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New for 2010
- Universal Child Care Benefits (UCCB)
If you were a single parent on December 31, 2010, you can choose to include all UCCB amounts you received in 2010 in the income of a dependant. For more information, see line 117 - Universal Child Care Benefit (UCCB).
- Election to defer security option benefits
If you exercised an option and bought eligible securities after 4:00 p.m. EST on March 4, 2010, the election to defer the security option benefits will no longer be available for those securities. For more information about security option benefits, see line 101 - Security option benefits.
- Special relief for tax deferral elections on security option benefits
You may elect for special relief in respect of gains from a disposition of eligible
securities on which you elected in a previous year to defer the security option benefits. For more information, see Form RC310, Election for Special Relief for Tax Deferral Election on Employee Security Options, or Guide T4037, Capital Gains.
- Scholarship exemption and education amount
Post-secondary programs consisting mainly of research are eligible for the scholarship exemption and the education amount only if they lead to a college or CEGEP diploma, or a bachelor, masters, or doctoral (or equivalent) degree. Post-doctoral fellowships are taxable. For more information, see Pamphlet P105, Students and Income Tax.
- U.S. Social security benefits
If you received U.S. Social Security benefits in 2010, you may be eligible to claim a deduction of 50% of the benefits received. For more information, see line 256 - Exempt foreign income.
- Employment insurance premiums on self-employment and other eligible earnings
You may be able to enter into an agreement with the Canada Employment Insurance Commission through Service Canada to participate in the new Employment Insurance (EI) Measure for Self-Employed People. For information on how to calculate your premiums, see line 317 - Employment Insurance premiums on self-employment and other eligible earnings and line 430 - Employment Insurance premiums payable on self-employment and other eligible earnings.
- Medical expenses
Cosmetic procedures and related expenses qualify as a medical expense when incurred after March 4, 2010, only if they are required for medical or reconstructive purposes. For more information, see Guide RC4064, Medical and Disability-Related Information.
- Investment tax credit
Eligibility for the mineral exploration tax credit has been extended to flow-through share agreements entered into before April 1, 2011. For more information, see line 412 - Investment tax credit.
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