Knowledge Bureau Poll: Tax Cut Doesn’t Cut It!
The Notice of Ways and Means Motion was released on May 27, but the 1% tax rate cut going into effect on July 1, didn’t cut it with Knowledge Bureau Report readers who responded to our May Poll. A decisive 90% of respondents said “No” when asked: does the new government’s promise to cut the lowest personal income tax rate by 1% to 14%, (14.5% in 2025) go far enough to help Canadians impacted by high costs? Here were their comments and suggested alternatives based on real life experiences with the after-tax income their struggling clients are left with:Earn Your Certificate: Take the Cross Border Taxation Course
Be a certified cross border taxation specialist with this comprehensive course from CPA and Knowledge Bureau faculty member Angela Preteau.
Maximize After-Tax Income
Use the Tax-Efficient Retirement Income Calculator to determine the optimum combination of income sources to maximize the income you keep after tax. Try a free trial today!
Have You Been Appointed Power of Attorney? What You Need to Know
Undertaking the role of Power of Attorney for a loved one can be overwhelming, especially if you don't know where to start. If you have agreed to be a Power of Attorney, prepare yourself early by learning the 8 steps you need to know. Join us for Attorney School in Toronto April 26 or Regina May 24 for only $99.
Thinking of Challenging CRA in Court? Think About Costs
Thinking of challenging the CRA in court? Legal costs could be one important factor to consider.
The Importance of Accurate Record Keeping
The Tax Court of Canada (TCC) recently considered an appeal by a contractor in his 2008 and 2009 taxation years who disagreed that his motor vehicle expenses should be disallowed.
Review of CDIC Limits: Amongst Three Important Changes at the Bank
A comprehensive review of Canada's deposit insurance framework was announced in the February 11, 2014 budget.
