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When preparing your 2024 tax return in New Brunswick, Canada, there are several tax benefits and credits that you may be eligible to claim. Here are some common tax benefits to consider taking advantage of in New Brunswick:
The New Brunswick Child Tax Benefit provides financial assistance to help eligible families with the costs of raising children. Make sure to claim this benefit if you have dependent children.
The Tax Reduction Credit in New Brunswick offers tax relief to individuals with low income. Ensure you claim this credit if you meet the eligibility criteria.
The Climate Change Trust Fund in New Brunswick supports efforts to address climate change and reduce greenhouse gas emissions. Contributions to this fund may qualify for tax benefits.
The NB Healthy Smiles, Clear Vision program provides assistance to eligible children and youth for dental and vision care. Ensure you take advantage of this program if you qualify.
The Healthy Homes Renovations Tax Credit provides a refundable tax credit for home renovations that improve accessibility for seniors or individuals with disabilities. Keep receipts and claim this credit if you made eligible expenses.
If you made charitable donations in 2024, ensure you claim the Charitable Donation Tax Credit on your tax return. Save your donation receipts to support your claim.
The Tuition Tax Credit in New Brunswick allows students to claim eligible tuition fees paid for post-secondary education. Make sure to claim this credit if you were a student in 2024.
These are some of the tax benefits and credits available to New Brunswick residents for the 2024 tax year. Review the eligibility criteria for each benefit and take advantage of all the tax-saving opportunities when filing your tax return.
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