2024 Tax Credits Canada Income Limits. The old age security (oas) repayment using 2024 income takes effect for payments from july 2025 to june 2026 and is for net world income from $90,997 to. Every taxpayer gets a tax credit for the basic personal amount, so any person can earn taxable income of $15,705 in 2024 without paying any federal tax, and can earn.
$15,705 (up from $15,000 in 2023). Today, the department of finance canada announced the automobile income tax deduction limits and expense benefit rates for 2024.