FEDERAL BUDGET SUMMARY – 2017
CONSOLIDATION OF CAREGIVER CREDITS
Budget 2017 proposes to consolidate non-refundable tax credits available to
caregivers into a single credit: the Canada Caregiver Amount.
The current system consists of three separate credits: the Infirm Dependant
Credit, the Caregiver Credit and the Family Caregiver Tax Credit. These credits
have varying eligibility conditions, and offer different levels of incentives which
can be difficult for taxpayers to navigate.
The new, non-refundable Canada Caregiver Amount will provide the following
• $6,883 in respect of infirm dependants who are parents, grandparents,
siblings, aunts / uncles, nieces / nephews or adult children of the claimant
or of the claimant’s spouse or common law partner.
• $2,150 in respect of:
o An infirm dependent spouse or common-law partner in respect of
whom the individual claims the spouse or common-law partner
o An infirm dependant for whom the individual claims an eligible
dependant credit; or
o An infirm child who is under the age of 18 years at the end of the
The Canada Caregiver Credit will be reduced dollar-for-dollar by the dependant’s
net income above $16,163.
MINERAL EXPLORATION TAX CREDIT FOR FLOW-THROUGH SHARE INVESTORS
Flow-through shares allow resource companies to renounce or “flow” tax
expenses associated with their qualifying Canadian exploration activities to
investors. The mineral exploration tax credit provides an additional tax benefit
equal to 15% of specified mineral exploration expenses incurred in Canada and
renounced to flow-through share investors. Budget 2017 proposes to extend the
eligibility for this tax credit for one year to include flow-through share agreements
entered into on or before March 31, 2018, as long as the funds raised are spent on
eligible activities by the end of 2019.
TUITION TAX CREDIT
The tuition tax credit is a non-refundable tax credit available to taxpayers for
eligible fees paid for tuition and licensing examinations with respect to individuals
enrolled at an eligible educational institution, such as a university, college or other
institution offering courses at a post-secondary level.
Budget 2017 proposes to extend the eligibility for the tuition tax credit to include
fees paid for occupational skills courses. This will include fees paid to a university,
college or other post-secondary institution for occupational skills courses that are
not at the post-secondary level. In order to be eligible, the course has to be taken