C-20114470Elizabeth II2021An Act to amend the Income Tax Act (volunteer firefighting and search and rescue volunteer services)An Act to amend the Income Tax Act (volunteer firefighting and search and rescue volunteer services)202111

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Mr. Johns441024

SUMMARYThis enactment amends subsections 118.06(2) and 118.07(2) of the Income Tax Act in order to increase the amount of the tax credits for volunteer firefighting and search and rescue volunteer services from $3,000 to $10,000.

Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows:R.S., c. 1 (5th Supp.)Income Tax Act

1The portion of subsection 118.06(2) of the Income Tax Act before paragraph (a) is replaced by the following:Volunteer firefighter tax credit(2)For the purpose of computing the tax payable under this Part for a taxation year by an individual who performs eligible volunteer firefighting services in the year, there may be deducted the amount determined by multiplying $10,000 by the appropriate percentage for the taxation year if the individual

2The portion of subsection 118.07(2) of the Act before paragraph (a) is replaced by the following:Search and rescue volunteer tax credit(2)For the purpose of computing the tax payable under this Part for a taxation year by an individual who performs eligible search and rescue volunteer services in the year, there may be deducted the amount determined by multiplying $10,000 by the appropriate percentage for the taxation year if the individual

Application3Sections 1 and 2 apply to the 2022 and subsequent taxation years.