What's new for 2011? Volunteer firefighters amount (line 362) - $3,000. A Taxpayer can claim an amount of $3,000 if he/she meets the following conditions: was a volunteer firefighter during the year; and completed at least 200 hours of eligible volunteer firefighting services Eligible services include (a) responding to a fire, (b) meetings and (c) training This amount cannot be claimed in addition to the exemption for amounts received from government or municipality shown in Box(87) on the T4 slip. CRA may require certification from a fire chief or delegated official within the fire department to verify the number of hours of eligible volunteer firefighting services performed. Schedule 1 - Page 1
Children s arts amount (line 370) - a maximum amount of $500.00 ($1000.00 for children who qualify for the disability amount) may be claimed per child for eligible fees paid for the registration or membership of a child in a prescribed program of artistic, cultural, recreational, or developmental activity. The child must have been under 16 years of age or under 18 years of age if eligible for the disability amount at the beginning of the year in which an eligible arts expense was paid. Prescribed program To qualify for this amount, a program must: be ongoing (at least eight consecutive weeks, or in the case of children's camps, five consecutive days); be supervised; and be suitable for children. The program also has to meet at least one of the following criteria: it contributes to the development of creative skills or expertise in an artistic or cultural activity; it provides a substantial focus on wilderness and the natural environment; it helps children develop and use particular intellectual skills; it includes structured interaction among children where supervisors teach or help children develop interpersonal skills; or it provides enrichment or tutoring in academic subjects. Children with disabilities - If the child qualifies for the disability amount and is under 18 years of age at the beginning of the year, an additional amount of $500 can be claimed as long as a minimum of $100 is paid on registration or membership fees for a prescribed program. Programs that are part of a school curriculum are not eligible. This amount can be claimed if another person has not already claimed the same fees and the total claimed is not more than the maximum amount that would be allowed if only one person made the claim.
Allowable amount of medical expenses for other dependants (line 331) - The maximum $10,000 limit per eligible dependant has been removed. Claim on line 331 the part of eligible medical expenses you or your spouse or common-law partner paid for the following persons who depended on you for support: your child who is 18 or older, or grandchild; or your or your spouse's or common-law partner's parent, grandparent, brother, sister, aunt, uncle, niece, or nephew who was a resident of Canada at any time in the year. The expenses must meet the criteria in the section called "Eligible medical expenses" at line 330. They have to cover the same 12-month period that was determined under line 330. Canada Child Tax Benefit (CCTB) - Beginning July 2011, each eligible parent in a shared custody situation will get half of the child benefit and credit payments for that child every month that they qualify.
What's New For 2012 Canada Pension Plan (CPP) contributions - As of January 1, 2012, NL taxpayers who are an employee or self-employed, 65 to 70 years of age, and receiving a CPP or Quebec Pension Plan (QPP) retirement pension must continue to contribute to CPP unless he/she has elected to stop paying CPP. Taxpayers under age 65 must contribute to CPP and cannot elect to stop paying. Taxpayers who are employees must complete CPT30 and send the original to CRA and give a copy to each employer. Taxpayers who are only self employed must complete the applicable section of the Schedule 8 on the T1. Enter the month if starting the election to stop this year
Students - More examination fees now qualify for the tuition amount. In addition, the minimum duration of courses taken at a university outside Canada has been reduced to three consecutive weeks for amounts claimed on line 323. Medical expenses (lines 330 and 331) - Prescribed blood coagulation monitors for individuals who require anti-coagulation therapy are now eligible as medical expenses. Family caregiver amount - If you have a dependant with an impairment in physical or mental functions, you may be eligible to claim an additional amount of $2,000 ($2,040.00 in 2013) for one or more of the following amounts: spouse or common-law partner amount (line 303); amount for an eligible dependant (line 305); amount for children age 18 or under (line 367); and caregiver amount (line 315). You can claim the FCA for more than one eligible dependant. In the example below the taxpayer has a spouse who has a disability, one child with a disability and one child who does not have a disability. The claim for a spouse with no income in 2013 is $11,078.00. Because the spouse has a disability, the claim is increased to $13,078.00. The claim for the child with the disability is $4,274.00 while the claim for the child without the disability is $2,234.00 The claim is made automatically by Cantax when the disability is indicated for the dependants.
The Family Caregiver Amount for a dependant over 18 is automatically added to that claim on Line 306 (Infirm Dependant) or Line 315 (Caregiver Amount) when the Nature of infirmity is indicated on the Dep screen for that dependant, the claim is automatically made. If the Caregiver amount is being claimed for a parent who is 65 or older, the Family Caregiver Amount cannot be made unless the parent also has an infirmity. The nature of that infirmity must be indicated on the Dep screen. What's new for 2013? Other income (line 130) Enter on line 130 amounts (grants) paid to you as a result of taking time away from work to cope with the death or disappearance of your child because of an offence or probable offence under the Criminal Code Donations and gifts (line 349) For the 2013 to 2017 years, you may be able to claim a first-time donor s super credit. The FDSC will increase the value of the federal Charitable Donations Tax Credit by 25 percentage points if neither the taxpayer nor their spouse has claimed the credit since 2007. The FDSC will apply on up to $1,000 in cash donations claimed in respect of any one taxation year from 2013 to 2017.
Adoption expenses (line 313) For adoptions finalized in 2013 and subsequent years, the adoption period has been extended. The adoption period: begins either when an application is made for registration with a provincial or territorial ministry responsible for adoption (or with an adoption agency licensed by a provincial or territorial government) or when an application related to the adoption is made to a Canadian court, whichever is earlier; and ends when an adoption order is issued by, or recognized by, a government in Canada for that child or when the child first begins to reside permanently with you, whichever is later. Overseas employment tax credit (line 426) From 2013 to 2016, the overseas employment tax credit will be phased out. It will be eliminated for 2016 and subsequent years.
What's new for the 2014 Return Family Tax Cut (line 423) You may be able to claim a non-refundable tax credit of up to $2,000 to reduce your federal income tax. Check the Tax Shelter Web Site for more information. Emergency services volunteers (line 101) The rules for the $1,000 exemption for emergency services volunteers have changed. In 2014, you may have received a payment from a government, a municipality, or another public authority for your work as a volunteer ambulance technician, a firefighter, or a search, rescue, or other type of emergency worker. The T4 slips issued by this authority will generally show only the taxable part of the payment, which is the part that is more than $1,000. The exempt part of a payment is shown in box 87 of your T4 slips. As an emergency services volunteer, you may qualify for the volunteer firefighters amount (VFA) or the search and rescue volunteers amount (SRVA). If you are eligible for the $1,000 exemption and either the VFA or the SRVA, you must choose which one you would like to claim. You cannot claim both.
Lifetime capital gains exemption (line 254) For dispositions of qualified small business corporation shares and qualified farm and fishing property made after 2013, the lifetime capital gains exemption limit has increased to $800,000. For more information, see Guide T4037, Capital Gains. Adoption expenses (line 313) The maximum amount of eligible expenses for each child has increased to $15,000. For more information about adoption expenses, see page 43. Medical expenses (lines 330 and 331) Costs for the design of personalized therapy plans for persons eligible for the disability tax credit and costs for service animals used to help manage severe diabetes are now eligible as medical expenses. For more information, see Guide RC4064, Medical and Disability-Related Information. Children s fitness amount (line 365) The maximum amount of eligible fees for each child has increased to $1,000. For more information, see page 41. Search and rescue volunteers amount (line 395) As a search and rescue volunteer, you may be able to claim an amount of $3,000. For more information, see page 40. GST/HST credit You no longer have to apply for the GST/HST credit. When you file your return, the CRA will determine your eligibility and tell you if you are entitled to receive the credit. The credit will be paid to the spouse or common-law partner whose return is assessed first. T1-DEP - Dependant Information (T1-DEP) As stated in the T1 guide, when separated from his/her spouse or common-law partner for only part of the year because of a breakdown in the relationship, a taxpayer can still claim the amount for an eligible dependant on line 305 of Schedule 1. Therefore, the question Did the taxpayer separate during the year but reconcile before the end of the year? has been added to the Schedule 5 Details of dependant section in the T1-DEP form to allow you to claim the amount for an eligible dependant, if applicable, whether the marital status is married or living common-law at the end of the year Dep Screen