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The age amount has increased
Did you know…

That as of January 1, 2006, the age amount maximum increased from $4,066 to $5,066? If you were 65 or older on December 31, 2006, and your net income was less than $64,043, you can claim the age amount. You may also be able to transfer unused portions of the age amount to your spouse or common-law partner.

For more information, visit our Web site at www.cra.gc.ca.

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Take it to the limit with your RRSPs!
Did you know…

That March 1, 2007, is the deadline for making a contribution to a registered retirement savings plan (RRSP) for the 2006 tax year? With RRSPs, you can start saving now for your retirement, education, or the purchase of a home. To view your RRSP deduction limit and other personal income and benefit information, why not log in to My Account at www.cra.gc.ca/myaccount.

To find out more on RRSPs, visit www.cra.gc.ca/rrsp.

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Claiming medical expenses
Did you know…

That you can claim, as a non-refundable tax credit, medical expenses for yourself, your spouse or common-law partner, and your children born in 1989 or later? For 2006, the total expenses have to be more than 3% of your net income, or $1,884, whichever is less. You may also be able to claim medical expenses for the following persons if they depend on you for support:

you or your spouse or common-law partner's child or grandchild who was born in 1988 or earlier; and
you or your spouse or common-law partner's parent or certain close relatives who lived in Canada at any time in the year.
For more information on medical expenses, visit www.cra.gc.ca/tax/individuals/menu-e.html and select “M” from the drop-down menu for “medical expenses.”