The basic personal amount is just one of the non-refundable tax credits every Canadian resident is entitled to claim on their income tax return. This amount changes year to year, in order to keep up with inflation.
Starting 2023, the federal basic personal amount is based on your net income for the year. The maximum basic personal amount you can claim for 2023 is equal to $15,000; this amount is applied to your return to reduce the amount of income you’re required to pay tax on.
You’re also entitled to claim a corresponding provincial basic personal amount, which varies in amount depending on which province or territory you live in.
Note: If you moved to or from Canada in 2023, your basic personal amount will be adjusted to reflect the amount of time you lived here during the year.
Where can I claim this?
H&R Block’s tax software will automatically claim both your federal and provincial basic personal amounts on your return.
