The Importance of Provincial Budgets: Elbows Up and No Bracket Creep!
Some of the right things are happening in Nova Scotia, from the perspective of improving standards of living in that province. And that’s important news because according to the Fraser Institute, Canadians have suffered the worst five-year decline in their standard of living over the 2020-to-2024 period since the Great Depression. It notes, our Gross Domestic Product (GDP) per person decreased by 2.0% (0.4% annually) ; this despite aggregate GDP growth of 1.5% over the period. Further, all ten provinces are experiencing stagnation, which is unique in our history. So what’s the good news in Nova Scotia, at this critical juncture?Preserving Capital in Inflationary Times
Preserving capital in the current environment includes three goals: managing the financial triggers caused by the current environment, understanding the tax-efficient "wealth horizon", and preserving income-producing capital in advance of transition events: retirement and death of a taxpayer.
Tuition or Canada Training Credit?
Starting in 2020, most taxpayers between the age of 25 and 65 began earning an entitlement to the Canada Training Credit of $500 per year. In order to claim the credit, the taxpayer has to have eligible tuition fees for the year. So, what’s the difference between claiming the tuition credit and the Canada Training Credit?
CE Summits September 21: Managing Audit Trouble Spots
With the "ramped-up" activity of the Canada Revenue Agency ("CRA") relating to taxpayer audits, you and your clients will want to take pre-emptive measures to manage potential audit trouble spots.
DAC Acuity 2022: Building Momentum from the Executive Suite
Change is difficult at the best of times but today, it’s harder, especially for business leaders, owners and managers.
Grads Earn Tuition Bonuses with New Workplace Training Division
Did you know that our newly revamped VIP Affinity Program is still available to Knowledge Bureau graduates?
Good News: Disability Tax Form Finally Updated
CRA has finally released the updated Disability Tax Form for the 2021 tax filing year which ended April 30 for individuals and June 15 for proprietors. Medical practitioners who complete Part B of form T2201 Disability Tax Credit Certificate using the digital application process will find that it is now updated to reflect the expanded eligibility criteria for mental functions and life-sustaining therapies, particular interest to diabetics and their caregivers. Here’s what you need to know:
