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.
In the future, acquisition fees of $795-$995 will be common. For additional information about car lease acquisition fees and other leasing charges and sales taxes, see Lease Fees and Taxes. The term, acquisition fee, as it relates to car leasing, refers to an administrative fee that is included in all leases. It is sometimes called a âbank feeâ or âassignment fee.â The fee is sometimes not disclosed in a lease contract.