New Tax Changes for Caregivers: Alberta Budget
Alberta Finance Minister Nater Horner delivered his second consecutive deficit budget on February 26. The deficit is large at $9.4 billion, which the government attributes largely to declining oil revenues. The document is called Fiscal Plan 2026-2029 meaning that this is a three-year fiscal pan, rather than the typical one-year projection.Pandemic Downtime? Shed Some Light on Your Knowledge Gaps
Paper T1 Filers: Beware, It’s an 8-Page Return
What’s new in tax filing season 2020 now that it’s officially underway? There is $1 billion in uncashed cheques at CRA for 7.6 million people; paper-filed returns have been sent to 1.7 million people; plus, one more important detail that hasn’t had a lot of attention yet. That is, the tax return is 8-pages long this year!
Tax Expenditures Report: Clues to 2020 Federal Budget Changes?
Is wealth preservation important as demographics change dramatically over the next 15 to 20 years in Canada? Or are today’s taxing requirements so great that governments need to tap into wealth accumulation immediately? Those are a few of the tax policy questions to be answered as federal and provincial budget season arrives in Canada this month. A recent federal government report provides some good clues as to what may lie ahead.
It’s Complex: Your Relationship with the Tax Refund
Canadians have a unique perspective on tax refunds – they seem to love them! Taxpayers have the tendency to use the refund as a savings strategy, according to our February poll. It’s something the pros don’t necessarily agree with, but 75% of them felt that reducing tax withholdings would have no benefit in helping Canadians manage their money.
