 
						
				
				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:Relationship Breakdowns Can Be Taxing
 Saul lost his job and was not able to keep up with his required support payments to his estranged family. He was required to pay $500 per month in spousal support and $1,000 per month in child support. He did not begin to know how to claim his arrears payments on his tax return. Fortunately his Tax Services Specialist could help.
						
						
						
	Saul lost his job and was not able to keep up with his required support payments to his estranged family. He was required to pay $500 per month in spousal support and $1,000 per month in child support. He did not begin to know how to claim his arrears payments on his tax return. Fortunately his Tax Services Specialist could help.
				Seniors See No Raise for Second Quarter
 Old Age Security (OAS) and the Guaranteed Income Supplement (GIS) are indexed quarterly. However, the indexation factor for these purposes for the second quarter—April to June 2016—is nil so there will be no raise in the monthly benefit amount for that period. But that doesn’t mean consumer spending didn’t cost more last quarter, as reported by Statistics Canada, especially for food, alcohol and tobacco.
						
						
						
	Old Age Security (OAS) and the Guaranteed Income Supplement (GIS) are indexed quarterly. However, the indexation factor for these purposes for the second quarter—April to June 2016—is nil so there will be no raise in the monthly benefit amount for that period. But that doesn’t mean consumer spending didn’t cost more last quarter, as reported by Statistics Canada, especially for food, alcohol and tobacco.
				A Five-Step Process for Managing Tax-Efficient Wealth
 As government budgets close one tax advantage after another, it pays to do some tax planning now as you complete your 2015 tax return. Tax time is a great time to prepare a financial assessment through a sound interview process with your advisors. That’s because it’s a great opportunity to review financial affairs of the family as a whole.
						
						
						
	As government budgets close one tax advantage after another, it pays to do some tax planning now as you complete your 2015 tax return. Tax time is a great time to prepare a financial assessment through a sound interview process with your advisors. That’s because it’s a great opportunity to review financial affairs of the family as a whole.
				 
						
						 
						
						 
						
						 
	