Tax Tip: A New Tax Credit for Infirm Children

Last week we discussed a new Canada Caregiver’s Credit (CCC) for spouses and eligible dependants who can be claimed as “equivalent to spouse.” But did you know that you can now make a new claim if you are a caregiver of a dependent minor or adult child who is infirm? It’s possible under the revamped Canada Caregiver Credit.

Professional Online Training Available Now

Busy tax and financial professionals who are looking to train and hire graduates from Canada’s most  comprehensive and convenient professional certification program may enroll now, 24/7. 

People in the News: Benitta Anselm Nerio

We’d like to say congratulations to Benitta Anselm Nerio on the completion of Knowledge Bureau’s T1 Professional Tax Preparation – Intermediate course. Here’s what she had to say about her experience:

January Poll

In your opinion, are professional advisors putting themselves at risk in working with non-compliant taxpayers, given the narrowed Voluntary Disclosure Program effective March 1, 2018?

Warmest Wishes to You and Yours this Holiday Season!

At this special time of the year, we like to pause to think about all we are grateful for, and that’s first and foremost our treasured relationship with you. Thank you for your commitment, your friendship and support.

New!  Check out the Official 2017 T1 and 2018 Income Tax Estimator

Knowledge Bureau is pleased to release two important tools to assist taxpayers and their advisors with authoritative tax information that’s fast and accurate: the 2018 Income Tax Estimator in the Knowledge Bureau Toolkit, and the new T1 Return, which appears in EverGreen Explanatory Notes.

Anything But Simple: Morneau’s Income Sprinkling Rules Start January 1

It’s official, family income sprinkling rules will take effect January 1, 2018, and, unless a family member can show active participation under still-complicated reasonableness tests, distributions of income from private family businesses will be taxed at top tax rates, with none of the progressivity in tax rates available to individuals. This will require an immediate rethinking of resources available to the economic unit known as the family business.
 
 
 
Knowledge Bureau Poll Question

In your opinion, are professional advisors putting themselves at risk in working with non-compliant taxpayers, given the narrowed Voluntary Disclosure Program effective March 1, 2018?

  • Yes
    50 votes
    84.75%
  • No
    9 votes
    15.25%