Updated Income Tax Estimator Deals with Canada Recovery Benefit (CRB) Clawback
When the new Canada Recovery Benefits become available later this month, it will come with a cost. If the recipient’s net income for the year from other sources exceeds $38,000, they will be required to repay 50% of the lesser of the CRB received and their net income in excess of $38,000.
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Financial and insurance advisors, lawyers, accountants, bookkeepers, tax practitioners and gift planners…
Financial and insurance advisors, lawyers, accountants, bookkeepers, tax practitioners and gift planners…
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How Can You Help Canadians Recover from Financial Fallout?
The true financial test on how well Canadians will weather the financial storm brought on by the pandemic will occur in the months to come. A glimpse into that future is well described in a June 2020 report from the Bank of Canada. It suggests three catalysts, working together, that can lead to successful financial recovery:
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