Hudson’s Bay Artifacts May Have Tax Benefits

Hudson's Bay has received a judge’s permission to auction off 4,400 artifacts and art pieces which includes the 355-year-old royal charter that launched the company.  Did you know that the buyer may qualify for a little-known donation tax credit if that property is subsequently donated to an institution of public authority designated by the Minister of Canadian Heritage?  This opportunity in fact should be incorporated as part of the high value professional discussions astute tax and financial pros can have with their clients in possession of such treasures. 

If you’ve lived in a prescribed northern or intermediate zone for a period of at least six consecutive months beginning or ending in the tax year, you may be able to claim the Northern Residents Deduction on Line 255.  Not sure if you qualify? 

Alan Rowell, MFA, DFA-Tax Services Specialist, shines a light on a new communications issue at CRA...how would you advise a client with this problem?

Our Disability Awareness series concludes this week with a look at non-refundable tax credits that can be claimed on the tax return. These articles are excerpted from Jacks on Tax, by Evelyn Jacks.

The disabled who incur expenses of an attendant or other disability supports purchased in order to earn employment or self-employment income or to pursue education, can claim the costs of Disability Supports on Line 215 so long as the expenses were not reimbursed.

Congratulations to David Christianson, Vice-President of National Bank Financial Wealth Management, on achieving his recent distinction as Fellow of FPSC.

Knowledge Bureau will be closed August 1 to August 5 for summer holidays. Online course registration will be available throughout this time. Be sure to register by July 31 to begin your second Summer School session August 6.