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What's New For Tax Year 2011?

Tax law changes that affect most taxpayers:
  • Children's arts amount
    In addition to the fitness amount, now you can claim an amount for eligible expenses paid for the registration or membership of your child in a prescribed program of artistic, cultural, recreational, or developmental activity.

  • Allowable amount of medical expenses for other dependants
    The maximum $10,000 limit per eligible dependant has been removed.

  • Volunteer firefighters' amount
    As a volunteer firefighter, you may be able to claim an amount of $3,000.

  • 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 Manitoba residents
    • The children's fitness amount has been changed to the fitness amount. It can now be claimed for young adults under 25 years of age;
    • A new refundable tax credit, the cultural industries printing tax credit, has been introduced for eligible printers in Manitoba;
    • A credit that reflects the federal children's art amount has been added.

  • For Newfoundland and Labrador residents
    • There is a new non-refundable tax credit for volunteer firefighters;
    • There is a new non-refundable child care tax credit.

  • For Ontario residents
    • As of July 2012, payments for the Ontario sales tax credit, the Ontario energy and property tax credit, and the Northern Ontario energy credit will be combined as the Ontario Trillium Benefit and will be paid monthly. Because of this, your refund might be less than last year even though your numbers are similar;
    • The labour-sponsored investment fund tax credit rate has changed from 10% to 5%.

  • For PEI residents
    • There is a new equity tax credit for investments in eligible shares.

  • For Saskatchewan residents
    • Saskatchewan pension plan (SPP) income - SPP income is eligible for the pension amount and you and your spouse or common-law partner may be able to split the income from the plan. Report your SPP income on line 115;
    • SPP contributions - For 2010 and later tax years, SPP contributions are generally subject to the same rules as registered retirement savings plan (RRSP) contributions. The annual contribution limit to the SPP has increased to $2,500 from $600. Contributions to an SPP are limited by your RRSP contribution room for the calendar year. Claim your SPP contributions on line 208.

Other Highlights
  • The RRSP contributions (schedule 7) page has been refined so line 208 is calculated when never changes are made;

  • View CRA's What's new for 2011?

  • Previous what's new: 2010 2009

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