6 Ways The New Federal Budget Can Affect Your 2017 Tax Return In March, the Liberal government announced the federal budget for 2017 2018, which included several important changes that impact taxpayers in Canada.
Although there were relatively few tax measures mentioned on March 22, it's important to know what these changes are and what the implications will be for you and your family in the coming years. (Photo: Dean Mitchell via Getty Images) Much to the disappointment of many Canadians who rely on public transportation and used to claim those expenses in their tax returns, the government announced the elimination of the public transit amount. According to the Liberals, they found that the credit hasn't been effective enough in encouraging the use of public transit and reducing greenhouse gas emissions. The good news, however, is that the public transit amount ray ban brand won't be eliminated until July 1, 2017, so it will make one last appearance when you file your 2017 tax return hooray! HST/GST for ride sharing services equals leaner wallets In an attempt to level the playing rayban aviator 3025 field between taxis and ride sharing services, the government will be introducing HST/GST charges to Uber and Lyft rides. What that means is the average consumer is now going to see an HST or GST charge on their receipts after using a ride sharing service, just like they would on a regular taxi ride ultimately making their ride more expensive than it was before. The change will take effect on July 1, 2017, so there's still a bit of time to get mentally prepared for that. Time to claim that fertility treatment Many Canadians who have used assisted reproductive technologies over the past 10 years may now be eligible for a tax break thanks to a change announced during the federal budget. Previously, Canadians had to be diagnosed as medically infertile to be able to claim the cost of reproductive technologies as part of their medical expenses in their tax filing. Now, you don't have to be medically diagnosed as infertile, which opens the tax credit to people like single women who want to have a child or same sex couples who want to start a family. The super credit was introduced in the 2013 federal budget and provides an additional 25 per cent tax credit for the first $1,000 donated to a registered charity by a donor who has not claimed a charitable donation tax credit since 2007. This measure was always intended to be temporary, available only for gifts made after 2012 and prior to 2018. Donors who have not claimed a charitable donation tax credit since 2007 should consider making a donation before the end of 2017 to take advantage of the super credit before it expires.
Tax evasion be gone During the budget meeting, the government reiterated that ray ban 4026 it is committed to cracking down on tax evasion and combating tax avoidance. According to the government, this will be accomplished by increasing verification activities, hiring additional ray ban usa auditors and specialists with a focus on the underground economy, developing structures to target high risk international tax and abusive tax avoidance schemes and also improving the investigation of criminal tax evaders. For Canadians who are transparent about their taxes each year, this shouldn't affect them it just means everyone needs to pay their fair share moving forward.
Prev: ray ban 2140
Next: ray ban sunglasses outlet