The Importance of Provincial Budgets: Elbows Up and No Bracket Creep!
Some of the right things are happening in Nova Scotia, from the perspective of improving standards of living in that province. And that’s important news because according to the Fraser Institute, Canadians have suffered the worst five-year decline in their standard of living over the 2020-to-2024 period since the Great Depression. It notes, our Gross Domestic Product (GDP) per person decreased by 2.0% (0.4% annually) ; this despite aggregate GDP growth of 1.5% over the period. Further, all ten provinces are experiencing stagnation, which is unique in our history. So what’s the good news in Nova Scotia, at this critical juncture?Budget 2016: What Previously Announced Tax Provisions Remain?
If you are confused by the numerous family tax changes over the past couple of years, you are probably not alone.
Tax Tips: Big Tax Refund? Use It for Education Savings
In the unlikely event that you have no plans for your tax refund, consider using it in a special way this year, especially if you’re a parent or a grandparent: help your kids or grandchildren with their education funding. One way to speed up the accumulations is with a contribution to the Registered Education Savings Plan (RESP).
Age 19 Before April 1, 2017? File a Tax Return to Get GST/HST Credit
The GST/HST Credit is a federal refundable credit payable to those 19 years of age and up. The next payment will be made on April 20 to eligible taxpayers who have filed a 2014 tax return.
Canadian Immigrants: Tax Tips You Need to Know
Whether refugees from conflicted countries are looking to start anew for themselves and their families, or disgruntled Americans are looking to escape a government they do not agree with, immigration to Canada has never been a hotter topic.
Tax Breaks: Use Them Before You Lose Them
In the past year, numerous tax advantages have been altered; if nothing else, the March 22, 2016, budget reminds us again never to look a “tax gift horse” in the mouth, especially when it comes to tax-free or tax-deferred investment opportunities.
Three Steps: How to Work Smarter With Your Tax Advisor
Are you getting the most for your dollar when you work with your tax advisor? Many taxpayers would like better answers to their questions about how to save more on their tax return. If you are one of them, read on to learn more about a three-step process Tax Services Specialists are using to increase their value proposition to their clients.
