News Room

The Gateway:  Maximizing the Impact of the Disability Tax Credit

In addition to reducing income tax through a non-refundable credit, the Disability Tax Credit (DTC) serves as a gateway to a wide range of additional tax benefits and government programs. Eligibility for the DTC can unlock enhanced credits, financial supplements, and long-term savings opportunities that go well beyond the tax return. Understanding how the DTC connects to these broader supports is essential for maximizing financial stability—both for individuals living with disabilities and the family members who support them.  Unfortunately, many taxpayers miss this credit and their tax and financial advisors can certainly help when this happens.

Northwest Territories Territorial Budget

The Northwest Territories budget was delivered on February 6. The budget contained no income tax measures.

New Brunswick Provincial Budget

The New Brunswick provincial budget was delivered on February 4. The budget reduces the deficit but a balanced budget is not expected until 2017. The budget promised a 3% increase in social assistance rates beginning in April.

Other Provinces and Territories

Provincial and territorial budget dates have yet to announced for Ontario (expected the first week in May), Prince Edward Island (expected soon after the legislature opens in April), and Nunavut (expected late in May),

Provincial Taxation of Small Business Dividends in 2014

Because of the way that dividends are taxed, both at the federal level and the provincial level, the amount of tax payable on a given dividend depends of the taxpayer’s taxable income (as well as their province of residence).

Evelyn Jacks: Claiming Moving Expenses

It’s crunch time when it comes to tax filing. Most taxpayers will have received all their T slips – T4s, T3s, T5s, etc. and now it’s time to actually get it done.

Are We Richer Now Than We Were 30 Years Ago?

There has been a lot said and written about the state of the middle class, with some people claiming that we are worse off now than we were 30 years ago.
 
 
 
Knowledge Bureau Poll Question

Does the new government’s promise, expected soon, to cut the lowest personal income tax rate by 1% to 14%, go far enough to help Canadians impacted by high costs? What are alternatives in your view?

  • Yes
    12 votes
    10.91%
  • No
    98 votes
    89.09%