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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.

Saskatchewan Provincial Budget

The 2014 Saskatchewan provincial budget was delivered on March 6. The budget was the seventh consecutive balanced budget in the province. 

Manitoba Provincial Budget

The Manitoba provincial budget was tabled on March 6. Two new tax initiatives were announced.

British Columbia Provincial Budget

The premier of British Columbia tabled the 2014 provincial budget on February 18. The budget contained a number of tax-related changes, not all of which were directly related to income tax.

Taxation of Small Business Dividends in 2014

The 2013 Federal Budget announced that, beginning in 2014, the gross-up of small business dividends will be reduced from 25% to 18% and that the federal dividend tax credit will be adjusted as well. The net result is a slight increase in the taxation of other than eligible dividends at the federal level.

Scholarships, Bursaries and Fellowships May Not Be Taxable

Great news! Students who win awards to go to school now qualify for full tax exemptions, if they qualify for the full-time education amount.

Audit Defence - Documenting the Client Experience

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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
    11.01%
  • No
    97 votes
    88.99%