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What impacts you most in the 2017 Budget?

on Sun, 03/26/2017 - 21:23

We had our Federal budget out last week, so what does it mean and what impact does it do to you as an individual?

- Canada Caregiver Credit

The Budget proposes to simplify the current caregiver credit system by replacing the Infirm Dependent Credit Caregiver Credit and Family Caregiver Tax Credit with a new Canada Caregiver Credit. The new credit is consistent with the amounts that could have been claimed previously and better targets those who need it the most.

- Disability Tax Credit

The Budget proposes to add nurse practitioners to the list of medical practitioners who can certify eligibility forthe credit.

- Public Transit Tax Credit

The Budget proposes to eliminate the credit effective June 30 2017.

- Tuition Tax Credit

The Budget proposes to extend the range of courses eligible for the Tuition Tax Credit. The credit now applies totuition paid for occupational skills courses that are below the post‐secondary level at a college or university.

- First-Time Donor’s Tax Credit

Confirmation that the first‐time donor’s tax credit will expire after 2017.

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