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:

Dynamic Elise Pulver, LLB, will address significant and unexpected changes to the Estate and Administration Tax Act, at the Distinguished Advisor Workshop, June 22 in Toronto.   

Last week, Federal Finance Minister Joe Oliver announced in the House of Commons that the government is open to allowing Canadians to make additional voluntary contributions to their CPP in order in increase their CPP savings.

Parents with children under age 18 living at home will be receiving a lump sum of $420 per child with their July Child Tax Benefit payment. This lump sum represents the additional $60 per month per child payable as of January 2015.

CRA has applied a net-worth assessment against your client, who now comes to you for help . . . and they are emotional and scared. What do you do first?

The most recent economic data is indeed atrocious, as Bank of Canada Governor Stephen Poloz predicted in England late last year.

Last week’s KBR reported on a recent Statistics Canada study, Changes in Debt and Assets of Canadian Families, 1999 to 2012, that confirmed a trend that Canadians are carrying more debt than ever before.