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adri0
New Member

Why is the 15000$ tax expemtion not applying to someone who makes less than that amount

makes only 10000$ a year, yet this is doubling the amount owing on joint filing, no investment income for that person
3 Replies

Why is the 15000$ tax expemtion not applying to someone who makes less than that amount

Could you clarify which exemption you are speaking of?

 

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adri0
New Member

Why is the 15000$ tax expemtion not applying to someone who makes less than that amount

Sure,  I was referring to the first 14k or 15 k that is the basic personal amount one can claim before having to pay taxes. Is it possible that my husbands 10000 is added to my higher income and that is putting us in a higher tax bracket?. His 10k has doubled the amount of tax we are currently  owing

Why is the 15000$ tax expemtion not applying to someone who makes less than that amount

Your combined income may disallow certain credits allowed at a lower income bracket. Does your husband go to school where this would have disallowed the Canada Workers Benefit? Here is a helpful link from the Canada Revenue Agency (CRA): Indexation adjustment for personal income tax and benefit amounts. You might want to review our TurboTax article: 10 Tax Benefits for Low Income Canadians in 2023.

 

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