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Canada

29 July 2013

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Economic Action Plan 2013, Act No. 1 – passed by government

On 10 June 2013, the Minister of Finance announced the passage of Bill C-60, the Economic Action Plan 2013 Act, No. 1 (the Act), by the House of Commons.

The tax measures included in the Act are as follows:

-   an extension for 2 years of the temporary accelerated capital cost allowance for new investments in machinery and equipment by Canadian manufacturers;
-   a 1-year extension of the Mineral Exploration Tax Credit for flow-through share investors;
-   enhancements to the Adoption Expense Tax Credit to better recognize the costs of adopting a child;
-   the introduction of a new, temporary First-Time Donor's Super Credit for first-time claimants of the Charitable Donations Tax Credit to encourage all young Canadians to donate to charity;
-   an expansion of tax relief for home care services to better meet the health care needs of Canadians;
-   the removal of tariffs on imports of baby clothing and certain sports and athletic equipment; and
-   streamlining the process for approving tax relief for Canadian Armed Forces members and police officers deployed to international missions

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