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:DAC Acuity 2022: The Changing Faces of Wealth
On Monday Oct 17 at DAC 2022, join Judith Chambers, an Investment Advisor at TD, on a panel discussion led by Christine Logan, Head of Marketing (Americas) for Franklin Templeton and co-panelist, Saijal Patel, host of Strictly Money.
New Course: Personal Pension Planning (PPP®) for Corporate Owner-Managers
The Personal Pension Plan is the “Swiss Army Knife” of solutions for retirement planning in a new and changing economic environment. It is therefore a must know for tax and financial advisors working with pre-retirees; in particular, business owners.
Tax Opportunity: Backfill Under-contributions to Tax-Efficient Savings
Fall is in the air which means, from a financial planning perspective, a transition to year-end tax planning activities! Tax savings are such an important hedge against inflation, but Canadians are missing out:
How to Utilize the Tax-Free First Home Savings Account (FHSA) and the Secret RRSP Benefit
The Department of Finance released draft legislation for public comment on the Tax-Free First Home Savings Account (FHSA) first announced in Budget 2022. The scheduled effective date is January 1, 2023; however, it will likely be little later in the year before firms start offering the option to clients.
Inflation Fans: Payroll Taxes Increase in 2023
CRA has just announced increases in the CPP and EI premiums – statutory deductions – that will be payable by employers and employees in 2023. In the case of EI (Employment Insurance), the rates had been frozen for two years; but now, with both plans becoming more expensive, these taxes on labor will shrink both take home pay for workers and cash flow for employers in an inflationary winter.
FHSA or RRSP HBP? The Vote was Close
Knowledge Bureau Report asked pros across the country whether the First Home Savings Account (FHSA) or the Registered Retirement Savings Plan (RRSP) is the better savings vehicle for home buyers. The vote was close.
