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:

Joint tenants are often comforted by the doctrine of survivorship – the survivor(s) take the property absolutely upon the death of the other holder(s).

New research tells us doing retirement income projections induces people to increase their savings and feel more satisfied about their retirement savings adequacy. This must-attend live workshop will provide you with the best tools to prepare tax-efficient retirement income projections, and apply income averaging and income splitting techniques on cutting edge calculators using a case study approach. Limited seats available – reserve your spot by September 15!

The financial landscape is constantly changing, and clients are seeking credible, trusted, and expert solutions to meet their complex financial needs and achieve their long term goals. This is why mastery in your field is so important, and Knowledge Bureau can help.

On August 29, the Department of Finance released draft legislative proposals that would implement various tax measures introduced in the February 11, 2014 budget as well as other measures including the modernization of life insurance policy exemption tests.

The draft tax legislation released late in August changes the rules regarding the taxation of the income earned on the savings in a life insurance policy.

Approximately 98% of Canadian business are considered to be “small to medium” sized, and CRA is hoping that personal visits with these enterprises can help to cut red tape, errors, and omissions for an overall smoother, penalty-free relationship with the tax man.