First Act to Implement 2017 Budget Now Law

On June 22, 2017, Budget Implementation Act, 2017, No 1 received Royal Assent and is now law. 

Tax Measures

The following tax measures were included in this Act: 

Canada Caregiver Credit

This new credit for 2017 replaces the Caregiver Amount, Family Caregiver Amount, and the Amount for Infirm Dependants over age 18.  Many taxpayers who care for infirm dependants will see little change, although there will be some differences such as:

• Adults who care for their parents who are over 65 but not infirm will no longer be eligible for tax relief
• Families who care for infirm dependants who do not live with them may receive a larger credit if the dependant’s income is between about $6,800 and $23,000.
• Taxpayers with infirm spouses with some income may see an increased claim. Knowledge Bureau’s Income Tax Estimator has the new Canada Caregiver Amount already built in.  Sign up for a free trial today. 

Tuition Eligibility

Starting in 2017, tuition paid for occupational skills courses taken at a university, college or other post-secondary educational institution will be eligible for the Tuition Tax Credit if those courses are taken by the student to acquire or improve their skills in an occupation, even if the courses are not at a post-secondary level. To be eligible, the student must be over 16 at the end of the tax year. In prior years, only courses at a post-secondary level qualified for the credit. 

Non-Tax Measures

In addition to the tax changes and provisions enacted, the Act includes non-tax measures to:

• provide funding to provinces for home care and mental health services
• extend EI parental benefits from 12 to 18 months (albeit at a lower benefit rate)
• extend maternity benefits to begin 12 weeks, rather than 8 weeks, before the mother’s due date
• provide additional support for veterans and their caregivers
• establish the Canada Infrastructure Bank
• launch a Pan-Canadian Artificial Intelligence Strategy 

Note: Budget Implementation Act, 2017, No 2, which implemented other budget measures, received Royal Assent on December 15, 2016. 

©2017 Knowledge Bureau Inc. All Rights Reserved.
 

Refer a Friend	Research	Calculators	Course Trials