T1135 Foreign Asset Reporting Form Revised-The 2013 transitional reporting method for reporting aggregate amounts by brokerage has been revised to be used for 2014 and later taxation years.

Unlock Your Federal Locked-in Accounts-Financial hardship unlocking, one of the several unlocking methods available, can be done once per year unless maximum not withdrawn-then the second unlocking can be done but only within 30 days of the first unlocking.

First-time Donor's Super Credit-This new credit for first-time donors gives an extra 25% credit for cash donations when you claim your charitable donations credit.  This means you can get a 40% federal credit for up to $200 in donations and a 54% credit for the part of the donations that is over $200 but not more than $1,000.  This is in addition to the provincial credit.  For more information, go to http://www.cra-arc.gc.ca/fdsc/

Family Care Giver Amount-If you have a dependant with an impairment in physical or mental functions, the additional amount you may be able to claim has increased to $2,040 when calculating certain non-refundable tax credits.  For more information, go to www.cra.gc.ca/familycaregiver.

Pooled Registered Pension Plan (PRPP)-The PRPP is a new retirement savings option for individuals, including those who are self-employed.  For more information, go to http://www.cra-arc.gc.ca/prpp/.

Adoption Expenses-The period to claim adoption expenses has been extended for adoptions finalized in 2013 and later years.

Investment Tax Credit-Eligibility for the mineral exploration tax credit has been extended to flow-through share agreements entered into before April 1, 2014,

Tax-Free Savings Account (TFSA)-The annual TFSA dollar limit increased to $5,500 on January 1, 2013, for the 2013 contribution year, an remains at that amount for the 2014 contribution year.

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