Firefighters and search and rescue volunteers could soon receive provincial non-refundable tax credits.
Proposed amendments to the Income Tax Act were introduced on Tuesday in the legislature in Fredericton.
They would provide a maximum annual provincial tax credit of $470 and would begin with the 2024 taxation year, for those who perform at least 200 hours of eligible service in a year. Those hours could be combined between the two volunteer positions.
It’s estimated around 3,000 New Brunswickers would benefit from the tax credit.
“Volunteer firefighters and search and rescue personnel are two vital groups we often count on in times of critical need,” said Finance and Treasury Board Minister Ernie Steeves. “We understand that recruitment and retention is key for both of these services, and it is our hope that these proposed tax credits will help bring in and keep more of these valuable public safety volunteers.”
