The Basic Personal Amount is a non-refundable tax credit that reduces ones taxes by $11 635 in 2017.

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Quizplus · Accepted Answer

The Basic Personal Amount is indeed a non-refundable tax credit, but the amount varies by year. For 2017, the Basic Personal Amount in Canada was $11,635, but the statement that it reduces one's taxes by that amount is incorrect. It reduces the amount of income that is subject to tax, not directly reducing taxes by that dollar amount.

The Basic Personal Amount Is a Non-Refundable Tax Credit That