Canadian seniors can claim a number of additional tax benefits that are not available to other taxpayers, which help them reduce their tax payable. Along with the common tax credits that all taxpayers can claim (medical expenses, disability amount, basic personal amount, etc.), the following federal credits and deductions are available to eligible seniors:
- Age amount: You can claim this amount if you are 65 years or older on December 31, 2015 and if your net income is less than $82,353. The amount you can claim depends on your net income. You may be able to transfer all or part of your age amount to your spouse or common-law partner or claim all or part of your partner’s age amount. Click this link for more information on claiming the age amount.
- Pension income amount: You may be eligible to claim up to $2,000 if you reported eligible pension, superannuation, or annuity payments on your return. If you have a spouse or common-law partner, you can also split your pension income with your partner to reduce your tax payable. Click this link for more information on claiming the pension income amount.
Note: For both of the above amounts, you may also be able to claim a corresponding provincial or territorial non-refundable tax credit.
Other provincial tax credits for seniors
Some provinces have the following additional tax credits for seniors.
- Home Renovation Tax Credit: This tax credit helps seniors with renovations or changes made to their principal residence that improve accessibility or help seniors be more functional or mobile in their home. Ontario, British Columbia, and New Brunswick each have a home renovation tax credit that is available to seniors. Click the links below for more information on the home renovation tax credit for each province:
- Ontario Healthy Homes Renovation Tax Credit
- British Columbia Seniors’ Home Renovation Tax Credit
- New Brunswick Seniors’ Home Renovation Tax Credit
- Property Tax Grant or Rebate: Certain provinces provide a tax grant or rebate on property taxes you or your spouse or common-law partner paid or that someone paid on your behalf for your property in the year. Click the links below for more information on the property tax grant for each province:
Québec tax credits for seniors
Eligible seniors who are residents of Québec at the end of year can claim the following tax credits on their Québec return.
- Age amount: You can claim the age amount if you are 65 years of age or older at the end of the year.
- Amount for Retirement Income: You can claim this amount if you entered payments from a pension plan, an RRSP, a RRIF, a DPSP or a PRPP/VRSP, or annuities on your return. Note that you can also claim this amount if your spouse or common-law partner transfers all or part of their retirement income to you.
- Tax Credits for Workers 65 or Older: If you have income from employment, self-employment, research grants, or from a work-incentive project, you may be eligible to claim this tax credit.
- Independent Living Tax for Seniors: You can claim this tax credit if you were 70 years or older at the end of the year and paid for expenses for either or both of the following:
- Purchase, lease, and installation of equipment or fixtures that allow you to live independently in your home;
- A stay in a functional rehabilitation transition unit.
- Tax Credit for Home-Support Services for Seniors: If you are 70 years or older, you may be able to claim a refundable tax credit for expenses related to home-support services.