Version 2021.1.0

Summary of Changes:

The two most significant changes with this version of ChildView®, are the addition of the 2021 tax and benefit calculations and the redesigned “Summary of Data Input” report.

Program Changes:

  1. This version includes an estimate of the 2021 tax and benefit calculations based on the announced federal, provincial and territorial indexation rates, and confirmed by various government sources.
  2. The completely redesigned “Schedule C – Summary of Data Input” report has been included in this version.  These changes make this report more readable and even more informative.
  3. The installation package for the “Workstations with Floating License” installations has been redone to resolve various issues that had arisen.
  4. Terminology within the program and reports has been updated to reflect the wording in the amendments to the Divorce Act with respect to “parenting time”.
  5. The data input fields for the federal COVID-19 initiatives have been fixed so that the entries are now retained and will flow through to the calculations.
  6. The Help file continues to be updated and enhanced to provide users with additional information and assistance.
     

Income Tax Changes:

  1. Version 2021.1.0 of ChildView® includes an estimate of all the 2021 income tax and benefits changes across Canada.  Please see the details by jurisdiction below.

 

Federal Changes:

  1. Per Bill 14, which was tabled in parliament on November 30, 2020, the four quarterly enhancements to the Canada Child Benefit (CCB) for children under the age of six have been added to the benefits calculations for 2021, in anticipation of the bill being passed.  The federal government intends to provide an additional $300 per child under the age of six for families with net incomes of $120,000 or less and $150 per child under the age of six for families with net incomes over $120,000 who would otherwise received a CCB payment.  One half of these amounts will be paid for eligible children of “shared custody parents”.  “Shared custody parent” is a term defined by the Income Tax Act and should not be confused with “shared parenting time” that is defined in the Child Support Guidelines.  The increased CCB amounts were to be included in the January, April, July and October 2021 payments; however, the timing will change depending on when the bill is passed.
  2. The federal income tax and benefits calculations have been updated for the 2021 indexation rate of 1%.  The government benefits (CCB and GST credit) for July to December 2021 are estimated based on the information available at this time.
  3. CERB and other federal government COVID-19 initiatives qualify as “earned income” for purposes of the child care expense and disability supports tax deductions.  EI income does not. On January 19, 2021 the federal government proposed to include EI income in the definition of “earned income” for the purposes of the child care expense and disability supports tax deductions for 2020 and 2021 only, to correct this discrepancy.  As a result, ChildView® will include EI and the federal initiatives found on the “Applicable Tax” tab screen in the determination of the child care deduction maximum for the 2020 and 2021 tax years.
  4. The Canada Student Service Grant (CSSG), announced by the federal government on June 25, 2020, never got off the ground due to the WE Charity scandal, so these fields have been removed from the program.  Most applicants received funding from the CESB or other student financing sources.


Province Specific Changes:

Alberta:
•    Per the announcement by the Alberta government on February 10, 2021, the new “Critical Workers Benefit” has been included in this version.  This is a joint federal-provincial program that provides a one-time $1,200 payment to low-wage, critical workers in the health care, social services, education and private sectors, in recognition of their hard work and sacrifice during the second wave for the COVID-19 pandemic.  Eligible individuals, who worked a minimum of 300 hours during the period of October 12, 2020 to January 31, 2021, will receive this benefit distributed through their employers.  Applications are automatic for those in the public sector, while employers in the private sector have to apply for the benefit on behalf of their eligible employees.  An input field for this initiative is found on the “Applicable Tax” tab screen under “Annual Income & Deductions”.  By default, ChildView® is including entries in this input field in "benefits."
•    With the reduction in the general provincial corporate tax rate to from 10% to 8%, effective July 2020, the dividend tax credit on eligible dividends has also been reduced to 8.12% as of January 1, 2021, per Bill 35, which received royal assent December 9, 2020.  This change is included in this version of ChildView®.
•    The federal Climate Action Incentive Payments that will be paid on the 2020 personal tax returns have been revised to the amounts announced December 16, 2020.
•    The federal Climate Action Incentive Payments that will be calculated on the 2021 personal tax returns have been estimated based on information provided by the government of Canada’s Department of Environment and natural resources.  These amounts will be adjusted where necessary when further information is provided.

British Columbia:
•    December 8, 2020, the BC government introduced legislation for the “BC Recovery Benefit” which will give eligible families, including single parents, with net incomes under $125,000 with a one-time tax free $1,000.  The benefit is reduced for families and single parents with net incomes of up to $175,000.  For eligible individuals, the benefit is $500 for those with net incomes up to $62,500 and will be reduced for net incomes up to $87,500.  Those with a “shared” parenting arrangement are considered individuals, rather than a family, unless they are the principal caregiver of at least one child.  If the person is a “shared custody parent” for CCB purposes, they are not considered a principal caregiver for that child.

Manitoba:
•    The federal Climate Action Incentive Payments that will be paid on the 2020 personal tax returns have been revised to the amounts announced December 16, 2020.
•    The federal Climate Action Incentive Payments that will be calculated on the 2021 personal tax returns have been estimated based on information provided by the government of Canada Department of Environment and natural resources.  These amounts will be adjusted where necessary when further information is provided.

Northwest Territories:
•    The Northwest Territories “Cost of Living Offset” for July 2021 is included in this release and has been estimated based on the per tonne carbon pricing announced by the federal government and the calculation enumerated by the territorial government.

Ontario
•    The federal Climate Action Incentive Payments that will be paid on the 2020 personal tax returns have been revised to the amounts announced December 16, 2020.
•    The federal Climate Action Incentive Payments that will be calculated on the 2021 personal tax returns have been estimated based on information provided by the government of Canada Department of Environment and natural resources.  These amounts will be adjusted where necessary when further information is provided.

Prince Edward Island:
•    Per Bill 58, which received royal assent July 14, 2020, PEI has introduced a new “Children’s Wellness” tax credit for expenditures on artistic, cultural, recreational or development activities for eligible children that is effective starting 2021.  This new, non-refundable tax credit is a maximum of $500 per child for eligible children under the age of 18 and may be shared between the parents.  It will impact the calculation of child support through section 7 of the Child Support Guideline as it pertains to extra-curricular activities.
•    Also per Bill 58, this release includes the increases to the basic personal amount, the AED tax credit, the spousal tax credit and the increase to the low-income tax reduction threshold as of January 1, 2021.  The income threshold for the low income reduction has increased to $19,000 for 2021 and later years.
•    As a flow through from the reduction of the small business tax rate, the decrease to the “other than eligible dividends” (small business dividends) tax credit from 2.74% to 1.96% is part of the 2021 update.

Saskatchewan:
•    As announced on June 15, 2020, Saskatchewan as reinstated the indexation of its provincial personal income tax starting in 2021.  The 2021 tax brackets and non-refundable credits reflect the announced indexation rate of 1%.
•    Per Bill 2, introduced December 7, 2020, the dividend tax credit rate for “other than eligible dividends” (small business dividends) will decrease from 3.36% to 1.70% for 2021.
•    Per the announcement by the newly re-elected Saskatchewan Party in October, 2020, the “Active Families Benefit” has been reinstated.  This calculation has been added to the 2021 tax calculations on the assumption that Saskatchewan’s spring 2021 budget will make it effective for the 2021 tax year as implied by the government announcements.  This benefit is also calculated for the 2009 through 2015 tax years.
•    The federal Climate Action Incentive Payments that will be paid on the 2020 personal tax returns have been revised to the amounts announced December 16, 2020.
•    The federal Climate Action Incentive Payments that will be calculated on the 2021 personal tax returns have been estimated based on information provided by the government of Canada Department of Environment and natural resources.  These amounts will be adjusted where necessary when further information is provided.

Yukon:
•    The Yukon carbon rebate for 2021 has been estimated based on the original announcement by the Yukon government.  This amount will be adjusted if necessary when further information is available.
•    The Yukon “other than eligible” dividend tax credit rate has been adjusted based on the reduction of the small business tax rate to 0%.
 

If you have any questions please call 780-433-8111 (in the local Edmonton area) or 1-800-787-8620 (in all other locations) or email us at cvtech@childview.ca.

Download the latest software update from the link below.

                 https://childview.filemail.com/d/upyyitativindbi (EXE version)

                 https://childview.filemail.com/d/cjkmslnylonvnyv (MSI version, needs admin rights to install)

Download the latest standalone full installer version from the link below if you are reinstalling ChildView.

                  https://childview.filemail.com/d/cjkmslnylonvnyv

Release 2020.1.0.pdfChildView release letter 2021.1.0 February 22, 2021

Site Map | Login | Powered By: Techweavers Inc.