Dollar amounts on which individual non-refundable federal tax credits for 2021 are based, and the actual tax credit claimable, will be as follows:
Credit amount Tax credit
Basic personal amount* 13,808 2,071.20
Spouse or common law
partner amount* 13,808 2,071.20
Eligible dependant amount* 13,808 2,071.20
Age amount 7,713 1,156.95
Net income threshold for erosion of
age credit 38,893
Canada employment amount 1,257 188.55
Disability amount 8,662 1,299.30
Adoption expenses credit 16,729 2,509.35
Medical expense tax credit
Income threshold amount 2,421
*For taxpayers having net income for the year of more than $151,978, amounts claimable for the basic personal amount, the spousal amount, and the eligible dependant amount for 2021 may differ.
The information presented is only of a general nature, may omit many details and special rules, is current only as of its published date, and accordingly cannot be regarded as legal or tax advice. Please contact our office for more information on this subject and how it pertains to your specific tax or financial situation.
