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:

Taxpayers can take comfort that the “implied undertaking rule” still protects them when dealing with the CRA in pre-trial discovery, thanks to recent jurisprudence.

Tax literacy is important. Why? Because the tax return is the most important financial document of the year for most Canadians and many changes have recently made it more probable that they will do their returns incorrectly the first time. 

Rick Tomalty achieved his MFA-Succession and Estate Planning Specialist designation in 2012, and since then he has attended Knowledge Bureau's annual Distinguished Advisor Conference. We are pleased to have Rick as one of our distinguished grads.

The recipient of taxable child or spousal support payments must report those amounts as income and pay the tax.

We have learned that Canadians are wealthier today in large part because of the equity in their homes. Will that be enough to supplement retirement needs after downsizing to a small place? Let’s put some numbers to it to find out.

Do you know someone who has an incredible “presence”? There’s something about them that is intriguing and difficult to articulate, but we know that they possess the power to captivate.