Tuesday March 22, 2016 | 2016 Federal Budget (page 82)
2016 Federal Budget
Chapter 1 > Introducing a Teacher and Early Childhood Educator School Supply Tax Credit
In recognition of the costs educators often incur at their own expense for supplies that enrich our children’s learning environment, Budget 2016 proposes a new Teacher and Early Childhood Educator School Supply Tax Credit.
The proposed 15-per-cent refundable income tax credit will apply on up to $1,000 of eligible supplies (such as paper, glue and paint for art projects, games and puzzles, and supplementary books). The proposal will apply to the 2016 and subsequent tax years and will provide a benefit worth about $140 million over the 2015–16 to 2020–21 period.