Somehow the upcoming filing season is coming in Canada, and CRA is encouraging the people to file their return. The filing of the returns in Canada is going to get started from 24th February, 2025 and various tax credits and benefits along with deductions are being provided by the CRA to the Canadians.
One of such tax credits which CRA is going to provide for the year 2024 as tax year is $8790. It is a tax credit that could only be provided by the CRA to the elderly citizens in Canada.
Any senior citizen aged 65 years or over may claim this Age Amount. This is the maximum amount above which the age tax credit is eligible only for seniors. At times seniors from Canada may not qualify for such benefits; hence, the CRA has made these tax credit and deductions available.
Such is the kind of tax credits which the CRA will offer for the 2024 tax year. Each year, the CRA always provides an age amount for seniors.
This filing season, the amount which is set as per CRA is $8790. It states that this credit will be made available to aged Canadians that will be aged 65 years or older on December 31, 2024. This tax credit will be deducted from the tax payable by the senior residents which might reduce their financial burden.
Canada Age Amount Tax Credit 2025- Overview
| Post Title | |
| Year | 2025 |
| Country Name | Canada |
| Issuing Agency | CRA |
| Month | February |
| CRA Age Amount Tax Credit Eligibility 2025 | Those Canadians who have 65 years age or older |
| Purpose | Financial Assistance |
| How To Claim Age Amount Of $8790? | File Tax Return and Complete Line 30100 |
| Post Category | Finance |
| Official Web Page | www.canada.ca |
CRA Age Amount Tax Credit Eligibility 2025 :
This is entirely for seniors in Canada. Those who are 65 or older on December 31, 2024 are eligible to receive this. Their net income must be under $102,925. In this case, the net income on Line 23600 must include the net income of under $102,925.
As for the credit, if a senior income is below $44,325, he or she will be entitled to claim a full amount of $8790. But if such senior has an annual income above $44,325 but below $102,925, then the following calculation should be used for the determination of the credit:
| Maximum Amount | – | $8790 |
| Amount from Line 23600 | A | – |
| Income Threshold | $44325 | – |
| Minus Amount from Line 23600 and Income Threshold | B | – |
| Applicable Rate | 15% | – |
| Multiply B with 15% | C | – |
| Minus Maximum Amount of $8790 from C | – | D (Tax Credit Amount) |
In case, the resident has an income greater than $1,02,925 the resident has to enter 0 on Line 30100.
How To File For Age Amount Of $8790?
The residents have to enter Line 30100 in their return. Therefore, the line that is completed regarding this return would mean striving to receive a tax credit of $8790 must also be filed with the completion of Line 30100.
Fact Check:
8790 Age Amount 2025 This $8790 Age Amount is indeed valid. So, this $8790 is actually tax credit that will be claimed within the returns by the residents, for this age amount then the seniors must actually be above 65 years of age or even above this.
This income tax would curtail seniors’ taxable income. The $8790 Age Amount refers to the 2024 tax year credits. For any further updates on this $8790 Age Amount, residents can visit the official CRA portal or Service Canada Age.
For personal knowledge, seniors can also consult with tax agents or financial advisors. Seniors can claim this $8790 on line 30100. This is the maximum age amount beyond which no tax credit is possible.
FAQS:
What is an Age Amount Tax credit, anyway?
The age amount tax credit is a gift of the Canadian Government for the elderly whom the CRA neglects and who might therefore be in need financially. The credit reduces tax liability of the elderly.
Who would qualify to get Age Amount Tax credit 2025?
The seniors who would have attained the age of sixty-five years on the thirty-first day of December nineteen hundred twenty-four.
What do the seniors need to do for this $8790 Tax Credit?
The seniors need to complete the return and complete the Line 30100 for this $8790 Tax Credit.
Is there a net income limit for this age amount?
Seniors with net income below $44,325 received a whole $8790, whereas seniors with net income between $44,325 and under $1,02,925 got partial payment credits.