Tax credit for Search & Rescue and volunteer firefighters

Tax Tips with Lana Laskovic of Armour Mountain Office Services

  • Mar. 4, 2015 6:00 p.m.
Lana Laskovic of Armour Mountain Office Services

Lana Laskovic of Armour Mountain Office Services

Starting in 2014, there is a new non-refundable tax credit, based on an amount of $3,000, for certain search and rescue volunteers.

The new Search and Rescue Volunteer Tax Credit (SRVTC) will be calculated by multiplying the lowest personal income tax rate for the year by $3,000. For 2014, the credit will be $450 (15 % x $3,000).

Are you a search and rescue volunteer. Do you qualify for the SRVTC?

A search and rescue volunteer must perform at least 200 hours of eligible services in the year, each of which is an hour of:

• Eligible search and rescue volunteer services for an eligible search and rescue organization; or

• Eligible volunteer firefighting services for a fire department. For more information visit  www.cra-gc.ca/firefighter/

The hours volunteered for both search and rescue and firefighter activities can be combined. However, you can only claim one credit for the year, either the Volunteer Firefighter Tax Credit (VFTC) or the SRVTC.

However, if you were also engaged by the same organization (other than as a volunteer) for the same or similar duties, you cannot include any hours related to that organization in determining if you have met the 200-hour threshold.

If you have any questions about the new Search and Rescue Volunteer Tax Credit or the Volunteer Firefighter Tax Credit please contact us at:  Armour Mountain Office Services, #1 – 4353 Connor Road, Barriere, B.C., V0E 1E0.  Or call 250-672-9994, or email: ambats@live.ca