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:

We generally believe, living in Canada, that we have the safest banking system in the world. Certainly we’re in the top 10, right?

When starting a small business, whether as a proprietorship or a corporation, entrepreneurs can fall into a number of tax traps. 

A flurry of recent media activity has raised the red flag on how deep in the red most Canadians are, reporting that more people are carrying higher levels of debt than at any other time in history.

An outcry from Hollywood means Ontario will delay tax credit cuts.

The Notice of Ways and Means Motion and Explanatory Notes for the tax provisions of the April 21, 2015 Federal Budget were tabled on May 4, and contain the detail required to set up family tax and wealth planning strategies for the 2015, 2016 and future tax years as envisioned in this document.   

It appears that tax cheaters are having a bigger effect on economic activity than tax free savers, when the cost of raising TFSA limits are contrasted with the cost of lost tax revenues due to the Underground Economy (UE).