Fuel Excise Tax on Hold But Inflation is Not
The U.S.-Israel war on Iran has thrown global oil prices into turmoil and there is plenty of fallout for consumers. Travelling to Europe this summer? That’s in jeopardy, as jet fuel may run out. Looking for relief at the pumps instead? The recently announced suspended federal excise tax on gasoline, unleaded aviation gasoline, diesel fuel and aviation fuel here in Canada will soften the blow, but only temporarily: it will be zero from April 20 to September 7, 2026. Here’s what you need to know:Future Family Financials: Calculating Liberal Tax Changes.
How will the anticipated changes to the Family Tax Cuts under a new Liberal government look? We’ve crunched the numbers for you. The next Federal Budget and the 2016 indexing factors will confirm actual results; however, in reviewing estimates, we found a couple big winners: lower income families with children, and no income refundable tax credit filers with children.
Consumer Price Index for September Determines Indexation for 2016
Indexation of tax brackets and personal amounts for 2016 is determined by the average CPI numbers for the twelve months ending September 2015 (which were announced last week).
Should TFSA Accounts Be Topped Up?
It appears unlikely that investors who have already maximized their TFSA contribution room to $10,000 in 2015 will be asked to remove the extra $4500, should the new government make good on their pledge to repeal the $10,000 maximum contribution in favor of a $5500 annual amount.
DAC 2015 to Proceed As Planned: Hurricane Spared Puerto Vallarta
We are very happy and relieved to provide you with this update on DAC 2015 in Puerto Vallarta: the Westin Resort and Spa has reported there are no damages; staff have returned as well, reporting no damages to their homes; and everything appears to be operating as normal—including the sunshine—after the tremendous scare from Hurricane Patricia on Friday.
Knowledge Bureau Designate
Chenine Humphrey, owner of Paper Trail Bookkeeping and Business Centre, is on the move! In the process of moving her existing bookkeeping practice to a commercial location where she will be launching an innovative new service to help bookkeepers.
Still Time to Register for Calgary, Toronto Fall DAW
There is still time to register for the Fall Distinguished Advisor Workshop (DAW) October 29 in Calgary and November 2 in Toronto. Be the first in your professional community to interpret the changes anticipated under the new Liberal government and reference the 2016 indexation in true-to-life scenarios.
