As Personal Income Tax Professionals, we often tell our clients that we can adjust taxes going back up to 10 years. This is true for federal taxes and federal tax credits (such as the Disability Tax Credit and Medical expenses), but not necessarily for refundable personal tax credits that are specific to Manitoba.
Some Province of Manitoba credits can be adjusted going back up to three years, but there are two that have deadlines coming up quickly: March 31, 2015.
The newest tax credit, the Manitoba Seniors School Tax Rebate must be applied for by March 31 2015. The maximum rebate is $235.00 for landowners 65+. If you need an application form, stop by my office. If you bring your 2014 property taxes with you, we can complete the form and fax it immediately so you get your rebate filed by March 31, 2015. Or you can go the Province of Manitoba website to get the forms and you can apply on-line (if you are still out of province!)
Remember that you must own the land. So if you have a mobile home on rented land (for example, Paradise Village), you do not qualify (your name is not officially on the property tax bill).
The Farmland School Tax Rebate also must be applied for by March 31, 2015. Remember this rebate has nothing to do with whether you farm or not (we don’t). If you own some acreage, check your 2014 Property Tax bill, if it says “farmland” on it, you qualify. If you don’t have a form, you can get it from the Province of Manitoba website, or drop by or call my office and we will help you out.
Other provincial refundable credits received when filing your personal income tax have deadlines too. Some common Province of Manitoba credits include: the $700 Education Property Tax Credit and $1275 Manitoba Primary Caregiver Tax Credit. The deadline to adjust your 2012 income taxes is December 31 2015. The Manitoba Primary Caregiver Tax Credit takes some time to get approval, so don’t wait till the end of the year.
The $700 (maximum) Education Property Tax Credit is claimed on your Personal Income tax if you did not receive it on your Property Tax bill. I will normally include these on personal income taxes when there is more than one home on one property (more common in the rural areas of Manitoba) and when people move to a new home (may need to be prorated for a few months). Also those who rent can only get these credits when filing the personal income tax. If you are behind in filing your personal income taxes, you may only get them for the past few years.
The Manitoba Primary Caregiver Tax Credit was introduced in 2009. It acknowledges that many individuals remain in the community because others (spouses, family, friends and neighbours) help them out, and reduce their need for homecare or delay the need to go to a personal care home. These “informal” caregivers can claim the credit – up to $1275/year. But we can only go back up to three years. So if someone has been helping you out, they may quality. If you help someone else out, you may quality. Check out the Province of Manitoba website, or call my office. One caregiver can claim up to three Credits (if you are providing care for up to three people).
Senior households with a combined income of $40,000 or less may be eligible for an additional Education Property Tax Credit of up to $400. This provides savings of up to $1,100 when combined with the basic $700 Education Property Tax Credit. Whether you are a homeowner or a tenant, you can claim this additional amount on your personal income tax return. Were you and your spouse or common-law partner living apart at the end of the year for medical reasons (one in a personal care home)? If so, and you and your spouse or common-law partner occupied separate residences for part or all of the year, both of you can claim separate personal tax credits.
A reminder to have your 2014 taxes filed by April 30 2015 especially if you owe taxes. If you are getting a refund, you have three years to file. If you are self-employed, we have until June 15 to file without penalty, although interest does begin May 1 2015.
I have arranged for a temporary office in Lorette Wednesday evenings; call for an appointment if that’s a more convenient location for you.
Anni Markmann is a tax professional working, living, and volunteering in our community. Contact Anni at 204-422-6631 or email@example.com or 36 Dawson Road in Ste Anne.