TD1 - Personal Tax Credits revised July 2007

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To:	Department Heads, Directors and Administrative Officers
From:	Kelly D. Read - Manager - Payroll Operations
Date:	June 27, 2007
Subject:	Federal TD1 changes for July 1, 2007

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The Federal TD1 has been revised to include a new non-refundable tax credit amount of $2000.00 in respect of children under 18 years of age at the end of 2007. If a child born in 1990 or later resides with both parents throughout the year, either parent (but not both) may claim a $2000 personal amount. In addition, under the proposed changes, the spouse or common-law partner amount and the amount for an eligible dependent increase from a maximum of $7581 to a maximum of $8929. The amount will be reduced by the partner or eligible dependent's net income for 2007. A revised Federal TD1 - Personal Tax credits is now available from the following web sites:

Canada Revenue Agency

<old link removed>

or Financial Services Division

http://www.usask.ca/fsd

As a reminder, it is your responsibility to review your personal tax credits annually and if required complete a new TD1. This would include employees who have claimed tax exempt.