New: Personal Support Workers Tax Credit Coming Soon

Personal support workers will receive billions in increased wages from federal/provincial governments in B.C., Newfoundland and Labrador and the Northwest Territories.  Those workers in other provinces will now get a raise too, but they will have to wait until filing their 2026 returns in the spring of 2027 to cash in, according to an October 27 pre-budget announcement.  Here are the details:

Find out about this and more at the 2015 Distinguished Advisor Conference (DAC).

Substantial tax reform has recently changed the rules for post-death planning for high net worth families.

Jimmy Yee of Burnaby, BC recently completed the Knowledge Bureau’s Elements of Real Wealth Management course and he believes the knowledge he gained will help close the gaps in understanding who he is as a financial advisor.

Notable in the BC 2015-2016 budget was the lack of any provision to extend the temporary high-income tax bracket: 16.8% on income in excess of $151,050.  This bracket is scheduled to be eliminated after 2015.

The Family Tax Cut can change the way we think about which spouse should make the RRSP contribution. 

CRA is asking tax preparers to get email addresses and direct deposit information for their clients this year, but the process of retrieving the Notice of Assessment is less than clear.