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?

If you have a university bound student in your home this year, there is plenty of good tax news to help with the financial burden. Once again, it’s important to be aware of opportunities to save or recoup some money, and remember to keep all receipts!

Today certain tax credits have been enhanced to help both full-time and part-time students while they are studying, including the monthly education amount. Only one education amount may be claimed for each month: the full-time amount or the part-time amount.   Here’s the criteria behind the numbers students will find on their Form T2202A, required to make the claim:

FOR IMMEDIATE RELEASE –   Modern day advisors need to learn a more proactive approach to both educating and assisting their assist clients through new conversations that are multi-generational in nature.  Evelyn Jacks, President of Knowledge Bureau is delighted that one of Canada’s top 50 financial advisors – David Christianson -  will help steer the audience in the right direction with his experience and wit again this year.

FOR IMMEDIATE RELEASE – Lisa McKee, MFA-Business Services Specialist, reveals the secret of success for her firm, McKee Accounting: Putting the client at the centre of everything to provide high-quality customer service.

Many small businesses in Canada are led by individuals who are in or near retirement age. The majority of these companies require assistance with succession-related issues, often due to a lack of planning within the business. Qualified advisors have a significant opportunity to assist in this regard, building clients for the long term.

It truly takes a village of financial support to help keep students out of a lifetime of debt. The RESP is a good savings vehicle for parents to consider, because it comes with a government “sweetener.”