(19) The federal government provides an arts tax credit for eligible amounts up to $500 per
year per child. The credit is available for fees paid for the enrolment of a child under the age
of 16 at the beginning of the year in an eligible program of artistic, cultural, recreational
or developmental activities. If the child is eligible for the disability tax credit, the age limit
increases to under the age of 18 and the credit may be claimed on an additional $500
when a minimum of $100 is paid on eligible expenses.
Manitoba provides a children’s arts and cultural activity tax credit for eligible amounts up
to $500 per year per child. The credit is available for fees paid for the enrolment of a child
under 16 years old at the beginning of the year in an eligible program of organized and
supervised arts and cultural activities. If the child is eligible for the disability tax credit
and is under 18 years old at the beginning of the year, the credit may be claimed on an
additional $500 disability supplement amount when a minimum of $100 is paid on eligible
expenses.
The 2012 British Columbia budget introduced a children’s arts credit effective for 2012 and
later years. This non-refundable tax credit of up to $500 (or $1,000 for an individual eligible
for the disability tax credit) will mirror the federal qualifications.
(20) First-time home buyers who acquire a qualifying home during the year may be entitled
to claim a federal non-refundable tax credit up to $5,000 and worth up to $750 ($5,000 ×
15%).
To qualify, neither the individual nor his or her spouse or common-law partner can have
owned and lived in another home in the calendar year of the new home purchase or in any
of the four preceding calendar years. The credit can be claimed by either the purchaser or
by his or her spouse or common-law partner.
The credit will also be available for certain home purchases by or for the benefit of an
individual eligible for the disability tax credit.
Saskatchewan’s First-Time Home Buyers Tax Credit provides a non-refundable income tax
credit of up to $1,100 (11% x $10,000) to eligible taxpayers. There are also provisions to
allow persons with a disability to qualify for the purchase of more accessible homes, with
eligibility rules similar to those for the existing federal incentive for first-time home buyers.
The credit generally applies to qualifying homes acquired after December 31, 2011.
British Columbia’s First-Time New Home Buyers Bonus is effective from February 21, 2012
to March 31, 2013. The bonus is a refundable credit equal to 5% of the purchase price of a
newly constructed home, up to a maximum of $10,000. The credit is phased out at a rate
of 20% of net income in excess of $150,000 for single individuals and at a rate of 10%
of family income in excess of $150,000 for couples. Only one credit can be claimed per
home.
Federal and Provincial Non-Refundable Tax Credit Rates and Amounts for 2013 / 11
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Current as of September 30, 2013