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- What is new in TurboTax 2011
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What is new in TurboTax 2011
Updated: Dec 19, 2011
Article ID: INF17319
New Tax Credits
- Children's Arts Credit - Line 370
- You can claim an amount for eligible expenses paid for the registration or membership of your child in a prescribed program of artistic, cultural, recreational, or developmental activity.
Claim in the Claims for Dependants section of Deductions
- You can claim an amount for eligible expenses paid for the registration or membership of your child in a prescribed program of artistic, cultural, recreational, or developmental activity.
- Volunteer Firefighter's amount - Line 362
- As a volunteer firefighter, you may be able to claim an amount of $3,000 if both the following apply:
- you were a volunteer firefighter during the year; and
- you completed at least 200 hours of eligible volunteer firefighting services with one or more fire departments in the year
- As a volunteer firefighter, you may be able to claim an amount of $3,000 if both the following apply:
- Allowable amount of medical expenses for other dependants - Line 331
- The maximum $10,000 limit per eligible dependant has been removed for the allowable amount of medical expenses for other dependants. All provinces followed suit except NT ($5,000), BC ($10,000) & ON ($11,107).
- The maximum $10,000 limit per eligible dependant has been removed for the allowable amount of medical expenses for other dependants. All provinces followed suit except NT ($5,000), BC ($10,000) & ON ($11,107).
- Manitoba Fitness Amount
- The Manitoba provincial children’s fitness amount has been changed to the Fitness amount. It can also be claimed for young adults under 25 years of age
- Since the credit is no longer specific to children, the Manitoba Provincial Fitness Amount is separate from the federal Children’s Fitness Credit.
- The Manitoba Fitness amount is claimed in the Provincial section of the EasyStep Interview
- Saskatchewan Pension Plan (SPP)
- Income - Line 155: SPP income is now eligible for the pension income amount. You and your spouse or common-law partner may be able to split the income from the plan
- Contributions - Line 208: Line 209 has been removed. All SPP contributions are now reported with RRSP contributions, but they still have their own contribution limit ($2500 per person limited by RRSP deduction room)
- Québec Changes
- Property tax credit reminder:
- The Property Tax refund is no longer available directly on the tax return
- The Property Tax credit is now calculated by the solidarity tax credit paid every month. You will complete Schedule D in TurboTax to apply for the credit
- The Relevé 4 no longer exists
- Health contribution Increase - line 448:
- This contribution was new last year.
- Adults (older than 18) with income greater than the target fixed by government paid $25 per person
- This year it increased to $100 per person.
- Relevé 1 - New Boxes
- There are several new boxes that may apear in the Footnotes section of the RL1
- A full brakdown of each box is available at http://www.revenuquebec.ca/documents/en/formulaires/rl/RL-1-T%282011-10%29.pdf
- The newly added boxes can be viewed in the section "Boxes under Renseignements complémentaire (Additional Information)"
- Property tax credit reminder:
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