Knowledge Bureau Poll: Tax Cut Doesn’t Cut It!

The Notice of Ways and Means Motion was released on May 27, but the 1% tax rate cut going into effect on July 1, didn’t cut it with Knowledge Bureau Report readers who responded to our May Poll.  A decisive 90% of respondents said “No” when asked: does the new government’s promise to cut the lowest personal income tax rate by 1% to 14%, (14.5% in 2025) go far enough to help Canadians impacted by high costs?  Here were their comments and suggested alternatives based on real life experiences with the after-tax income their struggling clients are left with:

If you have been shocked to find a balance due rather than a refund, be sure to file your return before midnight April 30 to avoid late filing penalties. This is an important first step in keeping more money, even if you can’t pay your bill immediately.

Meet Kathy Lloyd, MFA Succession and Estate Planning Specialist.

We’re celebrating the Luck of the Irish all month at Knowledge Bureau.  Enter our draw for a real pot of gold! 

The 2015-2016 Manitoba provincial budget is scheduled to be tabled on April 30, 2015, but some of the goodies are already out of the bag.

There is very little that sends butterflies flitting through the stomach like that little brown envelope from CRA saying “we would like to take a closer look at your tax returns.” 

We all make mistakes, but what are the chances of accidently setting your original Will alight without the intention of revoking it?