Teachers, farmers, businesses soon eligible for tax credits as Liberal bill passes

·1 min read

OTTAWA — Teachers, farmers and some business owners will soon receive new tax breaks after a six-month-old bill passed third reading in the Senate today.

The government's fall economic statement was first tabled in mid-December but moved slowly through the House of Commons, with Liberal and NDP MPs working together to pass it in early May.

Because it's been held up in debate, the tax measures included in the bill were not available in time for income tax filing deadlines.

That includes an expansion of the school supplies tax credit, a fuel tax refund for farmers in jurisdictions using the federal carbon price, an expansion of the Northern travel allowance and a tax credit for businesses that made ventilation improvements as a result of COVID-19.

Meanwhile, the federal budget bill passed third reading in the House of Commons today and will now be considered by the Senate, marking another hurdle passed for the Trudeau government's latest spending promises.

The NDP has agreed to work with the Liberals to pass budget-related legislation and prop up the minority government on confidence votes until 2025.

This report by The Canadian Press was first published June 9, 2022.

The Canadian Press

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting