CRA has published a document called “What’s new for this tax-filing season?” to illustrate some of the changes for the 2014 tax season. You can learn more and read the full text HERE. Some of the more notable changes include:
- The increase of the children’s fitness amount to $1,000
- The new Family Tax Cut credit of up to $2,000
- An increase to the existing Universal Child Care Benefit (UCCB) to $160 per month and a new $60 amount for kids aged 6 to 17
- An increase in the allowance for adoption expenses to $15,000
- Changes to the search and rescue volunteer amount, emergency services volunteers, certain medical expenses and info about CRA’s push to move to electronic services and direct deposit of refunds.