Budget Measures Get the Green Light: Bill C-15 Receives Royal Assent

On March 26th, Bill C-15 received Royal Assent. A synopsis of some of the most significant elements of the Bill appear here; provisions that advisors and clients should be discussing when preparing tax returns before the end of April.  This includes the fact that the GST/HST Credit has now been replaced – but your clients may not know this.  There are new Capital Cost Allowance Provisions for rental property owners, provisions for the disabled and the Personal Support Workers Tax Credit is now law.

Statistics Canada’s issued two reports on September 15; one reporting good news on the value of household wealth; the other showing that the value of employer-sponsored pension funds declined.  

The Canada Revenue Agency has announced the final prescribed interest rates that will apply to any amounts owed to the CRA and to any amounts the CRA owes to individuals and corporations in 2016.

Professional bookkeeping skills are in high demand, but hard to find.   Knowledge Bureau’s new 30-hour certification course features new practical scenarios featuring Intuit’s Quickbooks Online; a powerful educational experience that will enable confidence in the bookkeeping department.  

Taking a Knowledge Bureau training program this year?  There are numerous funding options to help make your professional studies more affordable, including financing by Knowledge Bureau, funding through a student’s own tax assisted savings plans and CRA tax assistance through various tax incentives.

Education is the great engine of personal development. It is through education that the daughter of a peasant can become a doctor, that the son of a mineworker can become the head of the mine, that a child of farm workers can become the president of a great nation. It is what we make out of what we have, not what we are given, that separates one person from another.” Nelson Mandela

September 15 is the date on which the third quarterly tax instalment must be remitted to CRA, to avoid interest costs on amounts owing for 2016. CRA may have sent a notice, but is the amount shown on it what is really owed?