In Canada, the filing season is coming and the CRA encourages the residents to file their return. Filing of the returns in Canada will start from 24th February, 2025 and the CRA provides various tax credits, benefits and deductions for the Canadians. One of the tax credits that the CRA will issue for 2024 tax year is $8,790 Age Amount Canada Tax Credit February 2025. This tax credit of $8790 can be only provided by the CRA to the aged citizens in Canada. The seniors with ages of 65 years or over can get this Age Amount. This $8790 is the maximum tax credit for seniors only.
$8,790 Age Amount Canada Tax Credit February 2025
Sometimes the seniors in Canada do not qualify for the benefits and for that reason the CRA also offers the tax credits and deductions. This $8,790 Age Amount Canada Tax Credit February 2025 is the type of the tax credit that will be available for the 2024 tax year. Each year, the CRA offers this age amount for the seniors and this filing season $8790 is set by CRA. This credit is available to the aged Canadians who are on 31st December, 2024 are of age 65 years or even more. This credit will lower the taxes of the seniors residents and due to this credit the financial burden of the seniors might be lowered.
Canada Age Amount Tax Credit 2025- Overview
| Post Title | $8,790 Age Amount Canada Tax Credit February 2025 |
| Year | 2025 |
| Country Name | Canada |
| Issuing Agency | CRA |
| Month | February |
| CRA Age Amount Tax Credit Eligibility 2025 | Those Canadians who have 65 years age or older |
| Purpose | Financial Assistance |
| How To Claim Age Amount Of $8790? | File Tax Return and Complete Line 30100 |
| Post Category | Finance |
| Official Web Page | www.canada.ca |
CRA Age Amount Tax Credit Eligibility 2025
- Only the Canadian seniors can get this.
- Those who on 31st December, 2024 are of age 65 years or even older can get this.
- The net income of that senior must be under $1,02,925. The net income on the Line 23600 must include the net income under $1,02,925.
- If the senior income is under $44,325 then the senior can claim for full $8790. But if that senior has income over $44,325 and under $1,02,925 then the following calculation will be there for the calculation of the credit:
| Maximum Amount | – | $8790 |
| Amount from Line 23600 | A | – |
| Income Threshold | $44325 | – |
| Minus Amount from Line 23600 and Income Threshold | B | – |
| Applicable Rate | 15% | – |
| Multiply B with 15% | C | – |
| Minus Maximum Amount of $8790 from C | – | D (Tax Credit Amount) |
- If the resident has income over $1,02,925 then the resident must enter 0 on Line 30100.
How To Claim Age Amount Of $8790?
The residents must complete Line 30100 on their return. It means that to get the tax credit of $8790, the residents must file the return and must complete the Line 30100.
Fact Check: $8790 Age Amount 2025
This $8790 Age Amount is reliable. This $8790 is the tax credit that the residents can claim on their return. For this age amount the residents must be seniors who are of age 65 or more than this. This tax credit can reduce the seniors taxable income. The $8790 Age Amount is the 2024 tax year credit. For the more updates on this $8790 Age Amount, the residents can see official CRA portal or Service Canada Age. To get personalised knowledge, the seniors can also contact the tax agents or financial advisors. On line 30100 the residents can claim for this $8790. This $8790 is the maximum age amount and over this amount no tax credit will be there.
FAQ Related To $8,790 Age Amount Canada Tax Credit February 2025
Yes, this $8790 Age Amount Tax credit 2025 is reliable.
Sometimes the seniors do not get the benefits from the CRA and those seniors might face the financial burden. For this the age amount credit is offered by the Canadian Government. This credit will reduce the seniors tax liability.
Those seniors who on 31st December, 2024 are of age 65 years or more can get this.
The seniors need to file the return and complete the Line 30100 for this $8790 Tax Credit.
The seniors who have net income under $44,325 will get full $8790 but the seniors who have net income over $44,325 and under $1,02,925 then the partial credit payment will be made.
