T1284: Saskatchewan employee's tools tax credit minimum required amounts

To be eligible for the One-time trade entry credit, the total cost of the eligible tools you purchased in the year must be more than the qualifying tool expense threshold for the trade occupation you selected in Part 1 of the form. The qualifying tool expense threshold for each trade occupation group is as follows:

 

Group 1

Group 2

Group 3

Group 4

One-time trade entry amount / qualifying tool expense threshold

$1,350

$5,000

$9,000

$12,500

You must prepare an itemized list of the eligible tools you purchased in the year, including the cost for each tool. The cost of the tool is the price paid for the tool, including any applicable sales taxes but does not include any financing costs. This list must be signed by your employer and kept in your records, should the Canada Revenue Agency (CRA) ask to see it at a later date.

Note: If you do not use the full amount for your one-time trade entry credit in the tax year to reduce your Saskatchewan tax payable, any unused portion of the credit can be carried forward for two years .If you claimed the full amount of your one-time trade entry credit in a previous year, you cannot claim it again.

 

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