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.

The Finance Department is asking for your input - now until March 10 -  for its anticipated Budget 2025.  This is especially interesting, given the upheaval in Canadian and international politics, and recent retreats in taxation policy: the reluctant postponement of the proposed capital gains inclusion rates, bare trust reporting and the introduction of the Underused Housing Tax. 

With the prorogation of parliament many tax provisions in the April 16, 2024 federal budget, the August 12, 2024 legislative proposals and the Fall Economic Statement of December 16 have fallen into a state of confusion.

Knowledge Bureau’s DMA Accounting Services Specialist program (Knowledge Bureau - World Class Financial Education) is a comprehensive designation program designed to provide strong competencies for people who work in accounting departments and tax offices.

“This course provides an extensive knowledge about the use of trust in tax and estate planning and is to be recommended as part of a background for a tax professional. It clearly spelled out the structure, advantages and disadvantages of each type of trust. The study cases give a valuable insight into handling a variety of situations where the establishment of a trust is warranted." 

Please join Evelyn Jacks and guest Faculty members for a virtual mini-summit February 26 for an in depth Tax School for tax and financial professionals. 

Subscribe to KBR to get our Real Tax News You Can Use Special Report! In This Edition: February 14, 2025 More Bad News on the Canada Carbon Rebate Anti-Flippers Beware: CRA Fines are Exorbitant What Residential Property Owners Need to be Audit-Proof