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.

On March 28, 2018 Ontario released what has been widely considered to be a “Pre-Election Budget”. Aside from large spending increases, it features changes to Ontario’s tax rate structure, which so far have received little fanfare. Seven tax brackets result in personal tax increases for almost two million people; in addition, 20,000 private businesses will pay at least $2,400 more in health taxes.

Did you know that there are more changes coming to the Canada Pension Plan in 2019? Most Canadians are unaware, and even those in the know find that the CPP planning process is quite confusing. There is opportunity here for tax and financial advisors to help bring their pre-retiree clients up to speed before the end of tax season.

Last week we discussed the deductibility of interest and penalties levied by the Canada Revenue Agency. In Part two of this series, we’re taking a closer look at the deductibility of interest costs on your investments.

Are you a Canadian army veteran looking for your next career opportunity? The new Veterans' Education and Training Benefit supports your educational pursuits in the tax and financial services.  Knowledge Bureau courses and programs are eligible, and convenient: available online for continuous intake, 24/7. They provide new credentials for skills that are in high demand.

According to Knowledge Bureau’s March poll results, financial professionals agree that Budget 2018 misses the mark. Why do tax and financial advisors believe that simplicity and fairness, in particular, were not addressed, and what impact does this have on the services you provide?

Knowledge Bureau is thrilled to announce that faculty member Jenifer Bartman, who will be a guest lecturer on the November CE Summit Tour, is appearing as a regular panelist on the CBC News Network Weekend Business Panel.