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Video instructions and help with filling out and completing Fill Form 944 Pr Credits

Instructions and Help about Fill Form 944 Pr Credits

Hi I'm Debbie Peveril from Pan's financial training group and this video is about how to fill in your federal td1 form for 2023 this is a two-page form and the first box of it includes your name your address your date of birth and your social insurance number all information which you should be fairly easy to get and to fill in so that's the first box after that we move on to the numbers the box one includes the number 12,000 and $69 and it's pre-printed you'll see it already on the form that's the base amount that you're allowed to make in Canada in taxable income before you start to pay any federal income tax so that's what they call the basic exemption twelve thousand and sixty nine dollars in box two we have the caregiver mount this is a federal amount called the canada caregiver amount and it is for any child under the age of eighteen who is considered infirm and the amount is two thousand two hundred and thirty dollars and you can put that amount in for each child that you have who meets the criteria of being infirm box three is the age exemption if you are over the age of 65 at the beginning of 2023 then you could be entitled to a further claim which goes in this box so the way the amount works is if you earn less than thirty seven thousand seven hundred and ninety dollars then the amount of the claim is seven thousand four hundred and ninety four dollars if you earn over eighty seven thousand seven hundred and fifty dollars you can make no claim for this this exemption only applies to people whose income falls under the 37,000 criteria it doesn't apply to...

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