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.
The size is base on the $$$$$. These rules result in different types of actions âmicro purchase; simplified or small purchase, and large purchaseâ¢Micro purchase. $3000 or less; usually accomplished with a government purchase cardâ¢Small Purchase. Less than $150,000. Usually a Request for Quote âRFQââ¢Large Purchase.