Volunteer Firefighters’ Tax Credit Recognizes Vital Service

A new tax credit for volunteer firefighters that was announced as part of Budget 2011 moved a step closer to being officially passed into law today when an amendment to the Income Tax Act, 2000 received second reading in the House of Assembly. The credit benefits the approximately 5,900 volunteer firefighters throughout Newfoundland and Labrador who are often the first to respond when tragedy strikes a community.

“I was very pleased to have the opportunity to speak on this new tax credit today,” said the Honourable Tom Marshall, Minister of Finance and President of Treasury Board. “The amount of time and effort that volunteer firefighters put into training and responding to emergencies is significant. This credit is in 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.”

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 January 1, 2011, so that those who qualify can claim it on their 2011 tax forms. The Provincial Government has estimated that the credit will be worth $1.4 million annually.

“Firefighters throughout our province continue to tell me how pleased they are with the Provincial Government’s new Volunteer Firefighters’ Tax Credit,” said the Honourable Kevin O’Brien, Minister of Municipal Affairs and Minister Responsible for Fire and Emergency Services. “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.”

The Volunteer Firefighters’ Tax Credit is just the latest commitment from the Government of Newfoundland and Labrador that supports fire services in the province. Since 2003-04, almost $20 million has been invested in equipment, vehicles and training for firefighters.

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2012 03 20             4:45 p.m.