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Q: If I employ a full time senior citizen who is 60 years old or above, what kind of tax incentive am I eligible to claim?
A: If you employ a full time senior citizen who is 60 years old or above and fulfill the conditions in the Income Tax Rules, you are eligible to claim further tax deduction (double deduction) on the remuneration paid to this employee.
Wishing you plentiful tax savings!
YYC Tax Guru