cost relates to the use of public transit for at least 32 one-way trips during an uninterrupted period not exceeding 31 days.
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The 2007 Federal Budget introduced new age limits on Registered Retirement Savings Plans (RRSPs). Now you can contribute to your RRSP up until the end of the year in which you turn 71 - as long as you have contribution room.
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