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Manitoba Renters Tax Credit
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Fixes PolicyEngine#419
Tests to be done
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laviniawo committed Aug 7, 2023
1 parent 1fdbc44 commit af7a4fb
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4 changes: 4 additions & 0 deletions changelog_entry.yaml
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- bump: minor
changes:
added:
- Manitoba renters tax credit amount.
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description: Manitoba provides different tax credits according to different age groups.
values:
2022-01-01: 65
metadata:
unit: year
label: Manitoba tax credit diference with people with different ages
reference:
- title: Manitoba Information Guide Manitoba Credits Form MB479
href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5007-tc/5007-tc-22e.pdf # page=3
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description: Manitoba provides this specific percentage rate to renters tax credit.
values:
2022-01-01: 0.0075
metadata:
unit: currency-CAD
label: Manitoba renters tax credit rate
reference:
- title: Manitoba Information Guide Manitoba Credits Form MB479
href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5007-tc/5007-tc-22e.pdf #page=3
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description: Manitoba provides this basic credit amount for either the head or the spouse having age of older than or equal to 65.
values:
2022-01-01: 825
metadata:
unit: currency-CAD
label: Manitoba basic credit amount of renters tax credit for either the head or the spouse having eligible age
reference:
- title: Manitoba Information Guide Manitoba Credits Form MB479
href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5007-tc/5007-tc-22e.pdf #page=3
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description: Manitoba provides this credit value for renters tax credit calculation.
values:
2022-01-01: 43.75
metadata:
unit: currency-CAD
label: Manitoba credit value of renters tax credit
reference:
- title: Manitoba Information Guide Manitoba Credits Form MB479
href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5007-tc/5007-tc-22e.pdf #page=3
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description: Manitoba provides this maximum value for renters tax credit calculation.
values:
2022-01-01: 300
metadata:
unit: currency-CAD
label: Manitoba maximum value of renters tax credit in calculation
reference:
- title: Manitoba Information Guide Manitoba Credits Form MB479
href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5007-tc/5007-tc-22e.pdf #page=3
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description: Manitoba provides the certain time amount for education property tax credit calculations.
values:
2022-01-01: 365
metadata:
unit: year
label: Manitoba time amount for education property tax credit calculations
reference:
- title: Manitoba Information Guide Manitoba Credits Form MB479
href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5007-tc/5007-tc-22e.pdf # page=3
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from policyengine_canada.model_api import *


class mb_renters_tax_credit(Variable):
value_type = float
entity = Person
label = "Manitoba renters tax credit"
unit = CAD
definition_period = YEAR
defined_for = ProvinceCode.MB

def formula(person, period, parameters):
p = parameters(
period
).gov.provinces.mb.tax.income.credits.renters_tax_credit

age = person("age", period)
age_eligible = age >= p.age_amount

# household net income
net_income = person("adjusted_family_net_income", period)

# rent
rent = person("rent", period)

# education property tax credit
### waiting for issue418 to use this variable
education_property_tax_credit = person(
"mb_education_property_tax_credit_amount", period
)

max_amount_allowed = min_(
p.max_value, net_income * p.applicable_percentage
)

age_eligible_credit = age_eligible * (
(p.base_amount - max_amount_allowed) / p.months_in_year
)
max_tax_credit = max_(age_eligible_credit, p.credit_value)

number_of_months_in_rentals = person(
"months_living_in_rentals", period
)

renters_tax_credit_amount = (
min_(max_tax_credit * number_of_months_in_rentals, rent)
+ education_property_tax_credit
)

return renters_tax_credit_amount
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from policyengine_canada.model_api import *


class months_living_in_rentals(Variable):
value_type = int
entity = Person
label = "Time Livining in Rentals"
documentation = "Total number of months living in rental places"
definition_period = YEAR

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