News & Blog

Some Changes That Could Affect Your 2017 Tax Return

2017 is over, and we have entered a new year with new tax rules, carbon tax, etc. etc. The changes never end! Several of these key changes have taken center stage and should leave many of you wondering what can happen in years to come.

First, it’s important to be aware of these changes. Second, understand how they might impact you and then, start planning ahead. KBH has multiple resources for you to use, or you can contact us directly for your more specific question(s).

Here’s a few things you should be aware of:

  1. A New Canada Caregiver Amount:

    The Canada caregiver amount has replaced the Family Caregiver Amount, the amount for infirm dependents age 18 or older, and the caregiver amount.

    If you are the caregiver of infirm dependents, you may be entitled to claim an amount of $2,150 due to certain credits, such as eligible dependent and the spousal amount. You could also claim an amount up to a maximum of $6,883 depending on the income of said infirm dependent.

  2. Federal Education and Textbook Amounts have been Eliminated:

    Originally, these amounts gave additional credits to students attending a post-secondary school based on the number of months they were enrolled in full-time or part-time study. 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.

  3. Federal Children’s Fitness and Arts Amounts have been Eliminated: 

    This allowed you to claim fees paid for signing up your 15 years and under children for fitness and arts programs. In 2016, the maximum amounts you could have claimed were reduced; for 2017 they have been eliminated.

  4. Federal Public Transit Amount has been Eliminated:

    You can claim the bus/subway passes you bought up until June 30, 2017; however, any fees paid as of July 1, 2017, are not eligible.

  5. Medical Expenses:

    Those who need medical intervention to conceive a child are eligible to claim the same expenses as individuals with medical infertility.
  6. Disability Tax Credit Certification:

    Nurse practitioners are now on the list of medical practitioners who may certify eligibility of a person for the disability tax credit beginning March 22, 2017.