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:

Winston Churchill once said: we make a living by what we get, but we make a life by what we give. It does feel good to do good. . .and doing good often attracts rewards as well. 

In a recent appeal to the Tax Court of Canada (TCC), Emily Sowah argued that the Minister of National Revenue (the Minister) was incorrect in disallowing her charitable tax credit for purported cumulative gifts of $10,252 in the 2006 taxation year.

If you have a commercial debt obligation—a debt on which interest would have been deductible in computing income from a business or property—and that loan is forgiven, you’ll have a tax consequence.

The Supreme Court of Canada (SCC) recently released its decision in Envision Credit Union v. Canada, a case concerning an amalgamation of two credit unions in British Columbia.

Interest income is common to most investors. It can often accrue on a compounding basis (that is, interest is reinvested rather than paid out to the investor during the term of the contract).

In honour of October being Small Business Month, let's uncover the inspiring benefits of running a home-based business.