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What's new for 2009?
The following is a list of changes for 2009 as published by Canada Revenue Agency:
Registered disability savings plan (RDSP) - (lines 125 and 232) - The deadline for opening an RDSP, making contributions, and applying for the matching grant and the income-tested bond for 2008 was extended from December 31, 2008, to
March 2, 2009. The 2009 RDSP contribution year began March 3, 2009.
Apprenticeship completion grant (line 130) - Enter on line 130
income received from an apprenticeship completion grant.
Basic personal amount (line 300) - The amount has increased to $10,320.
Age amount (line 301) - The maximum amount has increased to $6,408.
Spouse or common-law partner amount (line 303) - The maximum
amount has increased to $10,320.
Amount for an eligible dependant (line 305) - The maximum amount
has increased to $10,320.
Home renovation expenses (line 368) - For 2009 only, you can
claim an amount for eligible expenses incurred for work performed or goods acquired after
January 27, 2009, and before February 1, 2010.
Home buyers' amount (line 369) - You can claim an amount of
$5,000 if you purchased a qualifying home after January 27, 2009 (closing after this date).
Investment tax credit (line 412) - The deadline to claim the
mineral exploration tax credit on qualifying expenses renounced under flow-through share agreements has been extended to March 31, 2010.
New payment method - You may be able to pay online using the My Payment option.
Home Buyers' Plan (HBP) - The maximum amount you can withdraw from an RRSP under the HBP has increased to $25,000. .
Final return of a deceased person - If an unmatured RRSP or RRIF of a deceased person decreases in value following death, and the final payment from that RRSP or RRIF is made after 2008, a deduction may be claimed on the final return of the deceased person for that decrease in value. F
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