As a resident of Nunavut, you have access to several non-refundable tax credits designed to help reduce your provincial tax burden. These credits, which include amounts for basic personal expenses, age, dependants, disabilities, and more, are critical for ensuring that you only pay what is fair based on your personal and financial circumstances. Understanding each credit, who qualifies for it, how to claim it, and which forms are required can significantly impact your tax return. Below, we provide a detailed overview of the various non-refundable tax credits available to Nunavut residents for the 2024 tax year, helping you navigate the nuances of provincial tax credits effectively.
1. Basic Personal Amount
The Basic Personal Amount is a non-refundable tax credit that allows all residents of Nunavut to reduce their taxable income by a fixed amount, which for 2024 is $16,436. To claim this credit, you don’t need to fill out a specific form; it’s automatically applied when you file your tax return. Every taxpayer in Nunavut qualifies for this amount.
2. Age Amount
The Age Amount is available to residents of Nunavut who are 65 years of age or older at the end of the tax year. For 2024, the amount is $11,106. To claim this credit, report your age amount on line 301 of your tax return. You automatically qualify if you meet the age requirement, and no additional form is needed.
3. Spouse or Common-Law Partner Amount
If you support a spouse or common-law partner with a lower income, you can claim the Spouse or Common-Law Partner Amount of $16,436, reduced by their net income. This is claimed on line 30300 of your tax return. Eligibility requires that you were married or living in a common-law relationship during the year, and their income was below the specified amount. No separate form is needed beyond the tax return.
4. Amount for an Eligible Dependant
This credit allows you to claim $16,436, reduced by the net income of a dependent for whom you support. It’s claimed on line 30500 of your tax return. You qualify if you supported a dependant who lived with you and their income was below the specified threshold. No additional form is necessary.
5. Amount for Infirm Dependants Age 18 or Older
The credit for infirm dependants is $6,883, reduced by their net income over $6,608. Claim this on line 30700 of your tax return. To qualify, you must support an adult dependant who is infirm. No separate form is required, but you may need to provide documentation proving the infirmity.
6. Disability Amount
The Disability Amount provides a tax credit of $14,570 for individuals with a severe and prolonged impairment. To claim this, you must complete Form T2201, Disability Tax Credit Certificate, and submit it to the CRA. You qualify if you or your dependant has a certified disability.
7. Disability Supplement for Persons under 18
An additional $4,715 is available for disabled individuals under 18, reduced by childcare or attendant care expenses over $3,150. This is also claimed on line 31600 of your tax return, alongside the standard disability amount. The same Form T2201 is required.
8. Caregiver Amount
The Caregiver Amount of $6,883, reduced by the dependant’s net income over $16,436, is for those providing care to a family member. Claim this on line 31500 of your tax return. You qualify if you live with and support a dependent relative. No extra form is required, but you may need documentation for the dependent’s condition.
9. Pension Income Amount
The Pension Income Amount allows you to claim $1,311 if you receive eligible pension income. Report this on line 31400 of your tax return. To qualify, you must receive income from a registered pension plan or similar source. No additional form is necessary.
10. Tuition, Education, and Textbook Amounts
You can claim the tuition, education, and textbook amounts for eligible post-secondary education expenses. Complete Schedule 11 to claim this on your tax return. You qualify if you paid tuition fees to a recognized educational institution. Keep all receipts, but no separate form is required for Nunavut.
11. Medical Expenses
Medical expenses that exceed the lesser of 3% of your net income or $2,421 can be claimed. Report these on line 33099 of your tax return. You qualify if you, your spouse, or your dependants incurred eligible medical expenses. No specific form is required, but keep all receipts and documents.
12. Charitable Donations
Charitable donations are eligible for a tax credit based on the total amount donated. Claim these on Schedule 9 of your tax return. You qualify if you made donations to registered charities. Keep all donation receipts, but no separate form is needed.
For the most accurate and detailed information, always refer to the latest guidelines from the Canada Revenue Agency (CRA) and the Government of Nunavut.
