Tax Talk: Do you qualify for the Working Income Tax Benefit?
(NC)— The tax experts at HR Block answer one of the most frequently asked questions at this time of the year:
Q. My son lives in Ontario and thinks he may qualify for the Working Income Tax Benefit. How is it calculated?
A. The WITB is designed to help people re-enter the workforce. To qualify, your son must have earned income in the last year. For single taxpayers with no children, the credit is equal to 20 percent of earned income—in excess of $3,000—up to a maximum of $970. If your son earns more than $17,148, he would not qualify.
For more information visit www.hrblock.ca.
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