Understanding the OAS Clawback

Seniors don’t take kindly to the clawback of their OAS (Old Age Security) especially in these inflationary times, but this can happen, especially if there was an unusual receipt of income during the past calendar year.  Here’s what you need to know to explain the consequences for 2025 and 2026:

The cat is out of the bag! The federal budget date has been set and the big question is whether the contribution limit for Tax Free Savings Accounts will double to $11,000. 

Seniors, post-secondary grads, and Gramma – all demographics will feel the effects of Liberal Premier Brian Gallant’s Liberal budget, presented  in New Brunswick on Tuesday, March 31.

What is the best way for governments to support families with children?, had a plethora of comments and an abundance of ideas.

The great tax filing race is on. Most people know that April 30, the tax filing deadline for individual taxpayers, is three weeks away.

NOW AVAILABLE:  Learn about the Family Tax Cuts and more – FREE with the purchase of Jacks on Tax.

The Tax Court of Canada (Descarries Et Al. v. The Queen (2014) TCC 75) recently had occasion to consider an interesting tax planning scheme that ultimately fell foul of the General Anti-Avoidance Rule (GAAR).