Merge pull request #511 from MaxGhenis/federal-2024-2025-tax-updates

Add federal tax parameters for 2024 and 2025

Author: PavelMakarchuk

changelog.d/federal-2024-2025-params.added.md

@@ -0,0 +1 @@
+Updated all federal CRA parameters through 2025: income tax brackets and rates (including 14.5% lowest bracket for 2025, 14% for 2026), Basic Personal Amount, Age Amount credit, Canada Employment Amount, Disability Tax Credit, Canada Child Benefit, Child Disability Benefit, Canada Workers Benefit, GST/HST credit, Old Age Security pension and clawback thresholds, Climate Action Incentive amounts for 2023-24 and 2024-25 (including new provinces NB, NL, NS, PE and rural supplement increase to 20%), and Canada Training Credit income thresholds.

policyengine_canada/parameters/gov/cra/benefits/ccb/base.yaml

@@ -2,10 +2,16 @@ description: Canada Child Benefit amount by child age.
 brackets:
   - amount:
       2022-07-01: 6_997
+      2023-07-01: 7_437
+      2024-07-01: 7_787
+      2025-07-01: 7_997
     threshold:
       2022-07-01: 0
   - amount:
       2022-07-01: 5_903
+      2023-07-01: 6_275
+      2024-07-01: 6_570
+      2025-07-01: 6_748
     threshold:
       2022-07-01: 6
   - amount:
@@ -22,3 +28,11 @@ metadata:
   reference:
     - title: Government of Canada - Canada Child Benefit
       href: https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/t4114/canada-child-benefit.html
+    - title: CRA CCB amounts for July 2022 - June 2023 benefit year (max under 6 = $6,997, max 6-17 = $5,903)
+      href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit-overview/canada-child-benefit-ccb-calculation-sheet-july-2022-june-2023-payments-2021-tax-year.html
+    - title: CRA CCB amounts for July 2023 - June 2024 benefit year (max under 6 = $7,437, max 6-17 = $6,275)
+      href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit-overview/canada-child-benefit-ccb-calculation-sheet-july-2023-june-2024-payments-2022-tax-year.html
+    - title: CRA CCB amounts for July 2024 - June 2025 benefit year (max under 6 = $7,787, max 6-17 = $6,570)
+      href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit/canada-child-benefit-ccb-calculation-sheet-july-2024-june-2025-payments-2023-tax-year.html
+    - title: CRA CCB amounts for July 2025 - June 2026 benefit year (max under 6 = $7,997, max 6-17 = $6,748)
+      href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit/canada-child-benefit-ccb-calculation-sheet-july-2025-june-2026-payments-2024-tax-year.html

policyengine_canada/parameters/gov/cra/benefits/ccb/divisor.yaml

@@ -7,3 +7,5 @@ metadata:
   reference:
     - title: Government of Canada - Canada Child Benefit
       href: https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/t4114/canada-child-benefit.html
+    - title: CRA CCB calculation page (shared custody divisor = 2)
+      href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit/canada-child-benefit-ccb-calculation-sheet-july-2024-june-2025-payments-2023-tax-year.html

policyengine_canada/parameters/gov/cra/benefits/ccb/reduction/four_or_more_children.yaml

@@ -9,12 +9,18 @@ brackets:
   - threshold:
       values:
         2022-07-01: 32_797
+        2023-07-01: 34_863
+        2024-07-01: 36_502
+        2025-07-01: 37_487
     rate:
       values:
         2022-07-01: 0.23
   - threshold:
       values:
         2022-07-01: 71_060
+        2023-07-01: 75_537
+        2024-07-01: 79_087
+        2025-07-01: 81_222
     rate:
       values:
         2022-07-01: 0.095
@@ -29,3 +35,11 @@ metadata:
   reference:
   - title: Government of Canada - Canada Child Benefit
     href: https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/t4114/canada-child-benefit.html
+  - title: CRA CCB reduction (4+ children) for July 2022 - June 2023 benefit year (thresholds - $32,797 / $71,060, rates - 23% / 9.5%)
+    href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit-overview/canada-child-benefit-ccb-calculation-sheet-july-2022-june-2023-payments-2021-tax-year.html
+  - title: CRA CCB reduction (4+ children) for July 2023 - June 2024 benefit year (thresholds - $34,863 / $75,537, rates - 23% / 9.5%)
+    href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit-overview/canada-child-benefit-ccb-calculation-sheet-july-2023-june-2024-payments-2022-tax-year.html
+  - title: CRA CCB reduction (4+ children) for July 2024 - June 2025 benefit year (thresholds - $36,502 / $79,087, rates - 23% / 9.5%)
+    href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit/canada-child-benefit-ccb-calculation-sheet-july-2024-june-2025-payments-2023-tax-year.html
+  - title: CRA CCB reduction (4+ children) for July 2025 - June 2026 benefit year (thresholds - $37,487 / $81,222, rates - 23% / 9.5%)
+    href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit/canada-child-benefit-ccb-calculation-sheet-july-2025-june-2026-payments-2024-tax-year.html

policyengine_canada/parameters/gov/cra/benefits/ccb/reduction/one_child.yaml

@@ -9,12 +9,18 @@ brackets:
   - threshold:
       values:
         2022-07-01: 32_797
+        2023-07-01: 34_863
+        2024-07-01: 36_502
+        2025-07-01: 37_487
     rate:
       values:
         2022-07-01: 0.07
   - threshold:
       values:
         2022-07-01: 71_060
+        2023-07-01: 75_537
+        2024-07-01: 79_087
+        2025-07-01: 81_222
     rate:
       values:
         2022-07-01: 0.032
@@ -29,3 +35,11 @@ metadata:
   reference:
   - title: Government of Canada - Canada Child Benefit
     href: https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/t4114/canada-child-benefit.html
+  - title: CRA CCB reduction (1 child) for July 2022 - June 2023 benefit year (thresholds - $32,797 / $71,060, rates - 7% / 3.2%)
+    href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit-overview/canada-child-benefit-ccb-calculation-sheet-july-2022-june-2023-payments-2021-tax-year.html
+  - title: CRA CCB reduction (1 child) for July 2023 - June 2024 benefit year (thresholds - $34,863 / $75,537, rates - 7% / 3.2%)
+    href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit-overview/canada-child-benefit-ccb-calculation-sheet-july-2023-june-2024-payments-2022-tax-year.html
+  - title: CRA CCB reduction (1 child) for July 2024 - June 2025 benefit year (thresholds - $36,502 / $79,087, rates - 7% / 3.2%)
+    href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit/canada-child-benefit-ccb-calculation-sheet-july-2024-june-2025-payments-2023-tax-year.html
+  - title: CRA CCB reduction (1 child) for July 2025 - June 2026 benefit year (thresholds - $37,487 / $81,222, rates - 7% / 3.2%)
+    href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit/canada-child-benefit-ccb-calculation-sheet-july-2025-june-2026-payments-2024-tax-year.html

policyengine_canada/parameters/gov/cra/benefits/ccb/reduction/three_children.yaml

@@ -9,15 +9,21 @@ brackets:
   - threshold:
       values:
         2022-07-01: 32_797
+        2023-07-01: 34_863
+        2024-07-01: 36_502
+        2025-07-01: 37_487
     rate:
       values:
         2022-07-01: 0.19
   - threshold:
       values:
         2022-07-01: 71_060
+        2023-07-01: 75_537
+        2024-07-01: 79_087
+        2025-07-01: 81_222
     rate:
       values:
-        2022-02-01: 0.08
+        2022-07-01: 0.08
 
 metadata:
   type: marginal_rate
@@ -28,3 +34,11 @@ metadata:
   reference:
   - title: Government of Canada - Canada Child Benefit
     href: https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/t4114/canada-child-benefit.html
+  - title: CRA CCB reduction (3 children) for July 2022 - June 2023 benefit year (thresholds - $32,797 / $71,060, rates - 19% / 8%)
+    href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit-overview/canada-child-benefit-ccb-calculation-sheet-july-2022-june-2023-payments-2021-tax-year.html
+  - title: CRA CCB reduction (3 children) for July 2023 - June 2024 benefit year (thresholds - $34,863 / $75,537, rates - 19% / 8%)
+    href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit-overview/canada-child-benefit-ccb-calculation-sheet-july-2023-june-2024-payments-2022-tax-year.html
+  - title: CRA CCB reduction (3 children) for July 2024 - June 2025 benefit year (thresholds - $36,502 / $79,087, rates - 19% / 8%)
+    href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit/canada-child-benefit-ccb-calculation-sheet-july-2024-june-2025-payments-2023-tax-year.html
+  - title: CRA CCB reduction (3 children) for July 2025 - June 2026 benefit year (thresholds - $37,487 / $81,222, rates - 19% / 8%)
+    href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit/canada-child-benefit-ccb-calculation-sheet-july-2025-june-2026-payments-2024-tax-year.html

policyengine_canada/parameters/gov/cra/benefits/ccb/reduction/two_children.yaml

@@ -9,12 +9,18 @@ brackets:
   - threshold:
       values:
         2022-07-01: 32_797
+        2023-07-01: 34_863
+        2024-07-01: 36_502
+        2025-07-01: 37_487
     rate:
       values:
         2022-07-01: 0.135
   - threshold:
       values:
         2022-07-01: 71_060
+        2023-07-01: 75_537
+        2024-07-01: 79_087
+        2025-07-01: 81_222
     rate:
       values:
         2022-07-01: 0.057
@@ -29,3 +35,11 @@ metadata:
   reference:
   - title: Government of Canada - Canada Child Benefit
     href: https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/t4114/canada-child-benefit.html
+  - title: CRA CCB reduction (2 children) for July 2022 - June 2023 benefit year (thresholds - $32,797 / $71,060, rates - 13.5% / 5.7%)
+    href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit-overview/canada-child-benefit-ccb-calculation-sheet-july-2022-june-2023-payments-2021-tax-year.html
+  - title: CRA CCB reduction (2 children) for July 2023 - June 2024 benefit year (thresholds - $34,863 / $75,537, rates - 13.5% / 5.7%)
+    href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit-overview/canada-child-benefit-ccb-calculation-sheet-july-2023-june-2024-payments-2022-tax-year.html
+  - title: CRA CCB reduction (2 children) for July 2024 - June 2025 benefit year (thresholds - $36,502 / $79,087, rates - 13.5% / 5.7%)
+    href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit/canada-child-benefit-ccb-calculation-sheet-july-2024-june-2025-payments-2023-tax-year.html
+  - title: CRA CCB reduction (2 children) for July 2025 - June 2026 benefit year (thresholds - $37,487 / $81,222, rates - 13.5% / 5.7%)
+    href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit/canada-child-benefit-ccb-calculation-sheet-july-2025-june-2026-payments-2024-tax-year.html

policyengine_canada/parameters/gov/cra/benefits/cdb/base.yaml

@@ -1,6 +1,10 @@
 description: Maximum amount that can be received per eligible child under the canada child disability benefit.
 values:
   2021-01-01: 2_985
+  2022-07-01: 2_985
+  2023-07-01: 3_173
+  2024-07-01: 3_322
+  2025-07-01: 3_411
 metadata:
   unit: currency-CAD
   period: year
@@ -9,3 +13,13 @@ metadata:
   reference:
     - title: Government of Canada - Child disability benefit (CDB)
       href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/child-disability-benefit.html
+    - title: CRA CDB amounts for January 2021 - June 2022 benefit year (max = $2,985 per eligible child)
+      href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit/canada-child-benefit-ccb-payment-amounts.html
+    - title: CRA CDB amounts for July 2022 - June 2023 benefit year (max = $2,985 per eligible child)
+      href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit-overview/canada-child-benefit-ccb-calculation-sheet-july-2022-june-2023-payments-2021-tax-year.html
+    - title: CRA CDB amounts for July 2023 - June 2024 benefit year (max = $3,173 per eligible child)
+      href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit-overview/canada-child-benefit-ccb-calculation-sheet-july-2023-june-2024-payments-2022-tax-year.html
+    - title: CRA CDB amounts for July 2024 - June 2025 benefit year (max = $3,322 per eligible child)
+      href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit/canada-child-benefit-ccb-calculation-sheet-july-2024-june-2025-payments-2023-tax-year.html
+    - title: CRA CDB amounts for July 2025 - June 2026 benefit year (max = $3,411 per eligible child)
+      href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit/canada-child-benefit-ccb-calculation-sheet-july-2025-june-2026-payments-2024-tax-year.html

policyengine_canada/parameters/gov/cra/benefits/cdb/reduction/one_child.yaml

@@ -9,6 +9,9 @@ brackets:
   - threshold:
       values:
         2021-01-01: 71_060
+        2023-07-01: 75_537
+        2024-07-01: 79_087
+        2025-07-01: 81_222
     rate:
       values:
         2021-01-01: 0.032
@@ -23,3 +26,11 @@ metadata:
   reference:
     - title: Government of Canada - Child disability benefit (CDB)
       href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/child-disability-benefit.html
+    - title: CRA CDB reduction (1 child) for January 2021 - June 2023 benefit year (threshold - $71,060, rate - 3.2%)
+      href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit/canada-child-benefit-ccb-payment-amounts.html
+    - title: CRA CDB reduction (1 child) for July 2023 - June 2024 benefit year (threshold - $75,537, rate - 3.2%)
+      href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit-overview/canada-child-benefit-ccb-calculation-sheet-july-2023-june-2024-payments-2022-tax-year.html
+    - title: CRA CDB reduction (1 child) for July 2024 - June 2025 benefit year (threshold - $79,087, rate - 3.2%)
+      href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit/canada-child-benefit-ccb-calculation-sheet-july-2024-june-2025-payments-2023-tax-year.html
+    - title: CRA CDB reduction (1 child) for July 2025 - June 2026 benefit year (threshold - $81,222, rate - 3.2%)
+      href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit/canada-child-benefit-ccb-calculation-sheet-july-2025-june-2026-payments-2024-tax-year.html

policyengine_canada/parameters/gov/cra/benefits/cdb/reduction/two_or_more_children.yaml

@@ -9,6 +9,9 @@ brackets:
   - threshold:
       values:
         2021-01-01: 71_060
+        2023-07-01: 75_537
+        2024-07-01: 79_087
+        2025-07-01: 81_222
     rate:
       values:
         2021-01-01: 0.057
@@ -23,3 +26,11 @@ metadata:
   reference:
     - title: Government of Canada - Child disability benefit (CDB)
       href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/child-disability-benefit.html
+    - title: CRA CDB reduction (2+ children) for January 2021 - June 2023 benefit year (threshold - $71,060, rate - 5.7%)
+      href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit/canada-child-benefit-ccb-payment-amounts.html
+    - title: CRA CDB reduction (2+ children) for July 2023 - June 2024 benefit year (threshold - $75,537, rate - 5.7%)
+      href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit-overview/canada-child-benefit-ccb-calculation-sheet-july-2023-june-2024-payments-2022-tax-year.html
+    - title: CRA CDB reduction (2+ children) for July 2024 - June 2025 benefit year (threshold - $79,087, rate - 5.7%)
+      href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit/canada-child-benefit-ccb-calculation-sheet-july-2024-june-2025-payments-2023-tax-year.html
+    - title: CRA CDB reduction (2+ children) for July 2025 - June 2026 benefit year (threshold - $81,222, rate - 5.7%)
+      href: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit/canada-child-benefit-ccb-calculation-sheet-july-2025-june-2026-payments-2024-tax-year.html