Filing season for taxes is now open for Canada. All are being reminded by the Canada Revenue Agency (CRA) to submit tax returns. This year’s filing of taxes will start on February 24, 2025, and the CRA has several tax credits, benefits, and deductions that help reduce the amount of individuals’ tax. One of them is a new credit that has been introduced for the 2024 tax year – **$8,790 Age Amount Canada Tax Credit February 2025 This is only for seniors who are 65 years and older and is one of the highest tax credits that can be claimed by seniors. Sometimes the elderly feel other benefits are not sufficient for them, and hence CRA offers several tax credits and allowances to assist them.
This is why the Age Amount Credit of $8,790 is being utilized for this reason. The CRA computes this credit annually during filing season, and this year it is for all senior Canadians who will become 65 or older by December 31, 2024. This tax credit can lower their taxable income, which can lower their overall cost.
$8,790 Age Amount Canada Tax Credit February 2025
| Post Title | $250 Canada GST Relief Payment February 2025 |
| Year | 2025 |
| Country Name | Canada |
| Month | February |
| Issuing Agency | CRA |
| Program Name | GST Credit Payment |
| CRA Goods & Services Tax Credit Eligibility 2025 | Qualified nineteen years aged taxpayers |
| Purpose | Financial Support |
| Time Period | July 2024 – June 2025 |
| Payment Frequency | Quarterly |
| Canada GST Tax Credit Deposit Dates 2025 | See this Guide |
| Payment Months | July, October, January, April |
| Category of the Post | Finance |
| Official Web Portal | www.canada.ca |
Eligibility and Income Requirements:
It is going to be provided to the seniors whose net incomes fall into specific bands only. If a senior has less than a $44,325 net income, then he or she is entitled to receive a full credit amount of $8,790. But if his or her income is between $44,325 and $102,925, then the amount of credit is going to decrease with income. In this case, the calculation is being conducted as follows:
For the 2023 Tax Year (Payments From July 2024$250 Canada GST Relief Payment February 2025 – Check Eligibility & Deposit DateTill June 2025):
| GST/HST Refund Date 2025 | Month, Year |
| 3rd | January, 2025 |
| 4th | April, 2025 |
For the 2024 Base Year (Payments From July 2025 Till June 2026):
| GST/HST Refund Dates 2025 | Month, Year |
| 4th | July, 2025 |
| 3rd | October, 2025 |
These credits are directly deposited into eligible recipients bank accounts or sent via mail.
Ensure, if a senior’s net earnings are more than $1,02,925, then in this case 0 should be filled in Line 30100 and he will not be entitled to this credit.
How to Claim Credit:
When you become qualified, you will be required to report the correct information on Line 30100 when you submit your tax return. This is highly important because it is through this process alone that you qualify for the whole amount of age credit of $8,790. After filing, this credit will cut your tax payment.
Fact Check and Reliability:
This $8,790 Amount for Age tax credit is highly trustworthy. This credit is for elderly people above the age of 65 years, and it will be subtracted from their income to be taxed. This credit will be in operation for the year 2024. For precise information, you can even look at the website of the official CRA or the website of Service Canada. For more clarification, you can even consult taxation and finance experts.
FAQ – $8,790 Age Amount Canada Tax Credit February 2025:
Q.Is this $8,790 Age Amount Tax Credit 2025 trustworthy?
A.Yes, the credit is definitely reliable and accurate.
Q. What is Age Amount Tax Credit?
A.This is a tax credit for seniors who don’t think other benefits offered by CRA are as good. Its primary purpose is to reduce their tax bill so that their financial burden can be reduced.
Q.Who is qualified to receive this credit?
A.Seniors who are 65 years and above as of 31 December, 2024 may choose this credit.
Q.What would seniors have to do in order to be qualified for this credit?
A. if your net income is less than $44,325, you will get a full credit of $8,790. If your net income is between $44,325 and $1,02,925, then you will get a pro-rata credit on the basis of your income.