Canada Employment Amount Tax Credit
A non-refundable tax credit is available for the first $1,000 of employment income earned. The credit is based on the lesser of:
- $1,000; and
- total employment income reported on lines 101 and 104 of the tax return.
The tax credit is calculated by multiplying the lowest federal tax
rate (15% for 2007 and 2008) by the lesser of $1,000 and total
employment income.
Yukon also provides a non-refundable tax credit for the Canada
employment amount. The tax credit is calculated by multiplying the
lowest Yukon tax rate by the lesser of $1,000 and total employment
income. To see the tax rate for non-refundable tax credits for
Canada and all provinces and territories except Québec, see the
tables of non-refundable tax credits.
The Canada employment amount is indexed for inflation each year, so
is $1,019 for 2008, both for the Federal and Yukon tax credit
amount.
No other provinces or territories provide a Canada employment amount
tax credit at this time.