Previously Announced Changes to be Implemented in 2014

Previously announced changes that will be implemented this year affect auto expense deductions, labour-sponsored venture capital coporations, and GST/HST exemptions for hospital parking.

• Auto Expense Deductions: Proposed changes to automobile expense deduction limits and the prescribed rates for the automobile operating expense benefit for 2012 announced on December 29, 2011, and for 2013 announced on December 28, 2012. 
• Life Insurance Policyholder Exemption Tests: legislative proposals released on August 23, 2013.
• Labour-Sponsored Venture Capital Corporations: legislative proposals released on November 27, 2013.
• Requirement that international electronic funds transfers of $10,000 or more be reported to the Canada Revenue Agency:  legislative proposals released on January 9, 2014.
• GST/HST rules to prevent input tax credit claims that exceed tax actually paid: legislative proposals released on January 17, 2014.
• GST/HST exemption for hospital parking for patients and visitors: legislative proposals released on January 24, 2014.