Understanding the OAS Clawback

Seniors don’t take kindly to the clawback of their OAS (Old Age Security) especially in these inflationary times, but this can happen, especially if there was an unusual receipt of income during the past calendar year.  Here’s what you need to know to explain the consequences for 2025 and 2026:

Tax preparation season is about to begin and getting it right means a lot more than filing an accurate tax return. 

David Russell, MBA,CFP, CIM, FCSI posted the following to the LinkedIn page of Evelyn Jacks, founder and president of Knowledge Bureau.

Barb Reimer from Calgary, Alberta recently completed Elements of Real Wealth Management and she believes the course will improve her preservation practices.

As the calendar year changed on January 1, so did the Tax Free Savings Account (TFSA) contribution room available to all adult residents of Canada. 

CRA recently published the prescribed allowable mileage rates for simplified travel deductions and determined that it was cheaper to drive in Alberta in 2014 than the previous year. 

2015 TD1, Personal Tax Credit Return and T1213, Request to Reduce Tax Deductions at Source for Year(s) ___