Many benefits, such as Canada Child Tax Benefit (CCTB), are determined by the income reported on the T1 returns. If returns are not filed, benefits will be unavailable. Registered Retirement Savings Plan (RRSP) contribution room is also depends on the taxpayer's reported income.
The threshold for use of simplified acquisition procedures for acquisition of commercial items (FAR 13.500) is raised from $6.5 million to $7 million. The cost or pricing data threshold (FAR 15.403-4) and the statutorily equivalent Cost Accounting Standard threshold are raised from $700,000 to $750,000.
Acquisition Cost. 1. The total cost for a firm to buy an asset. The acquisition cost includes all legal fees, closing costs, or other increases. Likewise, it makes allowances for discounts.Importantly, however, the acquisition cost does not include any applicable sales tax. 2.he acquisition cost includes all legal fees, closing costs, or other increases. Likewise, it makes allowances for discounts. Importantly, however, the acquisition cost does not include any applicable sales tax.