New: Personal Support Workers Tax Credit Coming Soon
Personal support workers will receive billions in increased wages from federal/provincial governments in B.C., Newfoundland and Labrador and the Northwest Territories. Those workers in other provinces will now get a raise too, but they will have to wait until filing their 2026 returns in the spring of 2027 to cash in, according to an October 27 pre-budget announcement. Here are the details:Tax Evasion: Calgary Land Flipper
Budget 2022 proposes to provide an additional $1,200 million over five years, starting in 2022-2023 to increase both the investigation and prosecution of entities committing tax evasion. The additional funding will increase CRA’s efficiency and ability to combat tax evasion, which is something it already takes very seriously according to recent examples.
The Fine Print Matters: New Tax Deductions for Employees
The April 7, 2022 Federal Budget introduced a new tax deduction for employees which will be in effect starting on January 1, 2022, assuming Royal Assent will be received. With the exception of some simplified filing opportunities, most employee deductions will require receipts and a signed tax form from the employer. It is expected this will be no different for the new Labour Mobility Deduction. Here are the details to know:
