What's new for 2013
List of major changes
We list the major changes below, including income tax changes that have been announced but have not become law at this time. If they become law as proposed, they will be effective for 2013 or as of the dates indicated.
Pooled registered pension plan (PRPP)
Enter on line 130 amounts (grants) paid to you as a result of taking time away from work to cope with the death or disappearance of your child because of an offence or probable offence under the Criminal Code.
For adoptions finalized in 2013 and subsequent years, the adoption period has been extended. For more information, see line 313.
Donations and gifts
Investment tax credit
Eligibility for the mineral exploration tax credit has been extended to flow-through share agreements entered into before April 1, 2014. For more information about investment tax credits, see line 412.
Tax related to the non-purchase of replacement shares in a Quebec labour-sponsored fund
You may have to pay a special tax if you redeemed your shares from a Quebec labour-sponsored fund to participate in the Home Buyers’ Plan (HBP) or the Lifelong Learning Plan (LLP), but did not purchase replacement shares within the prescribed time. For more information, see line 418.
Overseas employment tax credit
From 2013 to 2016, the overseas employment tax credit will be phased out. It will be eliminated for 2016 and subsequent years. For more information, see Form T626, Overseas Employment Tax Credit.
Under certain circumstances, the reassessment period for a return has been extended. For more information, see foreign property.
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