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.
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