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All items tagged with: budget 2018

CPP Premiums Going Up Soon – But There is Good News!

Posted: January 09, 2019
Posted in: Strategic Thinking , Evelyn Jacks, tax filing, federal budget, tax changes, CE summits, CE Summit, Canada Child Benefit, tax workshops, budget 2018, Canada Workers benefit, Income Tax Courses, Climate Action incentive Payments, Bill C-86, Budget Implementation Act, line-by-line tax update

The most awaited tax change for the broadest base of taxpayers is the legislation allowing the government to automatically compute the Canada Workers Benefit (CWB) for tax year 2019. This benefit will replace the current Working Income Tax Benefit. But, it requires designated educational institutions to report for each student whether they are studying on a full- or part-time basis so that their eligibility for the CWB can be determined.

Financial Pros Oppose Tax Credits for Journalism Donations

Posted: January 08, 2019
Posted in: Strategic Thinking , Federal Government, poll results, charitable donations, CE summits, tax proposals, budget 2018, Fall Economic Update, donations credit, journalism donations, non-profit journalism

One controversial change o in the the November 21, 2018 economic statement was the proposal to provide taxpayers with a charitable donation credit for monetary gifts to non-profit journalism organizations. We asked tax and financial professionals their opinion on this hot topic: 78% of those who responded to Knowledge Bureau Report’s December poll voted to oppose this measure, hands down, even at a giving time of year.

Breaking News: Canada Officially Introduces Climate Action Incentive Payments

Posted: December 19, 2018 By : Beth Graddon
Posted in: Strategic Thinking , Federal Government, Evelyn Jacks, tax deductions, tax incentives, budget 2018, Climate Action Incentive Payment, carbon tax, Bill C-86, Budget Implementation Act, climate change

On December 13, the second Budget Implementation Act was granted Royal Assent by the House of Commons*, thus giving the green light for Climate Action Incentive payments to offset new carbon taxation programs coming into effect April 1, 2019.

Fall Economic Statement: Tax Incentives for Corporations

Posted: November 22, 2018 By: Evelyn Jacks
Posted in: Strategic Thinking , federal budget, finance canada, Morneau, Minister of Finance, Fall Economic Statement, budget 2018, Fall Economic Update, Fiscal Report, Corporate Tax Changes

Canada has been in a strong economic position since 2015, but dark clouds are on the horizon as global economic growth has peaked and deficits are expected to grow. This is what Finance Minister Morneau faces as he unveiled his November 21 Fall Economic Report.

Competitiveness Challenge: Are New Corporate Tax Changes Enough?

Posted: November 22, 2018 By : Walter Harder & Evelyn Jacks
Posted in: Strategic Thinking , corporate tax, federal budget, capital cost allowance, Canadian economy, finance canada, Canadian business, Morneau, Minister of Finance, budget 2018, Fall Economic Update, Fiscal Update

Canada’s competitive advantage in the global economy has been of concern since corporate tax reforms were introduced in the United States earlier this year, and especially after Finance Canada’s ill-fated attempt to reform the corporate tax system a year ago. Finance Minister Morneau delivered his response to the current challenges by proposing the acceleration of some Capital Cost Allowance measures in the November 21 Fall Economic Update.

Fall Economic Statements: Ontario First, then the Federal Government

Posted: November 20, 2018
Posted in: Strategic Thinking , economic update, federal budget, Canadian economy, finance canada, Breaking News, Morneau, Fall Economic Statement, budget 2018, provincial budget, fall federal economic statement, provincial defecit, Federal defecit

The Fall Economic Statement from the federal government is being released later today – Wednesday, November 21. Knowledge Bureau Report will bring you breaking news and insights in a special report tomorrow! Meanwhile, Ontario made some interesting tax changes.