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.Update: Three Tax Filing Deadlines Include T1135 Form
On February 28, 2014, CRA – recognizing the difficulties of meeting the filing requirements necessary for the completion of form T1135 – Foreign Income Verification Statement required by Canadian Taxpayers – eased the reporting requirements and extended the filing due date to July 31, 2014.
Canada Responsible for Own Economic Growth
Canada has weathered the global financial crisis well because of its inflation policies, a resilient financial system, and timely fiscal stimulus.
Director Held Personally Liable
Can directors and officers be held personally responsible for the actions or omissions of their companies? The answer was yes in the case of Shoppers Drug Mart Inc. v 6470360 Canada Inc.
Evelyn Jacks: Poverty and Real Wealth Management: It Begins with Tax Literacy
Can the principles of Real Wealth Management™ apply to family units affected by the dark cycles of poverty, or a profound lack of trust in the family? This is a question I was recently asked and happy to respond: yes.
Grad Spotlight - Lucie’s Designation Strengthens Her Business
Lucie Hansom earned her DFA-Tax Services Specialist designation in 2012 and in 2013 attended her first Distinguished Advisor Conference. We are pleased to have Lucie as one of our distinguished grads.
Support for Children
For all agreements or court orders after May 1997, child support payments are not taxable to the recipient or deductible by the payor. For income tax purposes, any support stipulated in an agreement or court order is deemed to be child support if it is not identified as spousal support.
