Other examples of non-indexed amounts cited by STEP Canada in its submission include: the $100,000 threshold to report foreign property on Form T1135 (the inflation adjusted value should now be approximately $177,000); the child-care expense deduction, which is currently $8,000 for kids under age 7, and $5,000 for children aged 7 to 16 (inflation adjusted: $12,600, and $7,300); and the small business deduction limit of $500,000, which is available to private corporations (including professional corporations) and provides small businesses with a lower federal and provincial corporate tax rate on the first $500,000 of net income. This $500,000 threshold hasn’t been changed since 2009, and would currently be valued at about $740,000 if the limit had been properly indexed to inflation.