You might think that because you receive social assistance or are a low-income earner there is no need to file your income tax return. But if you don’t file a return, you might be missing out on additional income that could improve your financial status.
Get Your Piece of the Money Pie
- A single person could receive up to $1,436*
- Parents could receive thousands of dollars annually in child tax benefits.
- Parents with school aged children could receive a School Supplement benefit of $100 per child.
- Persons with a disability could be eligible for a tax credit of $1,876
- Your child could qualify for the Healthy Smiles, Clear Vision plan, New Brunswick’s dental and vision program for children of low-income families.
- Your child could qualify for the Canada Learning Bond, a federal program that offers up to $2000 for education after high school for children of low-income families.
*Based on the assumption that there is some working income.
If you need help preparing your income tax and benefit return, the Community Volunteer Income Tax Program (CVITP) may be able to assist you. This free program is available to eligible taxpayers who have modest income and simple tax situations. For more information on this service, visit www.cra.gc.ca/volunteer or call 1-800-959-8281
In addition, the Government of New Brunswick recently announced the provincial Harmonized Sales Tax (HST) credit HST credit. The full credit will be provided to New Brunswickers with a family income of less than $35,000 per year. The credit will be reduced by two cents for every dollar of income above $35,000. This will mean that individuals with incomes of less than $50,000, or a family of two adults and two children with incomes of less than $75,000, could receive some benefit from the HST credit. The only way to receive the credit is to file your income tax return.
Provincial and federal tax credits and benefits available include:
- New Brunswick Child Tax Benefit
- New Brunswick Working Income Supplement (included in CCTB)
- New Brunswick School Supplement Program (included in CCTB)
- National Child Benefit Supplement
- Universal Child Care Benefit
- Canada Child Tax Benefit
- Child Disability Benefit
- Working Income Tax Benefit
- GST/HST Credit
- Disability tax credit