Whats new for the 2017 tax filing season
CRA has posted changes to EFILE services for the 2017 tax-filing season. The following are new:
- Express NOA delivers an instant message regarding a filing, and then, within 24 hours, delivers the notice of assessment directly into EFILE-certified tax preparation software. To receive an express notice of assessment, tax preparers must have CRA credentials and have completed Part C of Form T183, Information Return for Electronic Filing of an individual’s Income Tax and Benefit Return.
- ReFILE for Efilers lets representatives send adjustment requests for a client’s return using EFILE-certified software. Representatives can make changes to this year’s and last year’s return. To use this service, you must have Level 2 authorization for your client’s account.
- Pre-authorized debit for EFILE allows EFILE users to send payments electronically to CRA for a taxpayer. This service is available in certain EFILE-certified software products. The service will be fully implemented in all EFILE software by February 2017.
For more information on Authorized representatives, click here
Our Services
- CRA and Revenu Quebec now allows us to print a computer-generated facsimile of your the T7DR(A) and TP-1026.01 remittance voucher(s).
Individuals and families
- Scholarships, fellowships, bursaries, and artists’ project grants exemption: (line 130) – The eligibility for the exemption has been enhanced under certain conditions to include scholarships and bursaries received for occupational skills courses that are not at the post-secondary level.
- Canada caregiver amount: The Canada caregiver amount has replaced the family caregiver amount, the amount for infirm dependants age 18 or older (line 306), and the caregiver amount (line 315). You could be entitled to claim this amount in the calculation of certain non-refundable tax credits if the person you are making the claim for has an impairment in physical or mental functions.
- Your tuition, education, and textbook amounts: (line 323) – As of January 1, 2017, the federal education and textbook amounts have been eliminated. The eligibility criteria for the tuition amount has been enhanced under certain conditions to include fees paid for occupational skills courses that are not at the post-secondary level.
- Medical expenses (lines 330 and 331) – Individuals who need medical intervention to conceive a child are eligible to claim the same expenses as individuals with medical infertility. You can also request an adjustment to claim such medical expenses on any income tax return for the 10 previous calendar years.
- Donations and gifts: (line 349) – A gift of ecologically sensitive land cannot be made to a private foundation after March 21, 2017. There are also a number of changes to the Ecological Gifts Program.
- Public transit amount: (line 364) – As of July 1, 2017, this amount has been eliminated.
- Children’s arts amount: (line 370) – As of January 1, 2017, this amount has been eliminated. (Note: there is tax credit for children’s activities in Quebec)
- Children’s fitness tax credit: (lines 458 and 459) – As of January 1, 2017, this credit has been eliminated.
Disability tax credit (DTC) certification – As of March 22, 2017, nurse practitioners have been added to the
list of medical practitioners who may certify eligibility of a person for the DTC. (Note: there is tax credit for children’s activities in Quebec)
Interest and investments
- Investment tax credit: (line 412) – Eligibility for the mineral exploration tax credit has been extended to flow-through share agreements entered into before April 2018. In addition, as of March 22, 2017, expenses for the creation of child care spaces are no longer eligible for the investment tax credit.
- Labour-sponsored funds tax credit: (lines 411 and 419) – As of January 1, 2017, the tax credit for the purchase of shares of federally registered labour-sponsored venture capital corporations (LSVCC) has been eliminated. The tax credit for provincially registered LSVCC can still be claimed on lines 413 and 414.
For more information on preparing your 2017 tax return, click here
Individuals and families
Full indexation of the tax system A number of other amounts have been increased, including the following:
- the deduction for workers (line 201);
- the basic personal amount (line 350);
- the income threshold at which certain tax credits are reduced;
- the amount for a person living alone (line 20 of Schedule B);
- the age amount (line 22 of Schedule B); and
- the basic exemption for calculating the contribution to the health services fund (Schedule F).
- Québec prescription drug insurance plan: On July 1, 2017, the contribution rates for the Québec prescription drug insurance plan were increased. Consequently, the maximum premium has been increased from $660 to $667. However, the maximum premium payable for the entire 2017 taxation year is $663.50.
- Tax credits for donations and gifts: The tax credit rate has been raised from 34% to 35% of your eligible expenses.
- Tax credit for workers 63 or older: The age of eligibility for the tax credit for workers has been lowered from 64 to 63. In addition, the maximum eligible work income has been increased from $6,000 to $8,000 for workers 65 or older. The maximum tax credit is $1,200.
For more information on preparing your 2017 tax return, click here