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 tax filing deadline of midnight May 2 has come and gone. Now what? It’s important to file as soon as possible if you owe money to CRA. That’s true even if you’re a proprietor and qualify to file by midnight June 15.

Boomers are moving towards retirement, but many are not getting the planning services they need to manage their retirement income on a tax-efficient basis.

Application forms for the 2016 DAC Young Advisors Award are now being accepted from young advisors, their clients, employers or mentors and can be found on the Knowledge Bureau website at the Conference tab at www.knowledgebureau.com. The application process will close on May 31 and selection will be announced on June 15, 2016.

“Do not value money for any more nor any less than its worth; it is a good servant but a bad master.” Alexander Dumas

Do you know what one of the most missed credits on the personal tax return is?  It’s the Disability Tax Amount, a substantial non-refundable tax credit valued at $7899 in the 2015 tax year; 8001 in 2016.  It can be claimed by someone who is markedly restricted in the activities of daily living on a permanent basis, or by their supporting individual.

Dividends of taxable Canadian corporations enjoy preferred tax rates, but some complexities in reporting can plague unsuspecting filers. Here are some tips for last-minute filers: