Tax Tips for 2013 has been compiled to assist you with your 2013 personal tax returns. Remember: your personal tax return for 2013 has to be filed on or before April  30, 2014.

First and foremost, ensure you claim your personal medical expenses with the Olympia HSA. This will save you up to 40% in taxes on your medical expenses.

Top 5 Tax Tips for 2013

1. Canadian Children’s Arts Tax Credit

This is a non-refundable tax credit to encourage the participation of children in artistic, cultural, recreation and development programs. A wide variety of programs are eligible for up to $500.

2. Canadian Children’s Fitness Tax Credit

This is a non-refundable tax credit for up to $500 in eligible fees for enrolling a child under 16 in an eligible program of physical activity. Children with disabilities under the age of 18 are given an additional $500.

3. Bus Passes and Transit Costs

Are you riding the bus or subway? All family members can make a claim for public transit costs. Either spouse may claim the public transit costs for the entire family, including dependent children under 19. Fortunately, there is no maximum amount but there are some conditions on the eligibility of the passes you claim.

4. Be aware of provisions that are routinely audited:

A. Rental Income

B. Taxable capital gains

C. Support payments received

D. Self-employment income

5. File your taxes online for free

CRA's online services allow you to file your return, track your refund, and change your personal information.

In addition to these tips, keep in mind to file your taxes on time and keep good records.

Do you have any tax tips to share?