Tax Deadline: Maximize Your Savings

0:00It's April 7th. Welcome in. This is Vancouver News today, where local news meets AI. I'm Corey with the story. Tax deadline hits April 30th folks, and this year the feds dropped the lowest marginal rate from 15% to 14.5% on the first 57,375 of taxable income that shakes out to about 300 bucks safe for low and middle earners. Some provinces like Alberta slash theirs even more, down to 8%, stacking up bigger breaks overall. But heads up, those lower rates mean some credits are worth a bit less now, though experts say it's still in that's most people ahead. Dig out every charitable donation receipt too, since claiming them cuts your taxes directly, and you can carry over extras for up to 5 years, or, a men later for refunds. Personal support workers got a new refundable credit at 5% of earnings, maxing at $1,100 to honor their work with, seniors and folks needing care, just not available in British

1:00Columbia, Newfoundland, and Labrador, or the Northwest Territories due to local wage deals. Parents expand that childcare claim beyond daycare, hit noon supervision, school fees, even summer camps. Plus, if your kid's in post-secondary, with low income, transfer their tuition credit to you for a bigger family win. File on time, even if you owe, dodging that 5% penalty, plus monthly interest hits. Grab refunds quick since the government pays no interest, and low income peeps can look forward to automatic filing next year to snag benefits like. GST credits without the hassle, stay sharp out there.