This is a hugely popular tax credit (and we haven’t even had a chance to claim it yet!)  Starting with 2011, Volunteer Firefighters may be eligible to claim a new non-refundable tax credit. The tax credit is for $3,000, so based on our current federal tax rate of 15%, that translates into actual tax savings of $450.

And don’t forget, if you live in Nova Scotia you can also claim the $500 refundable Nova Scotia Firefighters Tax Credit. Combined together, this results in total annual tax savings of $950!

Filed under: Personal Tax by David Boese No Comments »