Ontario proposes new tax credit for seniors

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Tories also propose enhancing existing tax credit for low-income earners 

The Ontario government proposed a new refundable tax credit to help low- and moderate-income seniors with medical expenses in its 2022 budget tabled Thursday.

The province also proposed expanding the tax relief available under the existing Low-income Individuals and Families Tax Credit (LIFT) targeted to low-income workers in the province.

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Original Article Source Credits: Advisor's Edge, https://www.advisor.ca

Article Written By: Rudy Mezzetta

Original Article Posted on: April 28, 2022

Link to Original Article: https://www.advisor.ca/tax/tax-news/ontario-proposes-new-tax-credit-for-seniors