Disability Tax Credit Certified Impairments: Survey Says “No”

The federal government has made its intentions clear that there will be an expansion of those who are eligible to certify an individual for the Disability Tax Credit. Our May poll results are in. 83% of our readers voted against allowing public trustees, guardians and departments supporting Indigenous Services to certify impairments for the Disability Tax Credit.

The 2013 Federal Budget announced the phase-out of the Federal Labour Sponsored Venture Capital Funds Tax Credit (LSFTC) which will affect claims for taxation years 2015 and 2016.

It was a pleasure to participate in a live tax chat with Canadians from coast to coast before the holidays in an event hosted by MoneySense magazine. One of the interesting questions asked concerned the length of time contributors have to recover overpaid Canada Pension Plan premiums. 

With insurance and tax regulations becoming increasingly complex, some have been arguing for years that “strict liability offences” should provide a bit of relief for those who have trusted their affairs to professionals when regulations are complex and burdensome.

The allowable claim for the regular donation credit is calculated as follows, based on your qualified gifts which can include cash, publicly traded securities and mutual funds, life insurance policies, personal use property, capital property, depreciable assets, cultural and ecological gifts.

Knowledge Bureau now features 8 free trials for its online certificate course line-up, allowing professional advisors the opportunity to earn 2 CE/CPD credits per course trial. The free trials are a great way to preview course selections for you and your team.

If an employer provides overtime meals or an allowance as an employment perk, there are three conditions that must all be met to in order to ensure that benefit is not taxable.