2019 Tax Changes Individuals and Families

Change of Use Rules for Multi-Unit Residential Properties

Currently when a property, or part of property, is converted from an income producing property to some other purpose a deemed disposition occurs. Historically, when the entire property was converted into another use is now available for changes in use of parts of the property.

Capital Cost Allowance (CCA) Accelerated Investment Incentive

Starting with capital asset acquisitions purchased on or after November 21, 2018, an enhanced temporary first year CCA rate, called the accelerated investment incentive, has been introduced that effectively triples the regular first-year capital cost allowance.

Capital Cost Allowance (CCA) Accelerated Investment Incentive

Starting with capital asset acquisitions purchased on or after November 21, 2018, an enhanced temporary first year CCA rate, called the accelerated investment incentive, has been introduced that effectively triples the regular first-year capital cost allowance.

Support for Canadian Journalism: Non-refundable Tax credit for Digital Subscriptions

Starting in 2019, a 15% non-refundable tax credit on amounts paid by individuals for eligible digital news subscriptions, subject to a cap of $500 ($75 credit).

Home Buyers Plan

Increase to the withdrawal limit from RRSP’s for first time homebuyers from $25,000 to $35,000. In addition, it will extend access to the plan for individuals who have experienced a marriage or common-law partnership breakdown, who would otherwise not qualify because they do not meet the first time home buyer requirement.

Canada Training Credit

A new refundable tax credit is avaliable for individuals between the ages of 25 and 64 pursuing professional development. Individuals will accumulate $250 per year in a notional account if the person meets certain income and residency criteria up to a maximum of $5,000 over thier lifetime.