The following federal, provincial and territorial income tax credit amounts can be used in calculating employee source deductions in 2022.
|2022 Federal Tax Credits|
|Basic Personal Amount1,3||$14,398.00|
|Spouse or Common-law Partner Amount||Variable4|
|Canada Caregiver Amount for Infirm Children Under 18||$2,350.00
|Canada Caregiver Amount for Dependant(s) Age 18 or older||$7,525.00|
|Eligible Pension Income Amount||$2,000.00|
|Age 65 Amount||$7,898.00|
|2022 Provincial Tax Credits|
|Newfoundland & Labrador||$9,803.00|
|Prince Edward Island||$11,250.00|
- The Basic Personal Amount for Federal, Nova Scotia and Yukon is unique to each employee’s annual income from all sources. See TD1 Worksheets for more information.
- An additional Basic Personal Amount of $3,000 can be claimed by employees with an annual income of $25,000 or less. A partial credit can be claimed by employees with an annual income between $25,000 and $75,000. See form TD1NS and TD1NS-WS worksheet for details.
- Every resident of Canada can enter a basic personal amount of $14,398. However, if your net income from all sources will be greater than $155,625 and you enter $14,398, you may have an amount owing on your income tax and benefit return at the end of the tax year. If your income from all sources will be greater than $155,625, you have the option to calculate a partial claim. To do so, fill in the appropriate section of Form TD1-WS, Worksheet for the 2022 Personal Tax Credits Return.
- See Line 7 of the 2022 TD1 – Personal Tax Credits Return form.