Claiming Medical Expenses: Free Healthcare?

Free Health Care? Did you know that Canadians spend on average more than $1,000 on medical expenses each year? It’s estimated that government programs, via our taxes, cover about 72% of medical expenses, which means that we pay for the rest. Your clients may be over-paying on their taxes because they don’t know about medical expense deductions. 

Grow your business with the DFA - Bookkeeping Services Specialist™ Designation.

This Week:  It’s a Tax Quiz:  Win A $100 Gift Certificate

Fall is the perfect time to focus on professional development. Take advantage of a number of upcoming live events and earn valuable CE credits with Knowledge Bureau.

This week CRA announced the indexation factor for 2015 (1.7%) and the resulting federal brackets and rates for 2015.  Tax rates, of course, remain unchanged.

How many times have you prepared a return for a client who has made an RRSP contribution (either to their own or their spouse’s RRSP) but really should not have?

The British Columbia Supreme Court (BCSC) recently made a ruling that was not only favourable to the taxpayer, but also set a welcome precedent for future taxpayers that enter into transactions with unintended tax consequences.