New Tax Changes for Caregivers: Alberta Budget

Alberta Finance Minister Nater Horner delivered his second consecutive deficit budget on February 26. The deficit is large at $9.4 billion, which the government attributes largely to declining oil revenues. The document is called Fiscal Plan 2026-2029 meaning that this is a three-year fiscal pan, rather than the typical one-year projection.

Tax season is officially over for most individuals, and that signals the start of tax audit season. 

The recent April 21 Federal Budget introduced relaxed rules for mandatory withdrawals from a RRIF, effective in the 2015 and subsequent tax years.

What’s a detailed, tax-efficient retirement income projection worth to your clients? A lot of peace of mind, especially if they are interested in continuing to build their net worth in retirement and beyond, while reducing their frustration with high taxes on private pension income.

There are many unique opportunities to serve clients in the tax and financial services today.  More than ever, clients expect to receive advice that is relevant both for today’s environment and for the long-term.

Have you filed yet? You have a bit of breathing room thanks to a CRA error.

The Ontario provincial budget was presented on April 23 and although it contains no new personal or corporate taxes and only a few changes to beer drinkers, corporate credits and drivers might be particularly interested in this document.