Confirmed: The CCR for Small Business is Tax Free
Ottawa has confirmed that the CCR for Small Business received by eligible Canadian-controlled private corporations (CCPCs) will be tax free for the 2019-20 to 2023-24 fuel charge years, as will the final payment for the 2024-2025 fuel charge year. Draft legislation was released on June 30, 2025 with this announcement; and will be introduced for law making in Parliament this Fall. Some of the more significant details are discussed below.The Enhanced Children’s Fitness Tax Credit
On October 9, 2014, the federal government announced that the maximum amount of expenses that can be claimed under the Children’s Fitness Tax Credit (CFTC) will be increased from $500 to $1,000, and proposes to make it a refundable tax credit in 2015 and subsequent tax years.
Maximum CPP Premiums for Self-Employed Close to $5000
The CRA has announced the maximum CPP pensionable earnings for 2015: $53,600 up from $52,500 in 2014.
What you’ve said about capital costs for passenger vehicles
92% voted a resounding YES to increasing the maximum limit on capital cost for passenger vehicles in Class 10.1 above $30,000 plus taxes.
Child Care Expense Deduction
Parents who claim babysitting expenses will be happy with the new enhancements to the child care expense deduction on line 214.
Effective 2015 and subsequent taxation years, the maximum dollar amounts that may be claimed for each child will increase by $1,000. For children under the age of 7, the maximum claim will increase from $7,000 to $8,000, for children aged 7 to 16 (and for infirm dependent children over the age of 16) the maximum claim will increase from $4,000 to $5,000, and for children who are eligible for the Disability Tax Credit the maximum claim will increase from $10,000 to $11,000.
Child Care Expenses can be deducted from the income of the lower-income spouse when the expenses are incurred to earn employment or business income, perform research or pursue an education. The maximum amount that can be claimed each year is limited to the least of:
the total amount spent on child care expenses;
two thirds of the lower-income taxpayer’s earned income; and
the total of the maximum dollar limits allowed for all* children as mentioned above.
The amounts are claimed on Form T778 and receipts are required to back up the claim.
*Note that the third limit is applied to all children in the family, not just those for whom child care expenses are claimed.
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