CPA Indexation for 2026 Personal Amounts
The Consumer Price Index numbers for September have been released and that number is used to calculate the indexation rate for personal amounts and tax brackets. Although the federal government has yet to announce the new tax figures, we’ve done the math to estimate the numbers. It’s important information for year end tax planning purposes, a subject we will also cover in depth on November 5 at the live virtual CE Summit. Read on to learn more.Tuition Rebate Programs Diminishing: What Can You Claim?
Use them before you lose them! That’s the message for parents and post-secondary education students filing 2017 tax returns who are looking for provincial tuition fee rebate programs to reduce student expenses. This is especially so, since the federal education and textbook credits have been cancelled. But the tuition rebate programs are diminishing, too.
Retirement Planning: Avoiding OAS Clawbacks
Are retired Canadians turning to you for help when they’ve been subjected to Old Age Security clawbacks? If you are a professional in the tax and financial services industry, its your job to provide valuable advice to pre-retirees on this complex issue, and help them avoid the Pension Recovery Tax that could take a chunk out of their retirement income.
Tax Tip: What You Need to File an Audit-Proof Return
The clock is ticking! Do you have everything you need to file your taxes before the April 30 deadline? Rushing through the tax preparation process can cause you to miss important steps, putting you at risk of an audit. This is your guide to the basics, and Knowledge Bureau’s Tax Documentation Checklist will take you the rest of the way in preparing an audit-proof return. Be sure to contact us for your copy, or click on the link provided!
Breaking News: Ontario 2018 Budget Released
On March 28, 2018 Ontario released what has been widely considered to be a “Pre-Election Budget”. Aside from large spending increases, it features changes to Ontario’s tax rate structure, which so far have received little fanfare. Seven tax brackets result in personal tax increases for almost two million people; in addition, 20,000 private businesses will pay at least $2,400 more in health taxes.
