blog.jpg

Blog

TD1 - New Northern Residency Amount

Posted June 22, 2016
Written by Barb Kardash

As a result of the 2016 Federal Budget, the Northern Residency Deduction amount has increased to $11/day for each day you live in a prescribed northern zone or $22/day if only one person in your household is claiming this deduction.

You can fill out a TD1 form available here: 

http://www.cra-arc.gc.ca/E/pbg/tf/td1/README.html

Provide it to your employer, and reduce the amount of income tax deducted from each pay cheque, or wait until the end of the year and claim it all on your tax return.  Either way, those of us living in a prescribed zone will pay lower taxes this year!

For more information go to: http://www.cra-arc.gc.ca/northernresidents/

 

Supported Software