In answer to the question posed in Knowledge Bureau’s May opinion poll, professional financial advisors from across Canada agreed by an overwhelming majority—78% to 22%—that top marginal tax rates close to, or over, 50% are not fair.
Two federal family tax credits have disappeared in 2017: the Children’s Fitness Tax Credit and the Children’s Arts Amount. Is there anything families can do to shore up tax savings in light of this unfortunate news?
Midnight June 15 is the tax filing deadline for unincorporated business owners and their spouses, and the official end of tax season for those weary folks in the tax preparation industry! Don’t let this important deadline get lost in your pre-summer planning.