Canadian Dental Care Plan Renewal Deadline Approaches
Know Your Client! It’s a daily commitment and requirement, especially in the work that financial advisors do with their clients. It’s imperative that you ask about any significant changes in their lives. Has there been a significant new event: a move to take a new job or go to university, a marriage or divorce, a new birth, a disability or a death? And, in the case of income tested benefits such as the Canadian Dental Care Plan, (CDCP) do they qualify? Did they file their tax return on time to get it? Do you know the deadlines for doing so? Do you know when coverage ends if your client now longer qualifies?CRA Announces Pre-Ruling Consultation Pilot Project
With the hope that it will assist taxpayers in determining the legality of their transactions before incurring significant costs, the Canada Revenue Agency (CRA) and the Income Tax Rulings Directorate (ITRD) have announced a one-year pre-ruling consultation pilot project.
Department of Finance Announces New Consumer Code Consultations
The Department of Finance is seeking the input from Canadians on how to protect consumers in all areas of the marketplace.
Phase Out of Federal Labour-Sponsored Venture Funds Capital Tax Credit
The 2013 Federal Budget announced the phase-out of the Federal Labour Sponsored Venture Capital Funds Tax Credit (LSFTC) which will affect claims for taxation years 2015 and 2016.
Evelyn Jacks: Apply Promptly for Refund of Over-Deducted CPP Premiums
It was a pleasure to participate in a live tax chat with Canadians from coast to coast before the holidays in an event hosted by MoneySense magazine. One of the interesting questions asked concerned the length of time contributors have to recover overpaid Canada Pension Plan premiums.
Supreme Court of Canada: The Evolution of Strict Liability Regulatory Offences
With insurance and tax regulations becoming increasingly complex, some have been arguing for years that “strict liability offences” should provide a bit of relief for those who have trusted their affairs to professionals when regulations are complex and burdensome.
How Much Can Be Claimed as a Charitable Donation?
The allowable claim for the regular donation credit is calculated as follows, based on your qualified gifts which can include cash, publicly traded securities and mutual funds, life insurance policies, personal use property, capital property, depreciable assets, cultural and ecological gifts.
