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What's New For Tax Year 2016?

Express Notice of Assessment (eNOA)
Once the service is online (expected to be available at the end of February of beginning of March 2017), eNOA will allow our client to download their Express Notice of Assessment directly using our product. In most cases, the eNOA will be available the next after you have filed your return.

You need to have CRA "My Account" to download the eNOA.

Tax law changes that affect most taxpayers:
  • Sale of principal residence
    The sale of a principal residence must now be reported, along with any principal residence designation, on Schedule 3, Capital Gains (or Losses) in 2016

  • Home accessibility expenses
    You can claim a maximum of $10,000 for eligible expenses you incurred for work done or goods acquired for an eligible dwelling. The home improvement has to be made for seniors or disabled individuals.

  • Eligible educator school supply tax credit
    If you were an eligible educator, you can claim up to $1,000 for eligible teaching supplies expenses.

  • Canada child benefit (CCB)
    As of July 2016, the CCB has replaced the Canada child tax benefit (CCTB), the national child benefit supplement (NCBS), and the universal child care benefit (UCCB). CCB is non-tax income.

  • Children's arts amount
    The maximum eligible fees per child (excluding the supplement for children with disabilities) has been reduced to $250. Both will be eliminated for 2017 and later years.

  • Children's fitness tax credit
    The maximum eligible fees per child (excluding the supplement for children with disabilities) has been reduced to $500. Both will be eliminated for 2017 and later tax years.

  • Tax rate change
    The tax rate for taxable income of more than 200K has increased from 29% to 33%.

  • Family tax cut
    For 2016 and later years, the credit has been eliminated.

  • Oversea Employment Tax Credit
    For 2016 and later tax years, this credit has been eliminated (form T626).
Provincial Tax Changes
  • British Columbia
    There are two new non-refundable tax credits: the farmers' food donation tax credit and the back-to-school amount.

    The British Columbia seniors' home renovation tax credit is now called the British Columbia home renovation tax credit for seniors and persons with disabilities and is expanded to include persons with disabilities who are eligible for the federal disability tax credit.

  • Manitoba
    The Manitoba seniors' school tax rebate is now claimed on tax returns.

  • Newfoundland and Labrador
    You may have to pay a temporary Newfoundland and Labrador deficit reduction levy based on your 2016 taxable income.

  • Nova Scotia
    There is a new non-refundable tax credit - the food bank tax credit for farmers. This credit applies to eligible donations of agricultural products by farmers or their spouses or common-law partners to eligible food banks.

  • Saskatchewan
    The active families benefit and Form SK479, Saskatchewan Credits, have been eliminated.
Other Highlights
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