Why Should Low Income Earners File Their Taxes?
Filing your taxes might not be a high priority for low income individuals, teenagers, and students. This may be because they question the belief that since they aren’t making sufficient or any income, there is no reason to file taxes. However, there are several government incentives and benefits that pay back.
One thing for sure is that, if you don’t file your taxes, you do not get the various government benefits which can mean money back in your pocket.
The benefits are the following:
- GST/HST & Provincial Tax Credit
The Canada Revenue Agency is providing billions of dollars to Canadian Resident who file their taxes. The federal government provides a maximum amount of $280 in GST credit while the provincial government provides a maximum amount of $291 in provincial tax credit also known as “trillium benefit” to Canadian residences, even if they did not earn any income.
- Child Tax Benefit
If you’re a parent who has a dependent(s), the Canada Revenue Agency will provide you an amount of $5400-$6400 annually per child, for those households who are medium to low income earners. Parents can also claim for their child’s “children arts and fitness amount.”(Photo credit: Financial Post)
- Public Transit Credit
If you take the transit such as the TTC, you can claim for the full amount for which you spent on transit passes, tickets or tokens. The Canadian government will only credit 15% of what you had spent on transit.
*Note: 2016 is the last tax year to claim for public transit credit as it will be removed in the upcoming tax years.
- Medical & Other Taxable Credits
You can claim your medical expenses for which you spent such as eye glasses prescription, dental checkup, prescription medicine, and etc. Some other taxable credits that you can claim are charitable donations, political contributions, tuition slips, interest claim and many more. Deducting these expenses, might potentially give yourself a refund or reduce your taxable owing.
This post was sent to us by www.sfttaxservices.ca 1656 Eglinton Ave. W.
The sun is shining as we head into the Easter long week-end. This long weekend is a favorite, it means soo many things, not the least the beginning of the warm weather which in Toronto means lots of neighborhood outings and exploration. It is also jam packed with symbolism. All of which applies impeccably to our neighbourhood
Passover started earlier this week. It is a commemoration of the story of Exodus. The overarching symbols are of freedom and migration.
This history of development at Eglinton and Oakwwod / Dufferin includes a lot of migration. The migration happened in waves, the turn of the century Irish, Post WWII Italians and Portuguese, post 1980s economic downturn drawing migrants form the Caribbean and, and it continues with newer communities from the Philippines and Latin America and eastern Europe. The reasons people leave their home countries vary considerably, but a common theme is the pursuit of freedom, economic, political religious etcetera, the freedom to be and express. Welcome to Toronto.
Tomorrow, the Easter holidays begin with Good Friday. The rich symbolism here is in the story of Resurrection, which combined with Spring is a strong symbol for renewal and re-making. Not only have countless families remade their lives here, but our neighbourhood itself has been re-made and renewed many times over. What began as farmland with the rich soil and moist natural ecosystem was easily transformed into a working class hub of housing and bustling businesses once the the Toronto Transit Commission took the Oakwood Streetcar north. And we are still transforming. Surely our hard times, as businesses struggle to stay open during Metrolinx Construction, will come to pass once the LRT is running (as long as Bombardier keeps up its end.) The future is beautiful.
Day of Pink
Yesterday, we celebrated the Day of Pink with a genuine spark, as our neighborhood, otherwise known as the International Market, is a true embodiment of the spirit of multiculturalism and diversity. A quick glimpse at our neighbourhood by language, alluded to above, paints a wonderful picture. True to its description there are many flavours to be discovered here. A walk along our main street will lead you to discover traditional Jamaican dishes cooked with pure ingredients and flavorful spices, Ugandan groceries, Budapest and Uzbek cuisine, Chinese food, Filipino take-aways, French cooking classes and . . . a community of people . . . to whom the York Eglinton BIA wishes a fresh and fabulous holiday break this weekend.
“More than 70,000 people living in Toronto list Spanish as their Mother Tongue.” (Inside Toronto)
Latino is a general term used to refer to people born in Latin America or someone that speaks Spanish as their mother term. According to the 2011 census, Spanish is in fourth place among non-official languages spoken in the city after Italian, Chinese and Mandarin (Inside Toronto).
In 2001, it was reported that 62% of Canadians who identify themselves as having Latin
American origins and live in Toronto were born outside Canada (Stadistics Canada). With this as fact, it comes to no surprise that there are many “Latinos” who feel nostalgic about their national dishes, national products and celebrations. From time to time you may find yourself wondering where can I find “Latinotown” like we can find Greektown at Danforth on the South East of the city or Chinatown in the downtown core.
The answer is you can’t. Interesting enough, according to HeritageToronto, although there are shared linguistic and cultural characteristics, the “Latino community is not a monolithic community, but rather one with multiple identities and experiences shaped by each country’s history and the causes of migration” (Heritage Toronto). The community’s common denominators are the Spanish language, and their determination to build a home in the new place they have come to. Therefore, you won’t find one specific neighbourhood for latinos. You will find them all around Toronto. In fact, Spanish is the most popular mother tongue after English in 14 of Toronto’s 140 neighbourhoods (InsideToronto).
According to Claudio Ruiz, executive director of the Centre for Spanish-Speaking Peoples, Latinos in greater Toronto are from 21 different countries(Toronto Star). This means that to find a “Latin Restaurant” you will have to make up your mind and look for the specific country dishes that you would like to try. Remember, Latin countries may use similar ingredients but dishes vary from country to country.
If you are looking for products and services in Spanish, there are several “community hubs”around the city that offer a variety of services tailored for latinos. In our neighbourhood, we are grateful for TorontoLatino. This hybrid business has been around since 1985 and offers groceries from different countries, dine in and take out from Colombia and Ecuador, money transfer services, music, CD’s, Soap operas and movies DVD’s, and more It even has it own radio station! (TorontoLatino.com). They are proudly located at 1786 Eglinton West.
Community hubs like this ones are not only good for latinos to get services in their language but also good for anyone interested in learning more about the different countries, food and culture.
If you decided to visit TorontoLatino be sure to check out neighbouring businesses. Have a treat at Spalistic with their spa services, get the latest hair styles at Hair to Desire, sign up for free Zumba Classes at Figura Ideal and because it’s tax season you may want to pass by Maria Cruzado Accounting Services to have your taxes done, everything on one trip!
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“The Latin American Community in Canada.” Statistics Canada. Canada.gc.ca, n.d. Web. 22 Mar. 2017. <http://www.statcan.gc.ca/pub/89-621-x/89-621-x2007008-eng.htm>.
InsideToronto.com. “Spanish in Toronto: 10 neighbourhoods where you’re likely to hear it.” InsideToronto.com. Metrolandmedia, 07 July 2015. Web. 22 Mar. 2017. <http://www.insidetoronto.com/news-story/5684384-spanish-in-toronto-10-neighbourhoods-where-you-re-likely-to-hear-it/>.
Taylor, Lesley Ciarula. “The GTA’s growing Latino problem.” Thestar.com. N.p., 06 Dec. 2008. Web. 22 Mar. 2017. <https://www.thestar.com/news/2008/12/06/the_gtas_growing_latino_problem.html>.
“Latin American Canadians.” Wikipedia. Wikimedia Foundation, 01 Feb. 2017. Web. 22 Mar. 2017. <https://en.wikipedia.org/wiki/Latin_American_Canadians#History>.
“Here and There: Hispanic Heritage in Toronto.” Heritage Toronto. N.p., n.d. Web. 22 Mar. 2017. <http://heritagetoronto.org/here-and-there-hispanic-heritage-in-toronto/>.
“Latin Food Photography.” Latin American Cooking – Enlightenment Unveiled: Expound into Empowerment. N.p., n.d. Web. 22 Mar. 2017. <http://dnme.cf/vepot/latin-american-cooking-711.php>.
“Toronto Latino.” Toronto Latino. N.p., n.d. Web. 22 Mar. 2017. <http://www.torontolatino.com/toronto/>.