Sometimes the government actually announces a tax break that makes sense.  Here’s one, for example:

In 2007 the Nova Scotia government announced a $250 tax credit for volunteer firefighters, which could be claimed on their income tax return.  This went up to $375 for 2008, and is now $500 for 2009.

Also, for 2008 and future years the credit has been expanded to include ground search and rescue workers.

This tax credit is refundable, meaning that even if you don’t owe taxes, you can still claim the full tax credit.  Read more about this at

http://www.gov.ns.ca/finance/en/home/taxation/personalincometax/volunteerfirefighterstaxcredit.aspx

We all appreciate the hard work and dedication from our volunteer firefighters, and search and rescue workers.  We all say it, and  I’m pleased that our provincial government has “put our tax money where our mouth is.”

Filed under: Personal Tax by David Boese 1 Comment »




First Time Home Buyers


February 1st, 2010

These days, it’s all about owning a home.  It seems like the government won’t be happy until we’re all owning our own home and pumping big bucks into fixing it up.  Among the plethora of tax credit for homeowners, it seems like the First-Time Home Buyers’ Tax Credit has received very little recognition.

If you are a first time home buyer you can claim a tax credit of up to $750 for the purchase of a home.  You can also claim this credit if you are a disabled person buying a home, even if you are not a first time home buyer, or if you are buying a home for a disabled person.

You can read more about this at http://www.cra-arc.gc.ca/gncy/bdgt/2009/fqhbtc-eng.html#q8

Filed under: Personal Tax by David Boese No Comments »