diff --git a/changelog_entry.yaml b/changelog_entry.yaml index e69de29bb..104eaf362 100644 --- a/changelog_entry.yaml +++ b/changelog_entry.yaml @@ -0,0 +1,4 @@ +- bump: minor + changes: + added: + - Yukon age amount. diff --git a/policyengine_canada/parameters/gov/provinces/yt/tax/income/credits/age_amount/age.yaml b/policyengine_canada/parameters/gov/provinces/yt/tax/income/credits/age_amount/age.yaml new file mode 100644 index 000000000..4ea920791 --- /dev/null +++ b/policyengine_canada/parameters/gov/provinces/yt/tax/income/credits/age_amount/age.yaml @@ -0,0 +1,13 @@ +description: Yukon qualifies filers for the age amount credit at or above this age threshold. +values: + 2022-01-01: 65 +metadata: + unit: year + label: Yukon age amount eligible age + reference: + - title: Worksheet for the Yukon 2023 Personal Tax Credits Return + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/td1yt-ws/td1yt-ws-23e.pdf#page=1 + - title: Yukon Income Tax Act -- Age Credit + href: https://laws.yukon.ca/cms/images/LEGISLATION/PRINCIPAL/2002/2002-0118/2002-0118.pdf#page=8 + - title: Worksheet for the Yukon 2022 Personal Tax Credits Return + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/td1yt-ws/td1yt-ws-22e.pdf#page=1 diff --git a/policyengine_canada/parameters/gov/provinces/yt/tax/income/credits/age_amount/maximum_amount.yaml b/policyengine_canada/parameters/gov/provinces/yt/tax/income/credits/age_amount/maximum_amount.yaml new file mode 100644 index 000000000..3db548342 --- /dev/null +++ b/policyengine_canada/parameters/gov/provinces/yt/tax/income/credits/age_amount/maximum_amount.yaml @@ -0,0 +1,14 @@ +description: Yukon provides this maximum amount under the age amount credit. +values: + 2022-01-01: 7_898 + 2023-01-01: 8_396 +metadata: + unit: currency-CAD + label: Yukon age amount maximum amount + reference: + - title: Worksheet for the Yukon 2023 Personal Tax Credits Return + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/td1yt-ws/td1yt-ws-23e.pdf#page=1 + - title: Yukon Income Tax Act -- Age Credit + href: https://laws.yukon.ca/cms/images/LEGISLATION/PRINCIPAL/2002/2002-0118/2002-0118.pdf#page=8 + - title: Worksheet for the Yukon 2022 Personal Tax Credits Return + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/td1yt-ws/td1yt-ws-22e.pdf#page=1 diff --git a/policyengine_canada/parameters/gov/provinces/yt/tax/income/credits/age_amount/rate.yaml b/policyengine_canada/parameters/gov/provinces/yt/tax/income/credits/age_amount/rate.yaml new file mode 100644 index 000000000..62462a448 --- /dev/null +++ b/policyengine_canada/parameters/gov/provinces/yt/tax/income/credits/age_amount/rate.yaml @@ -0,0 +1,24 @@ +description: Yukon reduces the age amount credit at this rate. +brackets: + - threshold: + 2022-01-01: 0 + rate: + 2022-01-01: 0 + - threshold: + 2022-01-01: 39_826 + 2023-01-01: 42_335 + rate: + 2022-01-01: 0.15 + +metadata: + type: marginal_rate + threshold_unit: currency-CAD + rate_unit: /1 + label: Yukon age amount applicable rate + reference: + - title: Worksheet for the Yukon 2023 Personal Tax Credits Return + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/td1yt-ws/td1yt-ws-23e.pdf#page=1 + - title: Yukon Income Tax Act -- Age Credit + href: https://laws.yukon.ca/cms/images/LEGISLATION/PRINCIPAL/2002/2002-0118/2002-0118.pdf#page=8 + - title: Worksheet for the Yukon 2022 Personal Tax Credits Return + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/td1yt-ws/td1yt-ws-22e.pdf#page=1 diff --git a/policyengine_canada/tests/gov/provinces/yt/tax/income/credits/yt_age_amount.yaml b/policyengine_canada/tests/gov/provinces/yt/tax/income/credits/yt_age_amount.yaml new file mode 100644 index 000000000..8dc67686b --- /dev/null +++ b/policyengine_canada/tests/gov/provinces/yt/tax/income/credits/yt_age_amount.yaml @@ -0,0 +1,35 @@ +- name: Not eligible for age amount + period: 2023 + input: + province_code: YT + individual_net_income: 10_000 + age: 64 + output: + yt_age_amount: 0 + +- name: Not eligible through net income + period: 2023 + input: + province_code: YT + individual_net_income: 100_000 + age: 70 + output: + yt_age_amount: 0 + +- name: Eligible & maximum age amount (net income < base amount) + period: 2023 + input: + province_code: YT + individual_net_income: 10_000 + age: 65 + output: + yt_age_amount: 8_396 + +- name: Eligible & net income between base amount and maximum amount (8396-(62335-42335)*0.15 = 5396) + period: 2023 + input: + province_code: YT + individual_net_income: 62_335 + age: 70 + output: + yt_age_amount: 5_396 diff --git a/policyengine_canada/variables/gov/provinces/yt/tax/income/credits/yt_age_amount.py b/policyengine_canada/variables/gov/provinces/yt/tax/income/credits/yt_age_amount.py new file mode 100644 index 000000000..664202d55 --- /dev/null +++ b/policyengine_canada/variables/gov/provinces/yt/tax/income/credits/yt_age_amount.py @@ -0,0 +1,18 @@ +from policyengine_canada.model_api import * + + +class yt_age_amount(Variable): + value_type = float + entity = Person + label = "Yukon age amount" + definition_period = YEAR + defined_for = ProvinceCode.YT + + def formula(person, period, parameters): + income = person("individual_net_income", period) + age = person("age", period) + p = parameters(period).gov.provinces.yt.tax.income.credits.age_amount + reduction = p.rate.calc(income) + reduced_amount = max_(p.maximum_amount - reduction, 0) + age_eligible = age >= p.age + return age_eligible * reduced_amount