- The Working Income Tax Benefit (WITB) is a refundable tax credit which became available in 2007 to low-income individuals and families with working income over $3000. (The base amount for BC taxpayers is $4500.00).
- The purpose of the WITB is to provide lower-income taxpayers with a financial incentive to enter or remain in the work force.
- The calculations for the WITB differ for BC, Quebec and Nunavut, such as the base amount as noted above.
- The eligibility requirements depend on wether the taxpayer is single, has an eligible spouse or an eligible dependant, as well as the income level.
- Taxpayers who qualify for the disability amount may qualify for an disability supplement.
- Taxpayers who are eligible for the WITB can apply to CRA for a prepayment of one-half of their estimated WITB, as long as the WITB is at least $200 for the year. Receiving the advance payments will reduce your tax refund. See below for the application.
To find out if you are eligible call us for an estimate - 250-963-7199
or email 1stchoice@netscape.ca
Their is no charge for this service.