Please note that the information on this page is subject to change. u-ONE Wealth Management Accounting Services is not responsible for any errors or omissions. This content is based on our research and interpretation and is intended for informational purposes only to assist with filing your 2024 taxes. In the event of any discrepancies or disputes, the Canada Revenue Agency (CRA) will serve as the final authority.

 

Please consult the official websites of the Government of Canada, the Canada Revenue Agency, and the Province of Manitoba, or contact them directly for the most current and personalized tax information.

1. Tax Filing Deadlines:

• Personal Tax Returns: The deadline to file your 2024 personal tax return is April 30, 2025.

• Self-Employed Individuals: If you or your spouse/common-law partner are self-employed, the filing deadline extends to June 15, 2025. However, any balance owing must still be paid by April 30, 2025.
   

2. RRSP Contribution Deadline:

• Contributions to your Registered Retirement Savings Plan (RRSP) for the 2024 tax year must be made by March 3, 2025.
   

3. Manitoba Fitness Amount:

• For the 2024 tax year, Manitoba offers a non-refundable Fitness Tax Credit.

  • Eligibility: Children under 16 and young adults aged 16 to 24.

  • Claim Amount: Up to $500 per individual; up to $1,000 if the individual has a disability.

  • Details: This credit applies to fees paid in 2024 for registration or membership in prescribed programs of physical activity.
     

4. Children's Arts and Cultural Activity Tax Credit:

• Manitoba provides a non-refundable Children’s Arts and Cultural Activity Tax Credit for the 2024 tax year.

  • Eligibility: Children under 16.

  • Claim Amount: Up to $500 per child; up to $1,000 if the child has a disability.

  • Details: This credit covers eligible non-fitness activities, including artistic, cultural, recreational, or developmental programs.
     

5. First-Time Home Buyers’ Tax Credit (HBTC):

• For the 2024 tax year, first-time home buyers who acquire a qualifying home can claim a non-refundable tax credit.

  • Credit Amount: $1,500 (calculated as $10,000 × 15%).

  • Eligibility Criteria:

    • You or your spouse/common-law partner acquired a qualifying home in 2024.

    • Neither of you owned and lived in another home in the year of acquisition or any of the four preceding years (unless you are a person with a disability).

  • Note: Only one spouse or common-law partner can claim this amount.
     

6. Eligible Educator School Supply Tax Credit:

• Eligible educators who purchase teaching supplies may receive a refundable credit of up to $250.
   

7. Tradesperson's Tools Deduction:

• For 2024, tradespeople can deduct the cost of eligible tools purchased to earn employment income, up to a maximum of $1,000.
   

8. Home Accessibility Tax Credit (HATC):

• This non-refundable tax credit supports home renovations or alterations.

  • Credit Amount: Up to $20,000 in eligible expenses.

  • Eligibility: Seniors (65 and older) and individuals with disabilities.

  • Purpose: Expenses must allow the qualifying individual to gain access to, be mobile or functional within, or reduce the risk of harm within the dwelling.
     

9. Labour Mobility Deduction (LMD):

• Available to tradespeople or apprentices, this deduction allows the claim of eligible temporary relocation expenses incurred in 2024.

  • Eligible Expenses: Transportation, meals, and temporary lodging costs for employment at a temporary work location in construction.

  • Deduction Limit: Up to $4,000 annually.
     

10. Medical Expense Tax Credit (METC) for Surrogacy and Other Expenses:

• Eligible medical expenses now include payments for services such as in-vitro fertilization (IVF), prescribed fertility drugs, ultrasounds, and fees paid to fertility clinics for donor sperm or ova.
   

11. Canada Training Credit:

• A refundable tax credit available for workers aged 25 to 64 who paid tuition fees in 2024.

  • Credit Accumulation: Eligible individuals accumulate $250 towards their Canada Training Credit limit each year, up to a lifetime maximum of $5,000.

  • 2024 Maximum Claim: Since the program started in 2020, the maximum amount available for 2024 is $1,250.
     

12. Canada Workers Benefit (CWB):

• A refundable tax credit designed to support low-income workers.
   

13. Medical Cannabis Expenses:

• Certain medical cannabis expenses are eligible for the Medical Expense Tax Credit in 2024, subject to specific conditions.
   

14. Registered Disability Savings Plan (RDSP):

• A savings plan intended to help parents and others save for the long-term financial security of a person eligible for the Disability Tax Credit.

  • Government Contributions:

    • Canada Disability Savings Grant: Matching grants of up to $3,500 annually, with a lifetime limit of $70,000.

    • Canada Disability Savings Bond: For low- and modest-income individuals, bonds of up to $1,000 annually, with a lifetime limit of $20,000, without requiring personal contributions.

  • Carry-Forward: You may receive more in a year if you were approved for the Disability Tax Credit for any or all of the past 10 years.
     

15. Canada Caregiver Credit (CCC):

• Eligibility: If you supported a dependent with a physical or mental impairment in 2024, such as your spouse, common-law partner, or a related adult or child, you may qualify for this non-refundable federal tax credit.

• Claimable Amounts: The credit amount varies based on the relationship to the dependent and their net income. For precise figures, refer to the CRA's guidelines.
   

16. Fertility Treatment Tax Credit (Manitoba):

• Eligibility: Residents of Manitoba at the end of 2024 who incurred eligible fertility treatment expenses may claim this refundable credit.

• Credit Details: The credit covers 40% of eligible expenses, up to a maximum annual credit of $16,000. Eligible expenses include payments to Manitoba fertility clinics or licensed physicians, as well as related prescription medications. Expenses reimbursed by insurance or other means are not eligible. Note that treatments or medications obtained outside Manitoba do not qualify.
   

17. Provincial Caregiver Amount (Manitoba):

• Eligibility: If, at any time in 2024, you maintained a dwelling where you and one or more dependents resided, you may be eligible for this non-refundable credit.

• Details: Specific claim amounts and eligibility criteria are outlined by the Manitoba government. Ensure you review the latest provincial guidelines when preparing your tax return.
   

18. Primary Caregiver Tax Credit (Manitoba):

• Eligibility: Caregivers who provided ongoing care for a minimum of 90 days in 2024 can claim this refundable provincial credit.

• Credit Amount: The maximum credit is $1,400 per care recipient, regardless of the number of individuals cared for. Registration forms must be submitted by the tax return filing deadline, and retroactive claims prior to registration are not permitted.
   

19. Seniors’ School Tax Rebate (Manitoba):

• Eligibility: Manitoba residents aged 65 or older who own their principal residence or are responsible for paying school taxes on it may qualify.

• Rebate Details: For the 2024 tax year, the maximum rebate is $235. Ensure you meet all eligibility criteria and submit the necessary documentation when applying.
   

Examples of Eligible Medical Expenses:

• Bathroom aids (prescription required)

• Dental services

• Diapers or disposable briefs

• Gluten-free products (conditions apply)

• Moving expenses (specific criteria must be met)

• Premiums for private health services plans (e.g., Blue Cross, Sun Life)

• Renovation or construction expenses for medical purposes

• Travel expenses exceeding 40 km one-way for medical services

• Home accessibility expenses up to $20,000 to improve access
   

Please consult the official websites of the Government of Canada, the Canada Revenue Agency, and the Province of Manitoba, or contact them directly for the most current and personalized tax information.

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