Approximately 5,900 volunteer firefighters in this province will soon receive a tax credit when the amendment to the Income Tax Act, 2000 is passed into law.
Government’s amendment got a second reading in the House of Assembly recently.
When passed, the non-refundable tax credit of $3,000 will be worth $231 to each volunteer firefighter who performs at least 200 hours of eligible firefighting services each taxation year.
The credit is retroactive to Jan. 1, 2011, so those who qualify will be able to use the credit when they file their taxes this year.
“I was very pleased to have the opportunity to speak on this new tax credit...” said Finance Minister Tom Marshall. “The amount of time and effort that volunteer firefighters put into training and responding to emergencies is significant. This credit is recognition of the work that these men and women perform in their spare time while putting the well-being of their communities ahead of their own interests.”
Minister Responsible for Fire and Emergency Services, Kevin O’Brien said firefighters throughout the province keep telling him how pleased they are with the tax credit.
“Our volunteer firefighters provide an immeasurable service to our towns and communities and we are certainly honoured to further support their dedicated service with this initiative.”