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Be Prepared for the 2010 Tax Season


Yes it is time to get organized for 2010 tax season to ensure that nothing is overlooked! Clients for whom we filed a 2009 tax return, will receive an envelope with this newsletter. This envelope lists critical information and slips to watch for and is meant to assist you in gathering the information we will need for your 2010 return!

Some things to be aware of for this year:

  • Children's Fitness Tax Credit - Parents with children under 16 years of age at start of 2010 who are enrolled in sports or activities requiring physical exercise could qualify for this credit. Ensure that you bring the receipts with your tax information. Receipts should include birth date of child, total amount of program and amount eligible for fitness tax credit, and name of program.
  • Active Families Benefit - A parent or legal guardian of a child six to fourteen years old is eligible to receive an annual tax benefit of up to $150 per child per taxation year. This fully-refundable tax benefit helps encourage children to participate in activities that are vital to healthy, active living. To qualify, children must be in an allowable cultural, recreational, or sports program that offered by a Saskatchewan service provider. This credit can be claimed in addition to the Children's fitness credit, and includes programs which are not covered by the fitness credit, such as music lessons and 4H.
  • Medical expenses for cosmetic purposes such as hair replacement and teeth whitening are no longer accepted as allowable medical expenses.
  • Medical Travel in excess of 40 kms can be claimed as a tax credit, however to do so you must have evidence of the trip such as signed appointment cards or a referral letter. Please include this documentation with your 2010 tax information that you forward to our office.
  • Caregiver Credit - Anyone providing care in their home for a relative dependent upon them should advise us of the situation as you may qualify for this credit.
  • Disability Tax Credit - Anyone with a severe or prolonged impairment in physical or mental functions should check to see if you qualify for the disability tax credit.
  • Tuition and education credits available to children taking post secondary education can be transferred to a parent if the child does not have sufficient income to use the credit. The child has to sign the tuition slip authorizing its use by a specified parent. Alternatively the student may carry forward the unused portion of their credit to apply to future years.
  • Prescription drug printouts can be obtained from your Pharmacy listing all the drugs purchased in the year and the cost of each prescription. Obtaining this list is extremely helpful and timesaving in preparing a tax return involving a lot of medical prescriptions. Some pharmacies have a charge for this service.