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All tax changes are subject to legislative approval.
Existing Tax Credits Extended
- Manufacturing Investment Tax Credit and Mineral
Exploration Tax Credit are extended to December 31, 2020.
- Book Publishing Tax Credit is extended to December 31,
- Interactive Digital Media Tax Credit is extended to
December 31, 2019.
Personal Tax Measures
- The Tuition Fee Income Tax
Rebate is being phased out commencing in 2017, and is fully eliminated for
the 2018 tax year. Any unclaimed rebate credits will lapse.
- The Political
Contributions Tax Credit is enhanced for 2018 and later years, by
increasing the maximum eligible contribution from $1,275 to $2,325, which
increases the total available annual credit from $650 to $1,000.
Business Tax Measures
- Corporations with less than $5,000 in tax payable in a
fiscal year will no longer have to file an annual instalment for Corporation
Capital Tax, but will remit the tax when filing their annual Corporation Capital
- Research and Development Tax Credit is reduced from
20% to 15% for eligible expenditures made after Apr 11, 2017.
- For property acquired after April 11, 2017, the
non-refundable portion of the Manufacturing Investment Tax Credit (MITC)
is reduced from 2% to 1%.
- Starting with the 2017 tax year, Crown corporations and
other provincial government entities are no longer eligible for the Paid Work
Experience Tax Credit.
- The Co-operative Development Tax Credit is
eliminated for contributions made after April 11, 2017.
- The Odour Control Tax Credit is eliminated for
expenditures made after April 11, 2017.
- The Riparian Tax Credit is eliminated effective
immediately, but this does not impact eligibility for unused credits on 5 year
commitments made before April 12, 2017 by farm operators and livestock producers
to protect a strip along a waterway on agricultural land.
- The Neighbourhoods Alive! Tax Credit is eliminated
effective immediately. There have been no claimants since the inception of
the credit in 2011.
- The Data Processing Investment Tax Credits are
eliminated effective immediately. This does not impact credits earned but
unused and eligible to be carried forward by corporations or partnerships for
qualified property purchased or leased before April 12, 2017.
- The Nutrient Management Tax Credit is eliminated for
expenditures made after April 11, 2017, but this does not impact the carry
forward of unused credits for expenditures made prior to April 12, 2017.