OTTAWA, ONTARIO -- (Marketwire) -- 04/18/12 -- The volunteer firefighters tax credit (VFTC) is a non-refundable tax credit available to any volunteer firefighter who completed at least 200 hours of eligible volunteer firefighting services with one or more fire departments in the year.
-- The VFTC is calculated by multiplying the lowest personal income tax
rate for the year (15% in 2011) by $3,000. For 2011, the non-refundable
tax credit will be $450.
-- You can apply for this credit when filling out your 2011 personal income
tax and benefit return.
-- To be eligible for the tax credit you must have been a volunteer
firefighter in the year for which you are claiming the credit and must
have completed a minimum of 200 hours of eligible volunteer firefighter
services which must primarily include:
-- responding to and being on call for emergency calls as a
-- attending fire department meetings; and
-- participating in required training related to preventing and
-- As a volunteer firefighter, you may be eligible for an income exemption
of up to $1,000 if you received payment for carrying out volunteer
firefighter duties. If you choose to claim this exemption, you will not
be eligible for the new VFTC.
-- In general, the fire department should determine how many hours of
eligible volunteer firefighter service you have completed in the year.