- Canadian Tax Resource Blog - http://blog.taxresource.ca -

Line 300: Basic Personal Amount

The basic personal amount is a tax credit available to anyone who paid income tax during the tax year. The impact of this tax credit is that any income you earned up to the amount of the credit is essentially tax free.

For the 2011 tax year, the federal Basic Personal Amount was $10,527 and will reduce the amount of tax payable on the first $10,527 by $1,579. Therefore, the first $10,527 of income earned in 2011 will not be taxed.