Climate Action Incentive Credit (NB, MB, SK, ON only)
The
new refundable credit has no income cap but does have varying amounts by
location. If you have a spouse, only one spouse makes the claim for the family
(spouse and minor children). Software does it all for you – just enter a few
details on your address and family.
Please
note: this credit is automatically applied to your tax return, based on the
initial entries at the beginning of your tax return, even before you enter your
income and expenses. This is a Federal Tax Credit that is reflective of the
province you live in.
You
will be able to claim the Climate Action Incentive under the Provincial tab.
- Under Provincial
Tax Credit, if
you qualify it will be there for you to CHECK the Climate Action
Incentive Credit box and proceed to answer all the necessary
question.
- If you have entered
information, you have to go backward and retake your steps to ensure all
entries have been made but only if you qualify based on
your eligibility.
Once
that section has been completed, then the amount will calculate on line 449 of
your Detailed Tax Summary Page, which is located in the Review Section of your
Return after you open Bottom Line Tax summary.
Please
refer to the link below from TurboTax Tips to have a better understanding of
this new credit and how it is calculated.
Climate
Change Plan, Climate Action Incentive, Fuel Charges. How This Impacts Your
Taxes. - https://bit.ly/2BJVS0L
