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Get all the tax credits you can to hide your cash from the taxman

When it comes to tax credits, be sure you’re getting all that should come to you. Start with this handy tax-trimming checklist.

When it comes to tax credits, be sure you’re getting all that should come to you. Start with this handy tax-trimming checklist.BasicsBasic personal tax credit — raised to $10,382.Spouse/equivalent to spouse and/or eligible dependent credit — for an eligible partner and/or dependent with a net income of less than $10,382.Caregiver credit — up to $4,223 for care of an infirm or elderly relative in your home.Disability credit — transfer unused portion to a supporting relative.Medical expenses credit — generate the largest credit by combining expenses on the return of a lower-earning spouse and/or by choosing the most advantageous 12-month period for unclaimed expenses ending in the current taxation year. Personal health insurance plan premiums including those for travel insurance may also be eligible. Check the extensive list of eligible expenses at www.cra-arc.gc.ca.Charitable donation credit — maximize by combining donations on one tax return or carrying forward to achieve higher tax rate for contributions over $200. Claim previously unclaimed donations for a five-year period.Boomers, etc.Age credit — for those over 65 with a net income below $75,480. Transfer unused portion to supporting spouse.Pension income credit — claim up to $2,000. Transfer unused portion to eligible spouse.Pension income-splitting — may be advantageous to allocate half of your qualifying pension to a lower-earning spouse.ChildrenChildren’s fitness credit — up to $500 per child against eligible fees for a physical activity program.Credit for children born in 1993 or later —- $2,101 per child.Childcare — claim babysitting/other childcare expenses that allow you or your spouse to work or take a training course. Must be claimed by lower-earning spouse.Adoption expenses — claim up to $10,975 for an adoption finalized in 2010. Credit can be split between adoptive parents.StudentsClaim eligible tuition fees, education and textbook costs, and interest on student loans — the supporting parent or grandparent of a student may be able to claim all or a portion of the tuition, education and textbook amounts when transferred to you to a maximum of $5,000.Other tax-trimmersCompany pension plan contribution for 2010 — deductible within limits.Public transit credit — claim the costs of monthly passes/electronic payment cards.First-time home buyers’ credit — $750 for certain homebuyers who acquired a qualifying home after Jan. 27, 2009.Be sure you get every tax-trimmer available to you — talk to your professional adviser before you file.J. Kevin Dobbelsteyn is a certified financial planner with Investors Group Financial Services Inc. His column appears every Wednesday.