All items tagged with: tax deductions
Posted in: Strategic Thinking , tax preparation, Financial Literacy, knowledge bureau, tax returns, Evelyn Jacks, tax filing, tax courses, tax deductions, tax education, financial education, tax refunds
Filing a tax return is the first, and often most important, financial transaction of the year for millions of Canadians. What’s different in 2018? For starters, the government is hanging on to early filers’ refunds longer than ever. With last year’s average tax refund clocking in at just over $1,735, that’s a big deposit that cash-strapped Canadians don’t have for their RRSP or TFSA deposit.
Posted in: Strategic Thinking , Financial Literacy, knowledge bureau, Evelyn Jacks, tax courses, tax deductions, financial education, online education, Canada Caregiver Credit, CCC, tax credits for infirm and disabled, Canadian disability credits, spousal amounts, tax credits for dependants, eligible dependant, common-law tax credits
The Canada Caregiver Credit, or CCC, is by far the most complicated provision on the 2017 tax return. In this last article of our series, we’ll give you some true-to-life examples of how to claim it for your loved ones who may be suffering an infirmity.
Posted in: Strategic Thinking , Financial Literacy, CRA, dividends, capital gains, tax credits, knowledge bureau, Canada Revenue Agency, RRSPs, income tax act, Evelyn Jacks, corporate tax, old age security, tax courses, interest income, tax education, financial education, online courses, online education, Knowledge Journal, Aboriginal people, tax deductions for aboriginals, Indian Status, tax exemptions, Guaranteed Income Supplements, support payments, trust tax
Canada has 1,673,785 aboriginal people, representing 4.9 percent of the population. According to our census, this population has grown 42.5 percent in the period 2006-16 and the average age of the aboriginal people, at 32.1 years, is close to a decade younger than the rest of Canada. There are unique tax filing concerns for these Canadians, requiring specialized knowledge.
Posted in: Strategic Thinking , tax credits, knowledge bureau, Evelyn Jacks, tax courses, tax changes, income splitting, financial education, tax reform, tax proposals, business owners, Morneau, online courses, small business taxation, online education, 2017, 2017 recap, 2017 news stories, family tax deductions, Parliamentary Budget Officer, cottage, principle residence, reporting property sale
It’s a sign of the times: Knowledge Bureau Report readers were most interested in recent tax news, based on our top five posts revisited here. The proposals to change the tax system for private corporations are of most concern; small wonder, too. Not yet law, Tax on Split Income (TOSI) rules begin January 1, 2018. Principle residence reporting changes are important too. Here’s what mattered most to our readers in 2017:
Posted in: Strategic Thinking , DAC, Financial Advisor, knowledge bureau, Evelyn Jacks, distinguished advisor conference, tax courses, tax advisor, tax deductions, online courses, financial conferences, Canadian conferences, online education, charitable deductions, philanthropy, Quebec conferences
Knowledge Bureau’s annual Distinguished Advisor Conference (DAC) will be taking place in beautiful Quebec City from November 11-14, 2018. The theme is “Changing the Face of Community – Collaboration with Impact.” We would love to hear what this means to you, and what you’d like to see in our compelling sessions at this pre-eminent educational event.
Posted in: Strategic Thinking , CRA, tax credits, knowledge bureau, Evelyn Jacks, income tax, tax courses, tax deductions, financial education, tax news, CE summits, Distinguished Advisor Workshops, tax workshops, financial workshops, personal income tax, low income, File My Return
This week the National Revenue Minister announced a new program called “File My Return” that will allow Canadians with low and fixed incomes to complete their returns over the phone.