The Feb. 26, 2008 and Jan. 27, 2009 federal budgets tabled by the Conservative government introduced numerous income tax changes. Some of the announcements in the 2008 budget have been signed into law and others are still making their way through the parliamentary process.

Legislation to implement tax measures outlined in the 2009 budget, such as increasing the basic personal amount that Canadians can earn tax-free and the upper limits for the two lowest personal income tax brackets by 7.5 per cent above their 2008 amounts, increasing by $1,000 the amount on which the Age Credit is calculated, increasing to $25,000 the maximum amount eligible for withdrawal from a Reg­is­tered Retirement Savings Plan under the Home Buyers’ Plan, extending, for a two-year period, all regular Employment Insurance benefit entitlements by five extra weeks and increasing the maximum benefit duration to 50 weeks from 45 weeks, and maintaining the EI rate for 2010 at $1.73 per $100 of insurable earnings, was introduced in the House of Commons Feb. 6. Legislation to implement other tax measures set forth in Budget 2009, including the Home Renovation Tax Credit, will form part of a bill to be introduced later this year.

Taxpayers can get detailed infor­mation to assist with filing this year’s return from CAUT’s tax guide available free online at www.caut.ca/pages.asp?page=226, or a copy can be obtained by calling 613-820-2270.