diff --git a/changelog.d/federal-2024-2025-params.added.md b/changelog.d/federal-2024-2025-params.added.md new file mode 100644 index 000000000..52da01c21 --- /dev/null +++ b/changelog.d/federal-2024-2025-params.added.md @@ -0,0 +1 @@ +Updated all federal CRA parameters through 2025: income tax brackets and rates (including 14.5% lowest bracket for 2025, 14% for 2026), Basic Personal Amount, Age Amount credit, Canada Employment Amount, Disability Tax Credit, Canada Child Benefit, Child Disability Benefit, Canada Workers Benefit, GST/HST credit, Old Age Security pension and clawback thresholds, Climate Action Incentive amounts for 2023-24 and 2024-25 (including new provinces NB, NL, NS, PE and rural supplement increase to 20%), and Canada Training Credit income thresholds. diff --git a/policyengine_canada/parameters/gov/cra/benefits/ccb/base.yaml b/policyengine_canada/parameters/gov/cra/benefits/ccb/base.yaml index 11d66f936..feb528818 100644 --- a/policyengine_canada/parameters/gov/cra/benefits/ccb/base.yaml +++ b/policyengine_canada/parameters/gov/cra/benefits/ccb/base.yaml @@ -2,10 +2,16 @@ description: Canada Child Benefit amount by child age. brackets: - amount: 2022-07-01: 6_997 + 2023-07-01: 7_437 + 2024-07-01: 7_787 + 2025-07-01: 7_997 threshold: 2022-07-01: 0 - amount: 2022-07-01: 5_903 + 2023-07-01: 6_275 + 2024-07-01: 6_570 + 2025-07-01: 6_748 threshold: 2022-07-01: 6 - amount: @@ -22,3 +28,11 @@ metadata: reference: - title: Government of Canada - Canada Child Benefit href: https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/t4114/canada-child-benefit.html + - title: CRA CCB amounts for July 2022 - June 2023 benefit year (max under 6 = $6,997, max 6-17 = $5,903) + href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit-overview/canada-child-benefit-ccb-calculation-sheet-july-2022-june-2023-payments-2021-tax-year.html + - title: CRA CCB amounts for July 2023 - June 2024 benefit year (max under 6 = $7,437, max 6-17 = $6,275) + href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit-overview/canada-child-benefit-ccb-calculation-sheet-july-2023-june-2024-payments-2022-tax-year.html + - title: CRA CCB amounts for July 2024 - June 2025 benefit year (max under 6 = $7,787, max 6-17 = $6,570) + href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit/canada-child-benefit-ccb-calculation-sheet-july-2024-june-2025-payments-2023-tax-year.html + - title: CRA CCB amounts for July 2025 - June 2026 benefit year (max under 6 = $7,997, max 6-17 = $6,748) + href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit/canada-child-benefit-ccb-calculation-sheet-july-2025-june-2026-payments-2024-tax-year.html diff --git a/policyengine_canada/parameters/gov/cra/benefits/ccb/divisor.yaml b/policyengine_canada/parameters/gov/cra/benefits/ccb/divisor.yaml index 2f2bace60..d44eb5dff 100644 --- a/policyengine_canada/parameters/gov/cra/benefits/ccb/divisor.yaml +++ b/policyengine_canada/parameters/gov/cra/benefits/ccb/divisor.yaml @@ -7,3 +7,5 @@ metadata: reference: - title: Government of Canada - Canada Child Benefit href: https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/t4114/canada-child-benefit.html + - title: CRA CCB calculation page (shared custody divisor = 2) + href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit/canada-child-benefit-ccb-calculation-sheet-july-2024-june-2025-payments-2023-tax-year.html diff --git a/policyengine_canada/parameters/gov/cra/benefits/ccb/reduction/four_or_more_children.yaml b/policyengine_canada/parameters/gov/cra/benefits/ccb/reduction/four_or_more_children.yaml index 02fc51d30..7899b6dd1 100644 --- a/policyengine_canada/parameters/gov/cra/benefits/ccb/reduction/four_or_more_children.yaml +++ b/policyengine_canada/parameters/gov/cra/benefits/ccb/reduction/four_or_more_children.yaml @@ -9,12 +9,18 @@ brackets: - threshold: values: 2022-07-01: 32_797 + 2023-07-01: 34_863 + 2024-07-01: 36_502 + 2025-07-01: 37_487 rate: values: 2022-07-01: 0.23 - threshold: values: 2022-07-01: 71_060 + 2023-07-01: 75_537 + 2024-07-01: 79_087 + 2025-07-01: 81_222 rate: values: 2022-07-01: 0.095 @@ -29,3 +35,11 @@ metadata: reference: - title: Government of Canada - Canada Child Benefit href: https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/t4114/canada-child-benefit.html + - title: CRA CCB reduction (4+ children) for July 2022 - June 2023 benefit year (thresholds - $32,797 / $71,060, rates - 23% / 9.5%) + href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit-overview/canada-child-benefit-ccb-calculation-sheet-july-2022-june-2023-payments-2021-tax-year.html + - title: CRA CCB reduction (4+ children) for July 2023 - June 2024 benefit year (thresholds - $34,863 / $75,537, rates - 23% / 9.5%) + href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit-overview/canada-child-benefit-ccb-calculation-sheet-july-2023-june-2024-payments-2022-tax-year.html + - title: CRA CCB reduction (4+ children) for July 2024 - June 2025 benefit year (thresholds - $36,502 / $79,087, rates - 23% / 9.5%) + href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit/canada-child-benefit-ccb-calculation-sheet-july-2024-june-2025-payments-2023-tax-year.html + - title: CRA CCB reduction (4+ children) for July 2025 - June 2026 benefit year (thresholds - $37,487 / $81,222, rates - 23% / 9.5%) + href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit/canada-child-benefit-ccb-calculation-sheet-july-2025-june-2026-payments-2024-tax-year.html diff --git a/policyengine_canada/parameters/gov/cra/benefits/ccb/reduction/one_child.yaml b/policyengine_canada/parameters/gov/cra/benefits/ccb/reduction/one_child.yaml index c6ca224b4..b4809b3eb 100644 --- a/policyengine_canada/parameters/gov/cra/benefits/ccb/reduction/one_child.yaml +++ b/policyengine_canada/parameters/gov/cra/benefits/ccb/reduction/one_child.yaml @@ -9,12 +9,18 @@ brackets: - threshold: values: 2022-07-01: 32_797 + 2023-07-01: 34_863 + 2024-07-01: 36_502 + 2025-07-01: 37_487 rate: values: 2022-07-01: 0.07 - threshold: values: 2022-07-01: 71_060 + 2023-07-01: 75_537 + 2024-07-01: 79_087 + 2025-07-01: 81_222 rate: values: 2022-07-01: 0.032 @@ -29,3 +35,11 @@ metadata: reference: - title: Government of Canada - Canada Child Benefit href: https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/t4114/canada-child-benefit.html + - title: CRA CCB reduction (1 child) for July 2022 - June 2023 benefit year (thresholds - $32,797 / $71,060, rates - 7% / 3.2%) + href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit-overview/canada-child-benefit-ccb-calculation-sheet-july-2022-june-2023-payments-2021-tax-year.html + - title: CRA CCB reduction (1 child) for July 2023 - June 2024 benefit year (thresholds - $34,863 / $75,537, rates - 7% / 3.2%) + href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit-overview/canada-child-benefit-ccb-calculation-sheet-july-2023-june-2024-payments-2022-tax-year.html + - title: CRA CCB reduction (1 child) for July 2024 - June 2025 benefit year (thresholds - $36,502 / $79,087, rates - 7% / 3.2%) + href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit/canada-child-benefit-ccb-calculation-sheet-july-2024-june-2025-payments-2023-tax-year.html + - title: CRA CCB reduction (1 child) for July 2025 - June 2026 benefit year (thresholds - $37,487 / $81,222, rates - 7% / 3.2%) + href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit/canada-child-benefit-ccb-calculation-sheet-july-2025-june-2026-payments-2024-tax-year.html diff --git a/policyengine_canada/parameters/gov/cra/benefits/ccb/reduction/three_children.yaml b/policyengine_canada/parameters/gov/cra/benefits/ccb/reduction/three_children.yaml index 0ef432840..9e08cd99c 100644 --- a/policyengine_canada/parameters/gov/cra/benefits/ccb/reduction/three_children.yaml +++ b/policyengine_canada/parameters/gov/cra/benefits/ccb/reduction/three_children.yaml @@ -9,15 +9,21 @@ brackets: - threshold: values: 2022-07-01: 32_797 + 2023-07-01: 34_863 + 2024-07-01: 36_502 + 2025-07-01: 37_487 rate: values: 2022-07-01: 0.19 - threshold: values: 2022-07-01: 71_060 + 2023-07-01: 75_537 + 2024-07-01: 79_087 + 2025-07-01: 81_222 rate: values: - 2022-02-01: 0.08 + 2022-07-01: 0.08 metadata: type: marginal_rate @@ -28,3 +34,11 @@ metadata: reference: - title: Government of Canada - Canada Child Benefit href: https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/t4114/canada-child-benefit.html + - title: CRA CCB reduction (3 children) for July 2022 - June 2023 benefit year (thresholds - $32,797 / $71,060, rates - 19% / 8%) + href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit-overview/canada-child-benefit-ccb-calculation-sheet-july-2022-june-2023-payments-2021-tax-year.html + - title: CRA CCB reduction (3 children) for July 2023 - June 2024 benefit year (thresholds - $34,863 / $75,537, rates - 19% / 8%) + href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit-overview/canada-child-benefit-ccb-calculation-sheet-july-2023-june-2024-payments-2022-tax-year.html + - title: CRA CCB reduction (3 children) for July 2024 - June 2025 benefit year (thresholds - $36,502 / $79,087, rates - 19% / 8%) + href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit/canada-child-benefit-ccb-calculation-sheet-july-2024-june-2025-payments-2023-tax-year.html + - title: CRA CCB reduction (3 children) for July 2025 - June 2026 benefit year (thresholds - $37,487 / $81,222, rates - 19% / 8%) + href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit/canada-child-benefit-ccb-calculation-sheet-july-2025-june-2026-payments-2024-tax-year.html diff --git a/policyengine_canada/parameters/gov/cra/benefits/ccb/reduction/two_children.yaml b/policyengine_canada/parameters/gov/cra/benefits/ccb/reduction/two_children.yaml index 1ece8bf8b..9cd5419cd 100644 --- a/policyengine_canada/parameters/gov/cra/benefits/ccb/reduction/two_children.yaml +++ b/policyengine_canada/parameters/gov/cra/benefits/ccb/reduction/two_children.yaml @@ -9,12 +9,18 @@ brackets: - threshold: values: 2022-07-01: 32_797 + 2023-07-01: 34_863 + 2024-07-01: 36_502 + 2025-07-01: 37_487 rate: values: 2022-07-01: 0.135 - threshold: values: 2022-07-01: 71_060 + 2023-07-01: 75_537 + 2024-07-01: 79_087 + 2025-07-01: 81_222 rate: values: 2022-07-01: 0.057 @@ -29,3 +35,11 @@ metadata: reference: - title: Government of Canada - Canada Child Benefit href: https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/t4114/canada-child-benefit.html + - title: CRA CCB reduction (2 children) for July 2022 - June 2023 benefit year (thresholds - $32,797 / $71,060, rates - 13.5% / 5.7%) + href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit-overview/canada-child-benefit-ccb-calculation-sheet-july-2022-june-2023-payments-2021-tax-year.html + - title: CRA CCB reduction (2 children) for July 2023 - June 2024 benefit year (thresholds - $34,863 / $75,537, rates - 13.5% / 5.7%) + href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit-overview/canada-child-benefit-ccb-calculation-sheet-july-2023-june-2024-payments-2022-tax-year.html + - title: CRA CCB reduction (2 children) for July 2024 - June 2025 benefit year (thresholds - $36,502 / $79,087, rates - 13.5% / 5.7%) + href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit/canada-child-benefit-ccb-calculation-sheet-july-2024-june-2025-payments-2023-tax-year.html + - title: CRA CCB reduction (2 children) for July 2025 - June 2026 benefit year (thresholds - $37,487 / $81,222, rates - 13.5% / 5.7%) + href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit/canada-child-benefit-ccb-calculation-sheet-july-2025-june-2026-payments-2024-tax-year.html diff --git a/policyengine_canada/parameters/gov/cra/benefits/cdb/base.yaml b/policyengine_canada/parameters/gov/cra/benefits/cdb/base.yaml index 52a27abbd..8c68320ef 100644 --- a/policyengine_canada/parameters/gov/cra/benefits/cdb/base.yaml +++ b/policyengine_canada/parameters/gov/cra/benefits/cdb/base.yaml @@ -1,6 +1,10 @@ description: Maximum amount that can be received per eligible child under the canada child disability benefit. values: 2021-01-01: 2_985 + 2022-07-01: 2_985 + 2023-07-01: 3_173 + 2024-07-01: 3_322 + 2025-07-01: 3_411 metadata: unit: currency-CAD period: year @@ -9,3 +13,13 @@ metadata: reference: - title: Government of Canada - Child disability benefit (CDB) href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/child-disability-benefit.html + - title: CRA CDB amounts for January 2021 - June 2022 benefit year (max = $2,985 per eligible child) + href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit/canada-child-benefit-ccb-payment-amounts.html + - title: CRA CDB amounts for July 2022 - June 2023 benefit year (max = $2,985 per eligible child) + href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit-overview/canada-child-benefit-ccb-calculation-sheet-july-2022-june-2023-payments-2021-tax-year.html + - title: CRA CDB amounts for July 2023 - June 2024 benefit year (max = $3,173 per eligible child) + href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit-overview/canada-child-benefit-ccb-calculation-sheet-july-2023-june-2024-payments-2022-tax-year.html + - title: CRA CDB amounts for July 2024 - June 2025 benefit year (max = $3,322 per eligible child) + href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit/canada-child-benefit-ccb-calculation-sheet-july-2024-june-2025-payments-2023-tax-year.html + - title: CRA CDB amounts for July 2025 - June 2026 benefit year (max = $3,411 per eligible child) + href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit/canada-child-benefit-ccb-calculation-sheet-july-2025-june-2026-payments-2024-tax-year.html diff --git a/policyengine_canada/parameters/gov/cra/benefits/cdb/reduction/one_child.yaml b/policyengine_canada/parameters/gov/cra/benefits/cdb/reduction/one_child.yaml index 3a9864e57..4ad59f73e 100644 --- a/policyengine_canada/parameters/gov/cra/benefits/cdb/reduction/one_child.yaml +++ b/policyengine_canada/parameters/gov/cra/benefits/cdb/reduction/one_child.yaml @@ -9,6 +9,9 @@ brackets: - threshold: values: 2021-01-01: 71_060 + 2023-07-01: 75_537 + 2024-07-01: 79_087 + 2025-07-01: 81_222 rate: values: 2021-01-01: 0.032 @@ -23,3 +26,11 @@ metadata: reference: - title: Government of Canada - Child disability benefit (CDB) href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/child-disability-benefit.html + - title: CRA CDB reduction (1 child) for January 2021 - June 2023 benefit year (threshold - $71,060, rate - 3.2%) + href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit/canada-child-benefit-ccb-payment-amounts.html + - title: CRA CDB reduction (1 child) for July 2023 - June 2024 benefit year (threshold - $75,537, rate - 3.2%) + href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit-overview/canada-child-benefit-ccb-calculation-sheet-july-2023-june-2024-payments-2022-tax-year.html + - title: CRA CDB reduction (1 child) for July 2024 - June 2025 benefit year (threshold - $79,087, rate - 3.2%) + href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit/canada-child-benefit-ccb-calculation-sheet-july-2024-june-2025-payments-2023-tax-year.html + - title: CRA CDB reduction (1 child) for July 2025 - June 2026 benefit year (threshold - $81,222, rate - 3.2%) + href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit/canada-child-benefit-ccb-calculation-sheet-july-2025-june-2026-payments-2024-tax-year.html diff --git a/policyengine_canada/parameters/gov/cra/benefits/cdb/reduction/two_or_more_children.yaml b/policyengine_canada/parameters/gov/cra/benefits/cdb/reduction/two_or_more_children.yaml index 9eb17134b..5255b16a7 100644 --- a/policyengine_canada/parameters/gov/cra/benefits/cdb/reduction/two_or_more_children.yaml +++ b/policyengine_canada/parameters/gov/cra/benefits/cdb/reduction/two_or_more_children.yaml @@ -9,6 +9,9 @@ brackets: - threshold: values: 2021-01-01: 71_060 + 2023-07-01: 75_537 + 2024-07-01: 79_087 + 2025-07-01: 81_222 rate: values: 2021-01-01: 0.057 @@ -23,3 +26,11 @@ metadata: reference: - title: Government of Canada - Child disability benefit (CDB) href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/child-disability-benefit.html + - title: CRA CDB reduction (2+ children) for January 2021 - June 2023 benefit year (threshold - $71,060, rate - 5.7%) + href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit/canada-child-benefit-ccb-payment-amounts.html + - title: CRA CDB reduction (2+ children) for July 2023 - June 2024 benefit year (threshold - $75,537, rate - 5.7%) + href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit-overview/canada-child-benefit-ccb-calculation-sheet-july-2023-june-2024-payments-2022-tax-year.html + - title: CRA CDB reduction (2+ children) for July 2024 - June 2025 benefit year (threshold - $79,087, rate - 5.7%) + href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit/canada-child-benefit-ccb-calculation-sheet-july-2024-june-2025-payments-2023-tax-year.html + - title: CRA CDB reduction (2+ children) for July 2025 - June 2026 benefit year (threshold - $81,222, rate - 5.7%) + href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit/canada-child-benefit-ccb-calculation-sheet-july-2025-june-2026-payments-2024-tax-year.html diff --git a/policyengine_canada/parameters/gov/cra/benefits/cwb/amount/disability_supplement.yaml b/policyengine_canada/parameters/gov/cra/benefits/cwb/amount/disability_supplement.yaml index 10aaeb643..88b581fee 100644 --- a/policyengine_canada/parameters/gov/cra/benefits/cwb/amount/disability_supplement.yaml +++ b/policyengine_canada/parameters/gov/cra/benefits/cwb/amount/disability_supplement.yaml @@ -1,11 +1,14 @@ description: The maximum supplement amount allowed under the canada workers benefit. values: 2022-12-31: 720 + 2023-12-31: 784 + 2024-12-31: 821 + 2025-12-31: 843 metadata: unit: currency-CAD period: year name: canada_workers_benefit_supplement_amount - label: Canada workers benefit supplement amount + label: Canada workers benefit supplement amount reference: - title: Government of Canada - Canada workers benefit href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-workers-benefit.html @@ -13,3 +16,11 @@ metadata: href: https://www.canada.ca/en/revenue-agency/programs/about-canada-revenue-agency-cra/federal-government-budgets/budget-2021-recovery-plan-for-jobs-growth-resilience/canada-workers-benefit-qa.html - title: Income Tax Act (Part I)(Division E)(Subdivision A.2)(1.3)(3)(a) href: https://laws-lois.justice.gc.ca/eng/acts/I-3.3/page-96.html#h-299725 + - title: CRA CWB amounts for 2022 tax year (disability supplement = $720) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5007-tc/5007-tc-22e.pdf + - title: CRA CWB amounts for 2023 tax year (disability supplement = $784) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5007-tc/5007-tc-23e.pdf + - title: CRA CWB amounts for 2024 tax year (disability supplement = $821) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5007-tc/5007-tc-24e.pdf + - title: CRA CWB amounts for 2025 tax year (disability supplement = $843) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5007-tc/5007-tc-25e.pdf diff --git a/policyengine_canada/parameters/gov/cra/benefits/cwb/amount/family.yaml b/policyengine_canada/parameters/gov/cra/benefits/cwb/amount/family.yaml index 58ca1c1af..7b73bf56c 100644 --- a/policyengine_canada/parameters/gov/cra/benefits/cwb/amount/family.yaml +++ b/policyengine_canada/parameters/gov/cra/benefits/cwb/amount/family.yaml @@ -1,6 +1,9 @@ description: The maximum base amount allowed for families under the canada workers benefit. values: 2022-12-31: 2_403 + 2023-12-31: 2_616 + 2024-12-31: 2_739 + 2025-12-31: 2_813 metadata: unit: currency-CAD period: year @@ -13,3 +16,11 @@ metadata: href: https://www.canada.ca/en/revenue-agency/programs/about-canada-revenue-agency-cra/federal-government-budgets/budget-2021-recovery-plan-for-jobs-growth-resilience/canada-workers-benefit-qa.html - title: Income Tax Act (Part I)(Division E)(Subdivision A.2)(1.3)(2)(A)(b) href: https://laws-lois.justice.gc.ca/eng/acts/I-3.3/page-96.html#h-299725 + - title: CRA CWB amounts for 2022 tax year (max family = $2,403) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5007-tc/5007-tc-22e.pdf + - title: CRA CWB amounts for 2023 tax year (max family = $2,616) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5007-tc/5007-tc-23e.pdf + - title: CRA CWB amounts for 2024 tax year (max family = $2,739) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5007-tc/5007-tc-24e.pdf + - title: CRA CWB amounts for 2025 tax year (max family = $2,813) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5007-tc/5007-tc-25e.pdf diff --git a/policyengine_canada/parameters/gov/cra/benefits/cwb/amount/single.yaml b/policyengine_canada/parameters/gov/cra/benefits/cwb/amount/single.yaml index 8a89201cc..a1ac4c79d 100644 --- a/policyengine_canada/parameters/gov/cra/benefits/cwb/amount/single.yaml +++ b/policyengine_canada/parameters/gov/cra/benefits/cwb/amount/single.yaml @@ -1,6 +1,9 @@ description: The maximum base amount allowed for single filers under the canada workers benefit. values: 2022-12-31: 1_395 + 2023-12-31: 1_518 + 2024-12-31: 1_590 + 2025-12-31: 1_633 metadata: unit: currency-CAD period: year @@ -13,3 +16,11 @@ metadata: href: https://www.canada.ca/en/revenue-agency/programs/about-canada-revenue-agency-cra/federal-government-budgets/budget-2021-recovery-plan-for-jobs-growth-resilience/canada-workers-benefit-qa.html - title: Income Tax Act (Part I)(Division E)(Subdivision A.2)(1.3)(2)(A)(a) href: https://laws-lois.justice.gc.ca/eng/acts/I-3.3/page-96.html#h-299725 + - title: CRA CWB amounts for 2022 tax year (max single = $1,395) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5007-tc/5007-tc-22e.pdf + - title: CRA CWB amounts for 2023 tax year (max single = $1,518) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5007-tc/5007-tc-23e.pdf + - title: CRA CWB amounts for 2024 tax year (max single = $1,590) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5007-tc/5007-tc-24e.pdf + - title: CRA CWB amounts for 2025 tax year (max single = $1,633) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5007-tc/5007-tc-25e.pdf diff --git a/policyengine_canada/parameters/gov/cra/benefits/cwb/eligible_age.yaml b/policyengine_canada/parameters/gov/cra/benefits/cwb/eligible_age.yaml index b0aa1a794..c5df81a2b 100644 --- a/policyengine_canada/parameters/gov/cra/benefits/cwb/eligible_age.yaml +++ b/policyengine_canada/parameters/gov/cra/benefits/cwb/eligible_age.yaml @@ -12,3 +12,5 @@ metadata: href: https://www.canada.ca/en/revenue-agency/programs/about-canada-revenue-agency-cra/federal-government-budgets/budget-2021-recovery-plan-for-jobs-growth-resilience/canada-workers-benefit-qa.html - title: Income Tax Act (A.2)(122.7)(1) - Definition of eligible individual (a) href: https://laws-lois.justice.gc.ca/eng/acts/I-3.3/page-96.html#h-299725 + - title: CRA CWB eligibility - must be 19 years of age or older on December 31 of the tax year + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5007-tc/5007-tc-24e.pdf diff --git a/policyengine_canada/parameters/gov/cra/benefits/cwb/phase_in/base/family.yaml b/policyengine_canada/parameters/gov/cra/benefits/cwb/phase_in/base/family.yaml index 33906b374..0792617db 100644 --- a/policyengine_canada/parameters/gov/cra/benefits/cwb/phase_in/base/family.yaml +++ b/policyengine_canada/parameters/gov/cra/benefits/cwb/phase_in/base/family.yaml @@ -15,6 +15,9 @@ brackets: - threshold: values: 2022-12-31: 26_177 + 2023-12-31: 28_494 + 2024-12-31: 29_833 + 2025-12-31: 30_639 rate: values: 2022-12-31: 0 @@ -32,3 +35,11 @@ metadata: href: https://www.canada.ca/en/revenue-agency/programs/about-canada-revenue-agency-cra/federal-government-budgets/budget-2021-recovery-plan-for-jobs-growth-resilience/canada-workers-benefit-qa.html - title: Income Tax Act (Part I)(Division E)(Subdivision A.2)(1.3)(2)(A)(b) href: https://laws-lois.justice.gc.ca/eng/acts/I-3.3/page-96.html#h-299725 + - title: CRA CWB phase-in for 2022 tax year (family threshold = $26,177, rate = 27%) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5007-tc/5007-tc-22e.pdf + - title: CRA CWB phase-in for 2023 tax year (family threshold = $28,494, rate = 27%) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5007-tc/5007-tc-23e.pdf + - title: CRA CWB phase-in for 2024 tax year (family threshold = $29,833, rate = 27%) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5007-tc/5007-tc-24e.pdf + - title: CRA CWB phase-in for 2025 tax year (family threshold = $30,639, rate = 27%) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5007-tc/5007-tc-25e.pdf diff --git a/policyengine_canada/parameters/gov/cra/benefits/cwb/phase_in/base/single.yaml b/policyengine_canada/parameters/gov/cra/benefits/cwb/phase_in/base/single.yaml index 5175fe7fe..e8f4942e3 100644 --- a/policyengine_canada/parameters/gov/cra/benefits/cwb/phase_in/base/single.yaml +++ b/policyengine_canada/parameters/gov/cra/benefits/cwb/phase_in/base/single.yaml @@ -15,6 +15,9 @@ brackets: - threshold: values: 2022-12-31: 22_944 + 2023-12-31: 24_975 + 2024-12-31: 26_149 + 2025-12-31: 26_855 rate: values: 2022-12-31: 0 @@ -32,3 +35,11 @@ metadata: href: https://www.canada.ca/en/revenue-agency/programs/about-canada-revenue-agency-cra/federal-government-budgets/budget-2021-recovery-plan-for-jobs-growth-resilience/canada-workers-benefit-qa.html - title: Income Tax Act (Part I)(Division E)(Subdivision A.2)(1.3)(2)(A)(a) href: https://laws-lois.justice.gc.ca/eng/acts/I-3.3/page-96.html#h-299725 + - title: CRA CWB phase-in for 2022 tax year (single threshold = $22,944, rate = 27%) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5007-tc/5007-tc-22e.pdf + - title: CRA CWB phase-in for 2023 tax year (single threshold = $24,975, rate = 27%) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5007-tc/5007-tc-23e.pdf + - title: CRA CWB phase-in for 2024 tax year (single threshold = $26,149, rate = 27%) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5007-tc/5007-tc-24e.pdf + - title: CRA CWB phase-in for 2025 tax year (single threshold = $26,855, rate = 27%) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5007-tc/5007-tc-25e.pdf diff --git a/policyengine_canada/parameters/gov/cra/benefits/cwb/phase_in/disability_supplement.yaml b/policyengine_canada/parameters/gov/cra/benefits/cwb/phase_in/disability_supplement.yaml index 4377ca2d0..8fa5667ab 100644 --- a/policyengine_canada/parameters/gov/cra/benefits/cwb/phase_in/disability_supplement.yaml +++ b/policyengine_canada/parameters/gov/cra/benefits/cwb/phase_in/disability_supplement.yaml @@ -15,6 +15,9 @@ brackets: - threshold: values: 2022-12-31: 32_244 + 2023-12-31: 35_098 + 2024-12-31: 36_748 + 2025-12-31: 37_740 rate: values: 2022-12-31: 0 @@ -32,3 +35,11 @@ metadata: href: https://www.canada.ca/en/revenue-agency/programs/about-canada-revenue-agency-cra/federal-government-budgets/budget-2021-recovery-plan-for-jobs-growth-resilience/canada-workers-benefit-qa.html - title: Income Tax Act (Part I)(Division E)(Subdivision A.2)(1.3)(3)(c) href: https://laws-lois.justice.gc.ca/eng/acts/I-3.3/page-96.html#h-299725 + - title: CRA CWB disability supplement phase-in for 2022 tax year (threshold = $32,244, rate = 27%) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5007-tc/5007-tc-22e.pdf + - title: CRA CWB disability supplement phase-in for 2023 tax year (threshold = $35,098, rate = 27%) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5007-tc/5007-tc-23e.pdf + - title: CRA CWB disability supplement phase-in for 2024 tax year (threshold = $36,748, rate = 27%) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5007-tc/5007-tc-24e.pdf + - title: CRA CWB disability supplement phase-in for 2025 tax year (threshold = $37,740, rate = 27%) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5007-tc/5007-tc-25e.pdf diff --git a/policyengine_canada/parameters/gov/cra/benefits/cwb/phase_out/base/family.yaml b/policyengine_canada/parameters/gov/cra/benefits/cwb/phase_out/base/family.yaml index 90efecb1d..71e903790 100644 --- a/policyengine_canada/parameters/gov/cra/benefits/cwb/phase_out/base/family.yaml +++ b/policyengine_canada/parameters/gov/cra/benefits/cwb/phase_out/base/family.yaml @@ -9,6 +9,9 @@ brackets: - threshold: values: 2022-12-31: 26_177 + 2023-12-31: 28_494 + 2024-12-31: 29_833 + 2025-12-31: 30_639 rate: values: 2022-12-31: 0.15 @@ -26,3 +29,11 @@ metadata: href: https://www.canada.ca/en/revenue-agency/programs/about-canada-revenue-agency-cra/federal-government-budgets/budget-2021-recovery-plan-for-jobs-growth-resilience/canada-workers-benefit-qa.html - title: Income Tax Act (Part I)(Division E)(Subdivision A.2)(1.3)(2)(B)(b) href: https://laws-lois.justice.gc.ca/eng/acts/I-3.3/page-96.html#h-299725 + - title: CRA CWB phase-out for 2022 tax year (family threshold = $26,177, rate = 15%) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5007-tc/5007-tc-22e.pdf + - title: CRA CWB phase-out for 2023 tax year (family threshold = $28,494, rate = 15%) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5007-tc/5007-tc-23e.pdf + - title: CRA CWB phase-out for 2024 tax year (family threshold = $29,833, rate = 15%) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5007-tc/5007-tc-24e.pdf + - title: CRA CWB phase-out for 2025 tax year (family threshold = $30,639, rate = 15%) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5007-tc/5007-tc-25e.pdf diff --git a/policyengine_canada/parameters/gov/cra/benefits/cwb/phase_out/base/single.yaml b/policyengine_canada/parameters/gov/cra/benefits/cwb/phase_out/base/single.yaml index dd82c60f6..8dcff518b 100644 --- a/policyengine_canada/parameters/gov/cra/benefits/cwb/phase_out/base/single.yaml +++ b/policyengine_canada/parameters/gov/cra/benefits/cwb/phase_out/base/single.yaml @@ -9,6 +9,9 @@ brackets: - threshold: values: 2022-12-31: 22_944 + 2023-12-31: 24_975 + 2024-12-31: 26_149 + 2025-12-31: 26_855 rate: values: 2022-12-31: 0.15 @@ -28,3 +31,11 @@ metadata: href: https://www.canada.ca/en/revenue-agency/programs/about-canada-revenue-agency-cra/federal-government-budgets/budget-2021-recovery-plan-for-jobs-growth-resilience/canada-workers-benefit-qa.html - title: Income Tax Act (Part I)(Division E)(Subdivision A.2)(1.3)(2)(A)(a) href: https://laws-lois.justice.gc.ca/eng/acts/I-3.3/page-96.html#h-299725 + - title: CRA CWB phase-out for 2022 tax year (single threshold = $22,944, rate = 15%) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5007-tc/5007-tc-22e.pdf + - title: CRA CWB phase-out for 2023 tax year (single threshold = $24,975, rate = 15%) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5007-tc/5007-tc-23e.pdf + - title: CRA CWB phase-out for 2024 tax year (single threshold = $26,149, rate = 15%) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5007-tc/5007-tc-24e.pdf + - title: CRA CWB phase-out for 2025 tax year (single threshold = $26,855, rate = 15%) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5007-tc/5007-tc-25e.pdf diff --git a/policyengine_canada/parameters/gov/cra/benefits/cwb/phase_out/disability_supplement/family_with_one_spouse_disabled.yaml b/policyengine_canada/parameters/gov/cra/benefits/cwb/phase_out/disability_supplement/family_with_one_spouse_disabled.yaml index 0e3a9cf51..5e0170787 100644 --- a/policyengine_canada/parameters/gov/cra/benefits/cwb/phase_out/disability_supplement/family_with_one_spouse_disabled.yaml +++ b/policyengine_canada/parameters/gov/cra/benefits/cwb/phase_out/disability_supplement/family_with_one_spouse_disabled.yaml @@ -9,6 +9,9 @@ brackets: - threshold: values: 2022-12-31: 42_197 + 2023-12-31: 45_932 + 2024-12-31: 48_091 + 2025-12-31: 49_389 rate: values: 2022-12-31: 0.15 @@ -26,3 +29,11 @@ metadata: href: https://www.canada.ca/en/revenue-agency/programs/about-canada-revenue-agency-cra/federal-government-budgets/budget-2021-recovery-plan-for-jobs-growth-resilience/canada-workers-benefit-qa.html - title: Income Tax Act (Part I)(Division E)(Subdivision A.2)(1.3)(3)(b) href: https://laws-lois.justice.gc.ca/eng/acts/I-3.3/page-96.html#h-299725 + - title: CRA CWB disability supplement phase-out for 2022 tax year (family, one spouse disabled, threshold = $42,197, rate = 15%) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5007-tc/5007-tc-22e.pdf + - title: CRA CWB disability supplement phase-out for 2023 tax year (family, one spouse disabled, threshold = $45,932, rate = 15%) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5007-tc/5007-tc-23e.pdf + - title: CRA CWB disability supplement phase-out for 2024 tax year (family, one spouse disabled, threshold = $48,091, rate = 15%) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5007-tc/5007-tc-24e.pdf + - title: CRA CWB disability supplement phase-out for 2025 tax year (family, one spouse disabled, threshold = $49,389, rate = 15%) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5007-tc/5007-tc-25e.pdf diff --git a/policyengine_canada/parameters/gov/cra/benefits/cwb/phase_out/disability_supplement/family_with_two_spouses_disabled.yaml b/policyengine_canada/parameters/gov/cra/benefits/cwb/phase_out/disability_supplement/family_with_two_spouses_disabled.yaml index 1f5f91340..adc2356a3 100644 --- a/policyengine_canada/parameters/gov/cra/benefits/cwb/phase_out/disability_supplement/family_with_two_spouses_disabled.yaml +++ b/policyengine_canada/parameters/gov/cra/benefits/cwb/phase_out/disability_supplement/family_with_two_spouses_disabled.yaml @@ -9,6 +9,9 @@ brackets: - threshold: values: 2022-12-31: 42_197 + 2023-12-31: 45_932 + 2024-12-31: 48_091 + 2025-12-31: 49_389 rate: values: 2022-12-31: 0.075 @@ -26,3 +29,11 @@ metadata: href: https://www.canada.ca/en/revenue-agency/programs/about-canada-revenue-agency-cra/federal-government-budgets/budget-2021-recovery-plan-for-jobs-growth-resilience/canada-workers-benefit-qa.html - title: Income Tax Act (Part I)(Division E)(Subdivision A.2)(1.3)(3)(c) href: https://laws-lois.justice.gc.ca/eng/acts/I-3.3/page-96.html#h-299725 + - title: CRA CWB disability supplement phase-out for 2022 tax year (family, two spouses disabled, threshold = $42,197, rate = 7.5%) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5007-tc/5007-tc-22e.pdf + - title: CRA CWB disability supplement phase-out for 2023 tax year (family, two spouses disabled, threshold = $45,932, rate = 7.5%) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5007-tc/5007-tc-23e.pdf + - title: CRA CWB disability supplement phase-out for 2024 tax year (family, two spouses disabled, threshold = $48,091, rate = 7.5%) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5007-tc/5007-tc-24e.pdf + - title: CRA CWB disability supplement phase-out for 2025 tax year (family, two spouses disabled, threshold = $49,389, rate = 7.5%) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5007-tc/5007-tc-25e.pdf diff --git a/policyengine_canada/parameters/gov/cra/benefits/cwb/phase_out/disability_supplement/single.yaml b/policyengine_canada/parameters/gov/cra/benefits/cwb/phase_out/disability_supplement/single.yaml index 42a54eb5e..743c2eee5 100644 --- a/policyengine_canada/parameters/gov/cra/benefits/cwb/phase_out/disability_supplement/single.yaml +++ b/policyengine_canada/parameters/gov/cra/benefits/cwb/phase_out/disability_supplement/single.yaml @@ -9,6 +9,9 @@ brackets: - threshold: values: 2022-12-31: 32_244 + 2023-12-31: 35_098 + 2024-12-31: 36_748 + 2025-12-31: 37_740 rate: values: 2022-12-31: 0.15 @@ -26,4 +29,12 @@ metadata: href: https://www.canada.ca/en/revenue-agency/programs/about-canada-revenue-agency-cra/federal-government-budgets/budget-2021-recovery-plan-for-jobs-growth-resilience/canada-workers-benefit-qa.html - title: Income Tax Act (Part I)(Division E)(Subdivision A.2)(1.3)(3)(a) href: https://laws-lois.justice.gc.ca/eng/acts/I-3.3/page-96.html#h-299725 + - title: CRA CWB disability supplement phase-out for 2022 tax year (single threshold = $32,244, rate = 15%) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5007-tc/5007-tc-22e.pdf + - title: CRA CWB disability supplement phase-out for 2023 tax year (single threshold = $35,098, rate = 15%) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5007-tc/5007-tc-23e.pdf + - title: CRA CWB disability supplement phase-out for 2024 tax year (single threshold = $36,748, rate = 15%) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5007-tc/5007-tc-24e.pdf + - title: CRA CWB disability supplement phase-out for 2025 tax year (single threshold = $37,740, rate = 15%) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5007-tc/5007-tc-25e.pdf diff --git a/policyengine_canada/parameters/gov/cra/benefits/cwb/working_income_sources.yaml b/policyengine_canada/parameters/gov/cra/benefits/cwb/working_income_sources.yaml index 0a6f37a50..f876185bf 100644 --- a/policyengine_canada/parameters/gov/cra/benefits/cwb/working_income_sources.yaml +++ b/policyengine_canada/parameters/gov/cra/benefits/cwb/working_income_sources.yaml @@ -13,3 +13,5 @@ metadata: href: https://www.canada.ca/en/revenue-agency/programs/about-canada-revenue-agency-cra/federal-government-budgets/budget-2021-recovery-plan-for-jobs-growth-resilience/canada-workers-benefit-qa.html - title: Income Tax Act (A.2)(122.7)(1) - Definition of working income (a) href: https://laws-lois.justice.gc.ca/eng/acts/I-3.3/page-96.html#h-299725 + - title: CRA CWB working income includes employment and self-employment income + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5007-tc/5007-tc-24e.pdf diff --git a/policyengine_canada/parameters/gov/cra/benefits/old_age_security_pension/amount/base.yaml b/policyengine_canada/parameters/gov/cra/benefits/old_age_security_pension/amount/base.yaml index 175d79888..dfe49ab4c 100644 --- a/policyengine_canada/parameters/gov/cra/benefits/old_age_security_pension/amount/base.yaml +++ b/policyengine_canada/parameters/gov/cra/benefits/old_age_security_pension/amount/base.yaml @@ -1,10 +1,22 @@ -description: The annual amount you receive if you meet the age and residuence requirements but are _below_ the age threshold for the seniors increase +description: The annual amount you receive if you meet the age and residence requirements but are _below_ the age threshold for the seniors increase values: - 2022-01-01: 8226 + 2022-01-01: 8_226 + 2023-01-01: 8_492 + 2024-01-01: 8_732 + 2025-01-01: 8_881 metadata: unit: currency-CAD + period: year name: old_age_security_pension_base_amount label: Old Age Security Pension Base Amount reference: - title: Government of Canada - Old Age Security Pension href: https://www.canada.ca/en/services/benefits/publicpensions/cpp/old-age-security/payments.html + - title: CRA Federal Worksheet 5000-D1 (2022) - OAS base amount ($8,226) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5000-d1/5000-d1-22e.pdf + - title: CRA Federal Worksheet 5000-D1 (2023) - OAS base amount ($8,492) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5000-d1/5000-d1-23e.pdf + - title: CRA Federal Worksheet 5000-D1 (2024) - OAS base amount ($8,732) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5000-d1/5000-d1-24e.pdf + - title: CRA Federal Worksheet 5000-D1 (2025) - OAS base amount ($8,881) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5000-d1/5000-d1-25e.pdf diff --git a/policyengine_canada/parameters/gov/cra/benefits/old_age_security_pension/repayment_tax.yaml b/policyengine_canada/parameters/gov/cra/benefits/old_age_security_pension/repayment_tax.yaml index 289bd4519..7f1c8b8f5 100644 --- a/policyengine_canada/parameters/gov/cra/benefits/old_age_security_pension/repayment_tax.yaml +++ b/policyengine_canada/parameters/gov/cra/benefits/old_age_security_pension/repayment_tax.yaml @@ -1,31 +1,51 @@ description: OAS Repayment Tax brackets: - - threshold: - values: + - threshold: + values: 2020-12-31: 0 2021-12-31: 0 2022-12-31: 0 - rate: - values: + 2023-12-31: 0 + 2024-12-31: 0 + rate: + values: 2020-12-31: 0 2021-12-31: 0 2022-12-31: 0 + 2023-12-31: 0 + 2024-12-31: 0 - threshold: values: 2020-12-31: 79_845 2021-12-31: 81_761 2022-12-31: 86_912 - rate: + 2023-12-31: 90_997 + 2024-12-31: 93_454 + rate: values: 2020-12-31: 0.15 2021-12-31: 0.15 2022-12-31: 0.15 + 2023-12-31: 0.15 + 2024-12-31: 0.15 +# Date keys use YYYY-12-31 convention: e.g. 2024-12-31 applies to the 2025 tax year metadata: type: marginal_rate rate_unit: /1 threshold_unit: currency-CAD + period: year label: Repayment tax reference: - title: Government of Canada - Old Age Security Pension Recovery Tax href: https://www.canada.ca/en/services/benefits/publicpensions/cpp/old-age-security/recovery-tax.html + - title: CRA Federal Worksheet 5000-D1 (2021) - OAS clawback threshold ($79,845) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5000-d1/5000-d1-21e.pdf + - title: CRA Federal Worksheet 5000-D1 (2022) - OAS clawback threshold ($81,761) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5000-d1/5000-d1-22e.pdf + - title: CRA Federal Worksheet 5000-D1 (2023) - OAS clawback threshold ($86,912) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5000-d1/5000-d1-23e.pdf + - title: CRA Federal Worksheet 5000-D1 (2024) - OAS clawback threshold ($90,997) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5000-d1/5000-d1-24e.pdf + - title: CRA Federal Worksheet 5000-D1 (2025) - OAS clawback threshold ($93,454) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5000-d1/5000-d1-25e.pdf diff --git a/policyengine_canada/parameters/gov/cra/tax/income/credits/age_amount_credit/amount/credit_cap.yaml b/policyengine_canada/parameters/gov/cra/tax/income/credits/age_amount_credit/amount/credit_cap.yaml index 0ba1ec643..0eeae5a5f 100644 --- a/policyengine_canada/parameters/gov/cra/tax/income/credits/age_amount_credit/amount/credit_cap.yaml +++ b/policyengine_canada/parameters/gov/cra/tax/income/credits/age_amount_credit/amount/credit_cap.yaml @@ -1,13 +1,25 @@ description: Age Amount Credit cap. values: 2021-01-01: 7_713 + 2022-01-01: 7_898 + 2023-01-01: 8_396 + 2024-01-01: 8_790 + 2025-01-01: 9_028 metadata: unit: currency-CAD period: year name: age_amount_credit_cap - label: Age amount credit credit cap + label: Age amount credit cap reference: - title: Government of Canada - Canada Age Amount Credit href: https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/line-30100-amount.html - - title: Federal Worksheet + - title: CRA Federal Worksheet 5000-D1 (2021) - Age amount credit cap ($7,713) href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5000-d1/5000-d1-21e.pdf + - title: CRA Federal Worksheet 5000-D1 (2022) - Age amount credit cap ($7,898) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5000-d1/5000-d1-22e.pdf + - title: CRA Federal Worksheet 5000-D1 (2023) - Age amount credit cap ($8,396) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5000-d1/5000-d1-23e.pdf + - title: CRA Federal Worksheet 5000-D1 (2024) - Age amount credit cap ($8,790) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5000-d1/5000-d1-24e.pdf + - title: CRA Federal Worksheet 5000-D1 (2025) - Age amount credit cap ($9,028) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5000-d1/5000-d1-25e.pdf diff --git a/policyengine_canada/parameters/gov/cra/tax/income/credits/age_amount_credit/amount/reduction.yaml b/policyengine_canada/parameters/gov/cra/tax/income/credits/age_amount_credit/amount/reduction.yaml index f87f86515..16461d19d 100644 --- a/policyengine_canada/parameters/gov/cra/tax/income/credits/age_amount_credit/amount/reduction.yaml +++ b/policyengine_canada/parameters/gov/cra/tax/income/credits/age_amount_credit/amount/reduction.yaml @@ -9,6 +9,10 @@ brackets: - threshold: values: 2021-01-01: 38_893 + 2022-01-01: 39_826 + 2023-01-01: 42_335 + 2024-01-01: 44_325 + 2025-01-01: 45_522 rate: values: 2021-01-01: 0.15 @@ -21,9 +25,15 @@ metadata: reference: - title: Government of Canada - Canada Age Amount Credit href: https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/line-30100-amount.html - - title: Federal Worksheet - href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5000-d1/5000-d1-21e.pdf - - title: Income Tax Act (R.S.C., 1985, c. 1 (5th Supp.)) + - title: Income Tax Act (R.S.C., 1985, c. 1 (5th Supp.)), Section 118 href: https://laws-lois.justice.gc.ca/eng/acts/I-3.3/section-118.html - - title: Budget Implementation Act, 2009 S.C. 2009, c. 2 - href: https://laws-lois.justice.gc.ca/eng/AnnualStatutes/2009_2/page-1.html#h-2 + - title: CRA Federal Worksheet 5000-D1 (2021) - Age amount reduction threshold ($38,893) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5000-d1/5000-d1-21e.pdf + - title: CRA Federal Worksheet 5000-D1 (2022) - Age amount reduction threshold ($39,826) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5000-d1/5000-d1-22e.pdf + - title: CRA Federal Worksheet 5000-D1 (2023) - Age amount reduction threshold ($42,335) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5000-d1/5000-d1-23e.pdf + - title: CRA Federal Worksheet 5000-D1 (2024) - Age amount reduction threshold ($44,325) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5000-d1/5000-d1-24e.pdf + - title: CRA Federal Worksheet 5000-D1 (2025) - Age amount reduction threshold ($45,522) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5000-d1/5000-d1-25e.pdf diff --git a/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/base.yaml b/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/base.yaml index b5ee2bd60..6222121ec 100644 --- a/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/base.yaml +++ b/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/base.yaml @@ -1,9 +1,11 @@ -description: Canada provides this base amount for the BPA. +description: Canada provides this base amount for the Basic Personal Amount. values: 2020-01-01: 12_298 2021-01-01: 12_421 2022-01-01: 12_719 - 2023-01-01: 13_521 + 2023-01-01: 13_520 + 2024-01-01: 14_156 + 2025-01-01: 14_538 metadata: unit: currency-CAD period: year @@ -11,5 +13,17 @@ metadata: reference: - title: Government of Canada - Basic Personal amount href: https://www.canada.ca/en/revenue-agency/programs/about-canada-revenue-agency-cra/federal-government-budgets/basic-personal-amount.html - - title: Income Tax Act (E), (A), (118.1), (1.1) - href: https://laws-lois.justice.gc.ca/eng/acts/I-3.3/page-84.html?txthl=personal+amounts+amount+basic#s-118 + - title: Income Tax Act, s. 118(1.1) + href: https://laws-lois.justice.gc.ca/eng/acts/I-3.3/page-84.html?txthl=personal+amounts+amount+basic#s-118 + - title: CRA Federal Worksheet 5000-D1 for 2020 (BPA base = $12,298) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5000-d1/5000-d1-20e.pdf + - title: CRA Federal Worksheet 5000-D1 for 2021 (BPA base = $12,421) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5000-d1/5000-d1-21e.pdf + - title: CRA Federal Worksheet 5000-D1 for 2022 (BPA base = $12,719) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5000-d1/5000-d1-22e.pdf + - title: CRA Federal Worksheet 5000-D1 for 2023 (BPA base = $13,520) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5000-d1/5000-d1-23e.pdf + - title: CRA Federal Worksheet 5000-D1 for 2024 (BPA base = $14,156) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5000-d1/5000-d1-24e.pdf + - title: CRA Federal Worksheet 5000-D1 for 2025 (BPA base = $14,538) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5000-d1/5000-d1-25e.pdf diff --git a/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/max_amount.yaml b/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/max_amount.yaml index 4c735c5e3..88276878d 100644 --- a/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/max_amount.yaml +++ b/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/max_amount.yaml @@ -1,9 +1,11 @@ -description: Canada provides the maximum amount for the BPA. +description: Canada provides the maximum amount for the Basic Personal Amount. values: 2020-01-01: 13_229 2021-01-01: 13_808 2022-01-01: 14_398 2023-01-01: 15_000 + 2024-01-01: 15_705 + 2025-01-01: 16_129 metadata: unit: currency-CAD period: year @@ -11,5 +13,17 @@ metadata: reference: - title: Government of Canada - Basic Personal amount href: https://www.canada.ca/en/revenue-agency/programs/about-canada-revenue-agency-cra/federal-government-budgets/basic-personal-amount.html - - title: Income Tax Act (E), (A), (118.1), (1.1) - href: https://laws-lois.justice.gc.ca/eng/acts/I-3.3/page-84.html?txthl=personal+amounts+amount+basic#s-118 + - title: Income Tax Act, s. 118(1.1) + href: https://laws-lois.justice.gc.ca/eng/acts/I-3.3/page-84.html?txthl=personal+amounts+amount+basic#s-118 + - title: CRA Federal Worksheet 5000-D1 for 2020 (BPA max = $13,229) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5000-d1/5000-d1-20e.pdf + - title: CRA Federal Worksheet 5000-D1 for 2021 (BPA max = $13,808) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5000-d1/5000-d1-21e.pdf + - title: CRA Federal Worksheet 5000-D1 for 2022 (BPA max = $14,398) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5000-d1/5000-d1-22e.pdf + - title: CRA Federal Worksheet 5000-D1 for 2023 (BPA max = $15,000) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5000-d1/5000-d1-23e.pdf + - title: CRA Federal Worksheet 5000-D1 for 2024 (BPA max = $15,705) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5000-d1/5000-d1-24e.pdf + - title: CRA Federal Worksheet 5000-D1 for 2025 (BPA max = $16,129) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5000-d1/5000-d1-25e.pdf diff --git a/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/phase_out/threshold/end.yaml b/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/phase_out/threshold/end.yaml index 9359db54a..e74f9d92e 100644 --- a/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/phase_out/threshold/end.yaml +++ b/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/phase_out/threshold/end.yaml @@ -1,16 +1,29 @@ -description: Basic Personal Amout phase-out threshold start. +description: Basic Personal Amount phase-out threshold end. values: - 2020-01-01: 200_000 + 2020-01-01: 214_368 + 2021-01-01: 216_511 2022-01-01: 221_708 2023-01-01: 235_675 + 2024-01-01: 246_752 + 2025-01-01: 253_414 metadata: unit: currency-CAD period: year - label: Basic personal phase out start threshold + label: Basic personal phase out end threshold reference: - title: Government of Canada - Basic Personal amount href: https://www.canada.ca/en/revenue-agency/programs/about-canada-revenue-agency-cra/federal-government-budgets/basic-personal-amount.html - - title: Income Tax Act (E), (A), (118.1), (1.1) - href: https://laws-lois.justice.gc.ca/eng/acts/I-3.3/page-84.html?txthl=personal+amounts+amount+basic#s-118 - -# Based on the federal tax schedule (33% bracket) + - title: Income Tax Act, s. 118(1.1) + href: https://laws-lois.justice.gc.ca/eng/acts/I-3.3/page-84.html?txthl=personal+amounts+amount+basic#s-118 + - title: CRA Federal Worksheet 5000-D1 for 2020 (phase-out end = $214,368) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5000-d1/5000-d1-20e.pdf + - title: CRA Federal Worksheet 5000-D1 for 2021 (phase-out end = $216,511) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5000-d1/5000-d1-21e.pdf + - title: CRA Federal Worksheet 5000-D1 for 2022 (phase-out end = $221,708) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5000-d1/5000-d1-22e.pdf + - title: CRA Federal Worksheet 5000-D1 for 2023 (phase-out end = $235,675) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5000-d1/5000-d1-23e.pdf + - title: CRA Federal Worksheet 5000-D1 for 2024 (phase-out end = $246,752) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5000-d1/5000-d1-24e.pdf + - title: CRA Federal Worksheet 5000-D1 for 2025 (phase-out end = $253,414) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5000-d1/5000-d1-25e.pdf diff --git a/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/phase_out/threshold/start.yaml b/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/phase_out/threshold/start.yaml index 9dc211e4c..edd47ad3b 100644 --- a/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/phase_out/threshold/start.yaml +++ b/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/phase_out/threshold/start.yaml @@ -1,8 +1,11 @@ -description: Basic Personal Amout phase-out threshold start. +description: Basic Personal Amount phase-out threshold start. values: - 2020-01-01: 140_388 + 2020-01-01: 150_473 + 2021-01-01: 151_978 2022-01-01: 155_625 2023-01-01: 165_430 + 2024-01-01: 173_205 + 2025-01-01: 177_882 metadata: unit: currency-CAD period: year @@ -10,8 +13,17 @@ metadata: reference: - title: Government of Canada - Basic Personal amount href: https://www.canada.ca/en/revenue-agency/programs/about-canada-revenue-agency-cra/federal-government-budgets/basic-personal-amount.html - - title: Income Tax Act (E), (A), (118.1), (1.1) - href: https://laws-lois.justice.gc.ca/eng/acts/I-3.3/page-84.html?txthl=personal+amounts+amount+basic#s-118 - - -# Based on the 2023 tax schedule (29% bracket) + - title: Income Tax Act, s. 118(1.1) + href: https://laws-lois.justice.gc.ca/eng/acts/I-3.3/page-84.html?txthl=personal+amounts+amount+basic#s-118 + - title: CRA Federal Worksheet 5000-D1 for 2020 (phase-out start = $150,473) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5000-d1/5000-d1-20e.pdf + - title: CRA Federal Worksheet 5000-D1 for 2021 (phase-out start = $151,978) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5000-d1/5000-d1-21e.pdf + - title: CRA Federal Worksheet 5000-D1 for 2022 (phase-out start = $155,625) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5000-d1/5000-d1-22e.pdf + - title: CRA Federal Worksheet 5000-D1 for 2023 (phase-out start = $165,430) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5000-d1/5000-d1-23e.pdf + - title: CRA Federal Worksheet 5000-D1 for 2024 (phase-out start = $173,205) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5000-d1/5000-d1-24e.pdf + - title: CRA Federal Worksheet 5000-D1 for 2025 (phase-out start = $177,882) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5000-d1/5000-d1-25e.pdf diff --git a/policyengine_canada/parameters/gov/cra/tax/income/credits/canada_employment_amount/max_amount.yaml b/policyengine_canada/parameters/gov/cra/tax/income/credits/canada_employment_amount/max_amount.yaml index f6463e4d9..ebb01bd93 100644 --- a/policyengine_canada/parameters/gov/cra/tax/income/credits/canada_employment_amount/max_amount.yaml +++ b/policyengine_canada/parameters/gov/cra/tax/income/credits/canada_employment_amount/max_amount.yaml @@ -1,12 +1,28 @@ description: Canada provides the following maximum amount under the Canada employment amount. values: + 2020-01-01: 1_245 + 2021-01-01: 1_257 2022-01-01: 1_287 + 2023-01-01: 1_368 + 2024-01-01: 1_433 + 2025-01-01: 1_471 metadata: unit: currency-CAD label: Canada Employment Amount max amount reference: - title: Government of Canada, Line 31260 – Canada employment amount href: https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/line-31260-canada-employment-amount.html - # The law specifies $1,000. - title: Canada Income Tax Act, 118 (10) - Canada employment credit href: https://laws-lois.justice.gc.ca/eng/acts/I-3.3/section-118.html + - title: CRA Federal Worksheet 5000-D1 for 2020 (CEA max = $1,245) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5000-d1/5000-d1-20e.pdf + - title: CRA Federal Worksheet 5000-D1 for 2021 (CEA max = $1,257) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5000-d1/5000-d1-21e.pdf + - title: CRA Federal Worksheet 5000-D1 for 2022 (CEA max = $1,287) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5000-d1/5000-d1-22e.pdf + - title: CRA Federal Worksheet 5000-D1 for 2023 (CEA max = $1,368) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5000-d1/5000-d1-23e.pdf + - title: CRA Federal Worksheet 5000-D1 for 2024 (CEA max = $1,433) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5000-d1/5000-d1-24e.pdf + - title: CRA Federal Worksheet 5000-D1 for 2025 (CEA max = $1,471) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5000-d1/5000-d1-25e.pdf diff --git a/policyengine_canada/parameters/gov/cra/tax/income/credits/climate_action_incentive/adult_age.yaml b/policyengine_canada/parameters/gov/cra/tax/income/credits/climate_action_incentive/adult_age.yaml index bf2eae81b..a0a6fa27b 100644 --- a/policyengine_canada/parameters/gov/cra/tax/income/credits/climate_action_incentive/adult_age.yaml +++ b/policyengine_canada/parameters/gov/cra/tax/income/credits/climate_action_incentive/adult_age.yaml @@ -19,3 +19,5 @@ metadata: reference: - title: Government of Canada - Climate action incentive payment href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/cai-payment.html + - title: Canada Carbon Rebate eligibility - child must be under 19 years of age + href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-carbon-rebate/how-much.html diff --git a/policyengine_canada/parameters/gov/cra/tax/income/credits/climate_action_incentive/amount.yaml b/policyengine_canada/parameters/gov/cra/tax/income/credits/climate_action_incentive/amount.yaml index e212befcc..60bc698f0 100644 --- a/policyengine_canada/parameters/gov/cra/tax/income/credits/climate_action_incentive/amount.yaml +++ b/policyengine_canada/parameters/gov/cra/tax/income/credits/climate_action_incentive/amount.yaml @@ -3,47 +3,136 @@ description: The climate action program provides the following amounts by provin HEAD: AB: 2022-07-01: 539 + 2023-07-01: 772 + 2024-07-01: 900 MB: 2022-07-01: 416 + 2023-07-01: 528 + 2024-07-01: 600 + NB: + 2023-07-01: 368 + 2024-07-01: 380 + NL: + 2023-07-01: 656 + 2024-07-01: 596 + NS: + 2023-07-01: 496 + 2024-07-01: 412 ONT: 2022-07-01: 373 + 2023-07-01: 488 + 2024-07-01: 560 + PE: + 2023-07-01: 480 + 2024-07-01: 440 SK: 2022-07-01: 550 + 2023-07-01: 680 + 2024-07-01: 752 SPOUSE: AB: 2022-07-01: 270 + 2023-07-01: 386 + 2024-07-01: 450 MB: 2022-07-01: 208 + 2023-07-01: 264 + 2024-07-01: 300 + NB: + 2023-07-01: 184 + 2024-07-01: 190 + NL: + 2023-07-01: 328 + 2024-07-01: 298 + NS: + 2023-07-01: 248 + 2024-07-01: 206 ONT: 2022-07-01: 186 + 2023-07-01: 244 + 2024-07-01: 280 + PE: + 2023-07-01: 240 + 2024-07-01: 220 SK: - 2022-07-01: 275 + 2022-07-01: 275 + 2023-07-01: 340 + 2024-07-01: 376 ELDEST_CHILD_IN_SINGLE_PARENT_HOUSEHOLD: AB: 2022-07-01: 270 + 2023-07-01: 386 + 2024-07-01: 450 MB: 2022-07-01: 208 + 2023-07-01: 264 + 2024-07-01: 300 + NB: + 2023-07-01: 184 + 2024-07-01: 190 + NL: + 2023-07-01: 328 + 2024-07-01: 298 + NS: + 2023-07-01: 248 + 2024-07-01: 206 ONT: 2022-07-01: 186 + 2023-07-01: 244 + 2024-07-01: 280 + PE: + 2023-07-01: 240 + 2024-07-01: 220 SK: 2022-07-01: 275 + 2023-07-01: 340 + 2024-07-01: 376 OTHER_CHILD: AB: 2022-07-01: 135 + 2023-07-01: 193 + 2024-07-01: 225 MB: 2022-07-01: 104 + 2023-07-01: 132 + 2024-07-01: 150 + NB: + 2023-07-01: 92 + 2024-07-01: 95 + NL: + 2023-07-01: 164 + 2024-07-01: 149 + NS: + 2023-07-01: 124 + 2024-07-01: 103 ONT: 2022-07-01: 93 + 2023-07-01: 122 + 2024-07-01: 140 + PE: + 2023-07-01: 120 + 2024-07-01: 110 SK: 2022-07-01: 138 + 2023-07-01: 170 + 2024-07-01: 188 metadata: unit: currency-CAD period: year - label: Climate action amount + label: Climate action amount reference: - title: Government of Canada - Climate action incentive payment href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/cai-payment.html + - title: How much the Canada Carbon Rebate payment amounts were + href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-carbon-rebate/how-much.html + - title: Climate Action Incentive amounts for July 2022 - June 2023 (e.g. ON individual = $373, AB = $539, SK = $550, MB = $416) + href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-carbon-rebate/how-much.html + - title: Climate Action Incentive payment amounts for 2023-24 (e.g. ON = $488, AB = $772, NL = $656, NS = $496, NB = $368, PE = $480) + href: https://www.canada.ca/en/department-finance/news/2022/11/climate-action-incentive-payment-amounts-for-2023-24.html + # NL, NS, PE amounts decrease in 2024-25 due to carbon pricing backstop adjustments + - title: Canada Carbon Rebate amounts for 2024-25 (e.g. ON = $560, AB = $900, NL = $596, NS = $412, NB = $380, PE = $440) + href: https://www.canada.ca/en/department-finance/news/2024/02/canada-carbon-rebate-amounts-for-2024-25.html breakdown: - climate_action_incentive_category - province_code diff --git a/policyengine_canada/parameters/gov/cra/tax/income/credits/climate_action_incentive/rural.yaml b/policyengine_canada/parameters/gov/cra/tax/income/credits/climate_action_incentive/rural.yaml index 2a738bd6e..8654b7779 100644 --- a/policyengine_canada/parameters/gov/cra/tax/income/credits/climate_action_incentive/rural.yaml +++ b/policyengine_canada/parameters/gov/cra/tax/income/credits/climate_action_incentive/rural.yaml @@ -1,6 +1,8 @@ description: Canada supplements the climate action incentive amount for rural citizens of the provinces. +# Effective date uses July 1 to align with benefit payment year (Apr-Mar) values: - 2022-07-01: 0.10 + 2022-07-01: 0.1 + 2024-07-01: 0.2 metadata: unit: /1 period: year @@ -9,4 +11,7 @@ metadata: reference: - title: Government of Canada - Climate action incentive payment href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/cai-payment.html - + - title: Climate Action Incentive rural supplement for 2022-23 and 2023-24 (10% of base amount) + href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-carbon-rebate/how-much.html + - title: Canada Carbon Rebate rural supplement doubled to 20% starting April 2024 + href: https://www.canada.ca/en/environment-climate-change/news/2024/10/canada-carbon-rebate-rural-top-up-2024-and-2025.html diff --git a/policyengine_canada/parameters/gov/cra/tax/income/credits/dtc/base.yaml b/policyengine_canada/parameters/gov/cra/tax/income/credits/dtc/base.yaml index 3dcb94665..182995d61 100644 --- a/policyengine_canada/parameters/gov/cra/tax/income/credits/dtc/base.yaml +++ b/policyengine_canada/parameters/gov/cra/tax/income/credits/dtc/base.yaml @@ -1,12 +1,26 @@ description: Canada provides this base amount in the Disability Tax Credit. values: 2021-01-01: 8_662 + 2022-01-01: 8_870 + 2023-01-01: 9_428 + 2024-01-01: 9_872 + 2025-01-01: 10_138 metadata: unit: currency-CAD period: year name: disability_credit_base label: disability credit base reference: + - title: CRA Federal Worksheet 5000-D1 (2021) - Disability amount ($8,662) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5000-d1/5000-d1-21e.pdf + - title: CRA Federal Worksheet 5000-D1 (2022) - Disability amount ($8,870) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5000-d1/5000-d1-22e.pdf + - title: CRA Federal Worksheet 5000-D1 (2023) - Disability amount ($9,428) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5000-d1/5000-d1-23e.pdf + - title: CRA Federal Worksheet 5000-D1 (2024) - Disability amount ($9,872) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5000-d1/5000-d1-24e.pdf + - title: CRA Federal Worksheet 5000-D1 (2025) - Disability amount ($10,138) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5000-d1/5000-d1-25e.pdf - title: Government of Canada - Disability tax credit href: https://www.canada.ca/en/revenue-agency/services/tax/individuals/segments/tax-credits-deductions-persons-disabilities/disability-tax-credit/claiming-dtc.html - title: Income Tax Act diff --git a/policyengine_canada/parameters/gov/cra/tax/income/credits/dtc/child_supplement.yaml b/policyengine_canada/parameters/gov/cra/tax/income/credits/dtc/child_supplement.yaml index eb76eea63..75dc7429e 100644 --- a/policyengine_canada/parameters/gov/cra/tax/income/credits/dtc/child_supplement.yaml +++ b/policyengine_canada/parameters/gov/cra/tax/income/credits/dtc/child_supplement.yaml @@ -1,12 +1,26 @@ description: Canada provides this child supplement in the Disability Tax Credit. values: 2021-01-01: 5_053 + 2022-01-01: 5_174 + 2023-01-01: 5_500 + 2024-01-01: 5_758 + 2025-01-01: 5_914 metadata: unit: currency-CAD period: year name: disability_credit_child_supplement label: disability credit child supplement reference: + - title: CRA Federal Worksheet 5000-D1 (2021) - Disability child supplement ($5,053) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5000-d1/5000-d1-21e.pdf + - title: CRA Federal Worksheet 5000-D1 (2022) - Disability child supplement ($5,174) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5000-d1/5000-d1-22e.pdf + - title: CRA Federal Worksheet 5000-D1 (2023) - Disability child supplement ($5,500) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5000-d1/5000-d1-23e.pdf + - title: CRA Federal Worksheet 5000-D1 (2024) - Disability child supplement ($5,758) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5000-d1/5000-d1-24e.pdf + - title: CRA Federal Worksheet 5000-D1 (2025) - Disability child supplement ($5,914) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5000-d1/5000-d1-25e.pdf - title: Government of Canada - Disability tax credit href: https://www.canada.ca/en/revenue-agency/services/tax/individuals/segments/tax-credits-deductions-persons-disabilities/disability-tax-credit/claiming-dtc.html - title: Income Tax Act diff --git a/policyengine_canada/parameters/gov/cra/tax/income/credits/gst_credit/adult_age.yaml b/policyengine_canada/parameters/gov/cra/tax/income/credits/gst_credit/adult_age.yaml index 091bad42a..31dee1c97 100644 --- a/policyengine_canada/parameters/gov/cra/tax/income/credits/gst_credit/adult_age.yaml +++ b/policyengine_canada/parameters/gov/cra/tax/income/credits/gst_credit/adult_age.yaml @@ -5,5 +5,7 @@ values: metadata: label: The age at which a household can no longer get a benefit amount for this child. reference: - - title: Government of Canada - GST Credit Calculation Sheet - href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/goods-services-tax-harmonized-sales-tax-gst-hst-credit/goods-services-tax-harmonized-sales-tax-credit-calculation-sheet-july-2022-june-2023-payments-2021-tax-year.html + - title: Government of Canada - GST/HST Credit + href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/goods-services-tax-harmonized-sales-tax-gst-hst-credit.html + - title: GST/HST credit eligibility - child must be under 19 years of age + href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/goods-services-tax-harmonized-sales-tax-gst-hst-credit/goods-services-tax-harmonized-sales-tax-credit-calculation-sheet-july-2025-june-2026-payments-2024-tax-year.html diff --git a/policyengine_canada/parameters/gov/cra/tax/income/credits/gst_credit/base_amounts.yaml b/policyengine_canada/parameters/gov/cra/tax/income/credits/gst_credit/base_amounts.yaml index ff13e3720..0618f80e4 100644 --- a/policyengine_canada/parameters/gov/cra/tax/income/credits/gst_credit/base_amounts.yaml +++ b/policyengine_canada/parameters/gov/cra/tax/income/credits/gst_credit/base_amounts.yaml @@ -2,10 +2,19 @@ description: This tax credit, introduced in 1986, is a refundable credit calcula HEAD: 2022-07-01: 306 + 2023-07-01: 325 + 2024-07-01: 340 + 2025-07-01: 349 SPOUSE: 2022-07-01: 306 + 2023-07-01: 325 + 2024-07-01: 340 + 2025-07-01: 349 CHILD: 2022-07-01: 161 + 2023-07-01: 171 + 2024-07-01: 179 + 2025-07-01: 184 metadata: unit: currency-CAD @@ -13,6 +22,13 @@ metadata: name: gst_credit_base_amount label: GST Credit Base Amount reference: - - title: Government of Canada - GST calculation sheet for the July 2022 to June 2023 payments (2021 base year) - href: https://www.canada.ca/content/dam/cra-arc/serv-info/benefits/gstcclc21-eng.pdf - + - title: Government of Canada - GST/HST Credit + href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/goods-services-tax-harmonized-sales-tax-gst-hst-credit.html + - title: GST/HST credit amounts for July 2022 - June 2023 (head/spouse = $306, child = $161) + href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/goods-services-tax-harmonized-sales-tax-gst-hst-credit/goods-services-tax-harmonized-sales-tax-credit-calculation-sheet-july-2022-june-2023-payments-2021-tax-year.html + - title: GST/HST credit amounts for July 2023 - June 2024 (head/spouse = $325, child = $171) + href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/goods-services-tax-harmonized-sales-tax-gst-hst-credit/goods-services-tax-harmonized-sales-tax-credit-calculation-sheet-july-2023-june-2024-payments-2022-tax-year.html + - title: GST/HST credit amounts for July 2024 - June 2025 (head/spouse = $340, child = $179) + href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/goods-services-tax-harmonized-sales-tax-gst-hst-credit/goods-services-tax-harmonized-sales-tax-credit-calculation-sheet-july-2024-june-2025-payments-2023-tax-year.html + - title: GST/HST credit amounts for July 2025 - June 2026 (head/spouse = $349, child = $184) + href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/goods-services-tax-harmonized-sales-tax-gst-hst-credit/goods-services-tax-harmonized-sales-tax-credit-calculation-sheet-july-2025-june-2026-payments-2024-tax-year.html diff --git a/policyengine_canada/parameters/gov/cra/tax/income/credits/gst_credit/reduction.yaml b/policyengine_canada/parameters/gov/cra/tax/income/credits/gst_credit/reduction.yaml index 57541dd6e..73254bd17 100644 --- a/policyengine_canada/parameters/gov/cra/tax/income/credits/gst_credit/reduction.yaml +++ b/policyengine_canada/parameters/gov/cra/tax/income/credits/gst_credit/reduction.yaml @@ -6,6 +6,9 @@ brackets: 2022-12-31: 0 - threshold: 2022-12-31: 39_826 + 2023-12-31: 42_335 + 2024-12-31: 44_324 + 2025-12-31: 45_521 rate: 2022-12-31: 0.05 @@ -14,5 +17,13 @@ metadata: name: gst_credit_reduction_threshold label: Proportion of above-threshold income to reduce from the credit value. reference: - - title: Government of Canada - GST Credit Calculation Sheet + - title: Government of Canada - GST/HST Credit + href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/goods-services-tax-harmonized-sales-tax-gst-hst-credit.html + - title: GST/HST credit reduction threshold for July 2022 - June 2023 ($39,826 at 5%) href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/goods-services-tax-harmonized-sales-tax-gst-hst-credit/goods-services-tax-harmonized-sales-tax-credit-calculation-sheet-july-2022-june-2023-payments-2021-tax-year.html + - title: GST/HST credit reduction threshold for July 2023 - June 2024 ($42,335 at 5%) + href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/goods-services-tax-harmonized-sales-tax-gst-hst-credit/goods-services-tax-harmonized-sales-tax-credit-calculation-sheet-july-2023-june-2024-payments-2022-tax-year.html + - title: GST/HST credit reduction threshold for July 2024 - June 2025 ($44,324 at 5%) + href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/goods-services-tax-harmonized-sales-tax-gst-hst-credit/goods-services-tax-harmonized-sales-tax-credit-calculation-sheet-july-2024-june-2025-payments-2023-tax-year.html + - title: GST/HST credit reduction threshold for July 2025 - June 2026 ($45,521 at 5%) + href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/goods-services-tax-harmonized-sales-tax-gst-hst-credit/goods-services-tax-harmonized-sales-tax-credit-calculation-sheet-july-2025-june-2026-payments-2024-tax-year.html diff --git a/policyengine_canada/parameters/gov/cra/tax/income/credits/gst_credit/singles_boost/cap.yaml b/policyengine_canada/parameters/gov/cra/tax/income/credits/gst_credit/singles_boost/cap.yaml index 882b47bc1..5dbaf1b92 100644 --- a/policyengine_canada/parameters/gov/cra/tax/income/credits/gst_credit/singles_boost/cap.yaml +++ b/policyengine_canada/parameters/gov/cra/tax/income/credits/gst_credit/singles_boost/cap.yaml @@ -1,11 +1,22 @@ description: GST credit singles boost cap values: 2022-07-01: 161 + 2023-07-01: 171 + 2024-07-01: 179 + 2025-07-01: 184 metadata: unit: currency-CAD name: gst_credit_singles_boost_maximum label: The maximum boost amount for singles. Single parent households will always receive this amount. reference: - - title: Government of Canada - GST Credit Calculation Sheet + - title: Government of Canada - GST/HST Credit + href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/goods-services-tax-harmonized-sales-tax-gst-hst-credit.html + - title: GST/HST credit single supplement cap for July 2022 - June 2023 ($161) href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/goods-services-tax-harmonized-sales-tax-gst-hst-credit/goods-services-tax-harmonized-sales-tax-credit-calculation-sheet-july-2022-june-2023-payments-2021-tax-year.html + - title: GST/HST credit single supplement cap for July 2023 - June 2024 ($171) + href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/goods-services-tax-harmonized-sales-tax-gst-hst-credit/goods-services-tax-harmonized-sales-tax-credit-calculation-sheet-july-2023-june-2024-payments-2022-tax-year.html + - title: GST/HST credit single supplement cap for July 2024 - June 2025 ($179) + href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/goods-services-tax-harmonized-sales-tax-gst-hst-credit/goods-services-tax-harmonized-sales-tax-credit-calculation-sheet-july-2024-june-2025-payments-2023-tax-year.html + - title: GST/HST credit single supplement cap for July 2025 - June 2026 ($184) + href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/goods-services-tax-harmonized-sales-tax-gst-hst-credit/goods-services-tax-harmonized-sales-tax-credit-calculation-sheet-july-2025-june-2026-payments-2024-tax-year.html diff --git a/policyengine_canada/parameters/gov/cra/tax/income/credits/gst_credit/singles_boost/phase_in.yaml b/policyengine_canada/parameters/gov/cra/tax/income/credits/gst_credit/singles_boost/phase_in.yaml index fccebcdcf..c1f804825 100644 --- a/policyengine_canada/parameters/gov/cra/tax/income/credits/gst_credit/singles_boost/phase_in.yaml +++ b/policyengine_canada/parameters/gov/cra/tax/income/credits/gst_credit/singles_boost/phase_in.yaml @@ -6,11 +6,22 @@ brackets: 2022-12-31: 0 - threshold: 2022-12-31: 9_919 + 2023-12-31: 10_544 + 2024-12-31: 11_039 + 2025-12-31: 11_337 rate: 2022-12-31: 0.02 metadata: label: GST Credit singles Phase-In Rate reference: - - title: Goods and services tax/harmonized sales tax (GST/HST) credit - calculation sheet for the July 2022 to June 2023 payments (2021 base year) - href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/goods-services-tax-harmonized-sales-tax-gst-hst-credit/goods-services-tax-harmonized-sales-tax-credit-calculation-sheet-july-2022-june-2023-payments-2021-tax-year.html + - title: Government of Canada - GST/HST Credit + href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/goods-services-tax-harmonized-sales-tax-gst-hst-credit.html + - title: GST/HST credit single supplement phase-in for July 2022 - June 2023 ($9,919 at 2%) + href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/goods-services-tax-harmonized-sales-tax-gst-hst-credit/goods-services-tax-harmonized-sales-tax-credit-calculation-sheet-july-2022-june-2023-payments-2021-tax-year.html + - title: GST/HST credit single supplement phase-in for July 2023 - June 2024 ($10,544 at 2%) + href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/goods-services-tax-harmonized-sales-tax-gst-hst-credit/goods-services-tax-harmonized-sales-tax-credit-calculation-sheet-july-2023-june-2024-payments-2022-tax-year.html + - title: GST/HST credit single supplement phase-in for July 2024 - June 2025 ($11,039 at 2%) + href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/goods-services-tax-harmonized-sales-tax-gst-hst-credit/goods-services-tax-harmonized-sales-tax-credit-calculation-sheet-july-2024-june-2025-payments-2023-tax-year.html + - title: GST/HST credit single supplement phase-in for July 2025 - June 2026 ($11,337 at 2%) + href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/goods-services-tax-harmonized-sales-tax-gst-hst-credit/goods-services-tax-harmonized-sales-tax-credit-calculation-sheet-july-2025-june-2026-payments-2024-tax-year.html diff --git a/policyengine_canada/parameters/gov/cra/tax/income/credits/training/age_eligibility/max.yaml b/policyengine_canada/parameters/gov/cra/tax/income/credits/training/age_eligibility/max.yaml index 341d4c8ca..0e7322add 100644 --- a/policyengine_canada/parameters/gov/cra/tax/income/credits/training/age_eligibility/max.yaml +++ b/policyengine_canada/parameters/gov/cra/tax/income/credits/training/age_eligibility/max.yaml @@ -6,5 +6,9 @@ metadata: name: training_credit_upper_age_bracket label: Training credit upper age bracket reference: - - title: Government of Canada - Canada Training Credit - href: https://www.canada.ca/en/revenue-agency/programs/about-canada-revenue-agency-cra/federal-government-budgets/budget-2019-investing-middle-class/canada-training-credit.html + - title: Government of Canada - Canada Training Credit + href: https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/line-45350-canada-training-credit.html + - title: Who can claim - Canada training credit (less than 66 years old at end of year) + href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-training-credit/who-can-claim.html + - title: Budget 2019 - Canada Training Credit + href: https://www.canada.ca/en/revenue-agency/programs/about-canada-revenue-agency-cra/federal-government-budgets/budget-2019-investing-middle-class/canada-training-credit.html diff --git a/policyengine_canada/parameters/gov/cra/tax/income/credits/training/age_eligibility/min.yaml b/policyengine_canada/parameters/gov/cra/tax/income/credits/training/age_eligibility/min.yaml index 2dc7bceed..71cb575ad 100644 --- a/policyengine_canada/parameters/gov/cra/tax/income/credits/training/age_eligibility/min.yaml +++ b/policyengine_canada/parameters/gov/cra/tax/income/credits/training/age_eligibility/min.yaml @@ -6,5 +6,9 @@ metadata: name: training_credit_lower_age_bracket label: Training credit lower age bracket reference: - - title: Government of Canada - Canada Training Credit - href: https://www.canada.ca/en/revenue-agency/programs/about-canada-revenue-agency-cra/federal-government-budgets/budget-2019-investing-middle-class/canada-training-credit.html + - title: Government of Canada - Canada Training Credit + href: https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/line-45350-canada-training-credit.html + - title: Who can claim - Canada training credit (at least 26 years old at end of year) + href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-training-credit/who-can-claim.html + - title: Budget 2019 - Canada Training Credit + href: https://www.canada.ca/en/revenue-agency/programs/about-canada-revenue-agency-cra/federal-government-budgets/budget-2019-investing-middle-class/canada-training-credit.html diff --git a/policyengine_canada/parameters/gov/cra/tax/income/credits/training/amount.yaml b/policyengine_canada/parameters/gov/cra/tax/income/credits/training/amount.yaml index 1625b946e..f9394e095 100644 --- a/policyengine_canada/parameters/gov/cra/tax/income/credits/training/amount.yaml +++ b/policyengine_canada/parameters/gov/cra/tax/income/credits/training/amount.yaml @@ -8,10 +8,20 @@ brackets: 2020-01-01: 250 threshold: 2020-01-01: 10_000 + 2021-01-01: 10_100 + 2022-01-01: 10_342 + 2023-01-01: 10_994 + 2024-01-01: 11_511 + 2025-01-01: 11_821 - amount: 2020-01-01: 0 threshold: - 2020-01-01: 150_000 + 2020-01-01: 150_473 + 2021-01-01: 151_978 + 2022-01-01: 155_625 + 2023-01-01: 165_430 + 2024-01-01: 173_205 + 2025-01-01: 177_882 metadata: type: single_amount threshold_unit: currency-CAD @@ -21,4 +31,11 @@ metadata: label: Canada Training Credit Income Thresholds reference: - title: Government of Canada - Canada Training Credit + href: https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/line-45350-canada-training-credit.html + - title: "Backgrounder: Canada Training Benefit ($250 annual credit, income between ~$10,000 and ~$150,000)" href: https://www.canada.ca/en/employment-social-development/news/2019/05/backgrounder-canada-training-benefit.html + - title: How much you can get - Canada training credit + href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-training-credit/how-much-you-can-get.html + - title: Who can claim - Canada training credit (ages 26-65, income thresholds) + href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-training-credit/who-can-claim.html + # Upper threshold tracks the 4th federal income tax bracket threshold each year diff --git a/policyengine_canada/parameters/gov/cra/tax/income/credits/training/income_sources.yaml b/policyengine_canada/parameters/gov/cra/tax/income/credits/training/income_sources.yaml index be4b5ff80..c386adf68 100644 --- a/policyengine_canada/parameters/gov/cra/tax/income/credits/training/income_sources.yaml +++ b/policyengine_canada/parameters/gov/cra/tax/income/credits/training/income_sources.yaml @@ -7,5 +7,9 @@ metadata: name: training_credit_income_sources label: Training credit income sources reference: - - title: Government of Canada - Canada Training Credit - href: https://www.canada.ca/en/revenue-agency/programs/about-canada-revenue-agency-cra/federal-government-budgets/budget-2019-investing-middle-class/canada-training-credit.html + - title: Government of Canada - Canada Training Credit + href: https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/line-45350-canada-training-credit.html + - title: Who can claim - Canada training credit (employment income and maternity/parental benefits) + href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-training-credit/who-can-claim.html + - title: Budget 2019 - Canada Training Credit + href: https://www.canada.ca/en/revenue-agency/programs/about-canada-revenue-agency-cra/federal-government-budgets/budget-2019-investing-middle-class/canada-training-credit.html diff --git a/policyengine_canada/parameters/gov/cra/tax/income/credits/training/lifetime_cap.yaml b/policyengine_canada/parameters/gov/cra/tax/income/credits/training/lifetime_cap.yaml index 9793b2ae6..ee2fe3b1e 100644 --- a/policyengine_canada/parameters/gov/cra/tax/income/credits/training/lifetime_cap.yaml +++ b/policyengine_canada/parameters/gov/cra/tax/income/credits/training/lifetime_cap.yaml @@ -8,4 +8,8 @@ metadata: label: Total lifetime cap on the training credit reference: - title: Government of Canada - Canada Training Credit + href: https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/line-45350-canada-training-credit.html + - title: How much you can get - Canada training credit ($5,000 lifetime maximum) + href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-training-credit/how-much-you-can-get.html + - title: "Backgrounder: Canada Training Benefit" href: https://www.canada.ca/en/employment-social-development/news/2019/05/backgrounder-canada-training-benefit.html diff --git a/policyengine_canada/parameters/gov/cra/tax/income/income_tax_schedule.yaml b/policyengine_canada/parameters/gov/cra/tax/income/income_tax_schedule.yaml index 774fbddb3..8b110ecf7 100644 --- a/policyengine_canada/parameters/gov/cra/tax/income/income_tax_schedule.yaml +++ b/policyengine_canada/parameters/gov/cra/tax/income/income_tax_schedule.yaml @@ -6,6 +6,8 @@ brackets: rate: values: 2021-01-01: 0.15 + 2025-01-01: 0.145 + 2026-01-01: 0.14 - threshold: values: 2019-01-01: 47_630 @@ -13,6 +15,8 @@ brackets: 2021-01-01: 49_020 2022-01-01: 50_197 2023-01-01: 53_359 + 2024-01-01: 55_867 + 2025-01-01: 57_375 rate: values: 2021-01-01: 0.205 @@ -20,9 +24,11 @@ brackets: values: 2019-01-01: 95_259 2020-01-01: 97_069 - 2021-01-01: 98_040 + 2021-01-01: 98_040 2022-01-01: 100_392 2023-01-01: 106_717 + 2024-01-01: 111_733 + 2025-01-01: 114_750 rate: values: 2021-01-01: 0.26 @@ -30,9 +36,11 @@ brackets: values: 2019-01-01: 147_667 2020-01-01: 150_473 - 2021-01-01: 151_978 + 2021-01-01: 151_978 2022-01-01: 155_625 2023-01-01: 165_430 + 2024-01-01: 173_205 + 2025-01-01: 177_882 rate: values: 2021-01-01: 0.29 @@ -43,6 +51,8 @@ brackets: 2021-01-01: 216_511 2022-01-01: 221_708 2023-01-01: 235_675 + 2024-01-01: 246_752 + 2025-01-01: 253_414 rate: values: 2021-01-01: 0.33 @@ -54,7 +64,23 @@ metadata: name: federal_tax_rates label: Federal tax rates reference: - - title: Government of Canada - 9.2.4 Tax brackets and rates - href: https://www.canada.ca/en/financial-consumer-agency/services/financial-toolkit/taxes-quebec/taxes-quebec-2/5.html - - title: Government of Canada - Canadian income tax rates for individuals 2023 + # 2019-2020 rates + - title: Government of Canada - Canadian income tax rates for individuals href: https://www.canada.ca/en/revenue-agency/services/tax/individuals/frequently-asked-questions-individuals/canadian-income-tax-rates-individuals-current-previous-years.html + # 2021 rates + - title: T4127 Payroll Deductions Formulas - 113th Edition (2021 rates) + href: https://www.canada.ca/en/revenue-agency/services/forms-publications/payroll/payroll-deductions-t4127-payroll-deductions-formulas/t4127-jan-113th-edition-effective-january-1-2021/t4127-jan-payroll-deductions-formulas-computer-programs.html + # 2022 rates + - title: T4127 Payroll Deductions Formulas - 115th Edition (2022 brackets at 15%/20.5%/26%/29%/33%) + href: https://www.canada.ca/en/revenue-agency/services/forms-publications/payroll/payroll-deductions-t4127-payroll-deductions-formulas/t4127-jan-115th-edition-effective-january-1-2022/t4127-jan-payroll-deductions-formulas-computer-programs.html + # 2023 rates + - title: T4127 Payroll Deductions Formulas - 117th Edition (2023 brackets at 15%/20.5%/26%/29%/33%) + href: https://www.canada.ca/en/revenue-agency/services/forms-publications/payroll/payroll-deductions-t4127-payroll-deductions-formulas/t4127-jan-117th-edition-effective-january-1-2023/t4127-jan-payroll-deductions-formulas.html + # 2024 rates + - title: T4127 Payroll Deductions Formulas - 119th Edition (2024 brackets at 15%/20.5%/26%/29%/33%) + href: https://www.canada.ca/en/revenue-agency/services/forms-publications/payroll/payroll-deductions-t4127-payroll-deductions-formulas/t4127-jan-119th-edition-effective-january-1-2024/t4127-jan-payroll-deductions-formulas-computer-programs.html + # 2025 rates — first bracket rate reduced from 15% to 14.5% pending enactment + - title: T4127 Payroll Deductions Formulas - 120th Edition (2025 brackets at 14.5%/20.5%/26%/29%/33%) + href: https://www.canada.ca/en/revenue-agency/services/forms-publications/payroll/t4127-payroll-deductions-formulas/t4127-jan/t4127-jan-payroll-deductions-formulas-computer-programs.html + - title: Department of Finance - Delivering a middle-class tax cut (2025 rate reduction) + href: https://www.canada.ca/en/department-finance/news/2025/05/delivering-a-middle-class-tax-cut.html diff --git a/policyengine_canada/tests/gov/cra/tax/income/credits/age_amount_credit.yaml b/policyengine_canada/tests/gov/cra/tax/income/credits/age_amount_credit.yaml index a16adb48e..9e92e6536 100644 --- a/policyengine_canada/tests/gov/cra/tax/income/credits/age_amount_credit.yaml +++ b/policyengine_canada/tests/gov/cra/tax/income/credits/age_amount_credit.yaml @@ -1,12 +1,12 @@ -- name: Eligible person with income below the rduction line +- name: Eligible person with income below the reduction line period: 2022 input: total_individual_pre_tax_income: 38_000 age: 65 output: - age_amount_credit: 7_713 + age_amount_credit: 7_898 -- name: Uneligible; should be 0 +- name: Ineligible; should be 0 period: 2022 input: total_individual_pre_tax_income: 38_000 @@ -14,7 +14,7 @@ output: age_amount_credit: 0 -- name: Eligible with income over threshhold; should be 0 +- name: Eligible with income over threshold; should be 0 period: 2022 input: total_individual_pre_tax_income: 100_000 @@ -22,10 +22,10 @@ output: age_amount_credit: 0 -- name: Eligible with income of 60_000; should be 7_713 - ((60_000-38_893)*0.15) = +- name: Eligible with income of 60_000; should be 7_898 - ((60_000-39_826)*0.15) = 4_871.9 period: 2022 input: total_individual_pre_tax_income: 60_000 age: 66 output: - age_amount_credit: 4_546.95 + age_amount_credit: 4_871.9 diff --git a/policyengine_canada/tests/gov/cra/tax/income/credits/basic_personal_amount/basic_personal_amount.yaml b/policyengine_canada/tests/gov/cra/tax/income/credits/basic_personal_amount/basic_personal_amount.yaml index 05f6758da..3a4207500 100644 --- a/policyengine_canada/tests/gov/cra/tax/income/credits/basic_personal_amount/basic_personal_amount.yaml +++ b/policyengine_canada/tests/gov/cra/tax/income/credits/basic_personal_amount/basic_personal_amount.yaml @@ -1,6 +1,6 @@ - name: Maximum 2023 BAP amount period: 2023 input: - basic_personal_amount_supplement: 1_479 + basic_personal_amount_supplement: 1_480 output: basic_personal_amount: 15_000 diff --git a/policyengine_canada/tests/gov/cra/tax/income/credits/dtc/dtc_base.yaml b/policyengine_canada/tests/gov/cra/tax/income/credits/dtc/dtc_base.yaml index 8f89be641..4e9cf1ec9 100644 --- a/policyengine_canada/tests/gov/cra/tax/income/credits/dtc/dtc_base.yaml +++ b/policyengine_canada/tests/gov/cra/tax/income/credits/dtc/dtc_base.yaml @@ -1,9 +1,9 @@ -- name: Eligible person +- name: Eligible person period: 2022 input: dtc_eligible: true output: - dtc_base: 8_662 + dtc_base: 8_870 - name: Uneligible person period: 2022 diff --git a/policyengine_canada/tests/gov/cra/tax/income/credits/dtc/dtc_child_supplement.yaml b/policyengine_canada/tests/gov/cra/tax/income/credits/dtc/dtc_child_supplement.yaml index 114c0b828..566776268 100644 --- a/policyengine_canada/tests/gov/cra/tax/income/credits/dtc/dtc_child_supplement.yaml +++ b/policyengine_canada/tests/gov/cra/tax/income/credits/dtc/dtc_child_supplement.yaml @@ -6,13 +6,13 @@ output: dtc_child_supplement: 0 -- name: Under the ineligible age and disabled; should be 5_053 +- name: Under the ineligible age and disabled; should be 5_174 period: 2022 input: dtc_eligible: true age: 17 output: - dtc_child_supplement: 5_053 + dtc_child_supplement: 5_174 - name: Not disabled; should be 0 period: 2022