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.

Big changes are coming to CRA’s Voluntary Disclosures Program (VDP) this fall. The proposals on the table will see the program evolve from an opportunity for taxpayers to correct errors and omissions, to an opportunity for government to use the program to generate revenues at a modest cost.

Mid life crisis?  According to Statistics Canada, there are about 71,000 divorces in Canada each year. In fact, over 40% of marriages will end up in divorce, and it can be very expensive - before and after tax!

Recent tax changes require forethought in planning for high-income earners, and in the preparation of final returns for deceased single taxpayers.

Boomers and Millennials beware:  if you are a new sole proprietor a tax deadline looms this week. 

Inspiration is not the exclusive privilege of poets or artists generally.

Debt is the number-one financial issue in Canada today, and things are about to get more urgent for mortgage holders and business owners who have significant debt.