[Verse 1] When you've calculated all your income tax There's still more work before you can relax Credits come in two different kinds you see Non-refundable and refundable, let me explain these Basic personal amount for everyone Spousal credit when two become one Dependant credit for those you support Age and disability, medical of all sorts [Chorus] Credits reduce the tax you owe Some are capped, some help you grow Non-refundable stops at zero Refundable makes you the hero Section one-eighteen to one-eighteen-nine These credits help your bottom line [Verse 2] Tuition fees and charitable giving too Medical expenses over threshold due These non-refundable credits have their place They lower taxes but won't increase your space Below zero they will never go But refundable credits steal the show GST credit comes back to you Canada Workers Benefit pulls you through [Chorus] Credits reduce the tax you owe Some are capped, some help you grow Non-refundable stops at zero Refundable makes you the hero Section one-eighteen to one-eighteen-nine These credits help your bottom line [Bridge] Climate Action Incentive pays you back Provincial credits fill the gap you lack Calculate provincial tax as well Each province has its own story to tell Alternative Minimum Tax watch out Twenty twenty-four brought changes about Higher exemption, broader base Make sure AMT doesn't win the race [Verse 3] Federal tax times provincial rate Add them together, don't be late Credits applied in order due First non-refundable, then refundable too Final calculation shows what's owed Or if refund comes down the road Seven types of credits in your hand Help you navigate this tax law land [Chorus] Credits reduce the tax you owe Some are capped, some help you grow Non-refundable stops at zero Refundable makes you the hero Section one-eighteen to one-eighteen-nine These credits help your bottom line [Outro] From basic personal to climate care Tax credits lighten the load you bear Calculate wisely, apply each rule These seven credits are your tax law tool
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