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:

It’s important to be a law-abiding tax filer, but did you know that some sources of cash flow and income are not reportable on the tax return? Consider the following checklist and be sure to avoid paying extra tax by including them in error.

In the past, retirement income planning was largely focused on how much pension income was needed to replace employment income, for a taxpayer and his/her spouse to live comfortably until death. That has now changed, significantly.

Many investors may feel that it’s best to stay out of the stock markets for now, particularly at a time of so much instability. Are they right?

"Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do. If you haven't found it yet, keep looking. Don't settle. As with all matters of the heart, you'll know when you find it." Steve Jobs

Should you start your Canada Pension Plan early or late? The tax consequences may help you decide. First, know that CPP pension benefits are taxable.

The Finance Department has offered a terse but prompt response to a request with a very short deadline from the Parliamentary Budget Officer (PBO) for additional information to justify figures in the March 22, 2016, federal budget.