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. 

This stand alone certificate course perfect for those with no prior tax or financial services experience and recommended precursor to the full DMA™ Vocational Certificate, Diploma or Designation Program. Build confidence in yourself and your team members: the program takes about 20 hours, learn to prepare 24 case studies on professional tax software. Every newcomer to the tax and financial services will benefit from this education! Pre-register now. Canada’s Income Tax Fundamentals Course™ will be available September 10 and you can take advantage of this pre-sale offer!

The 2024 Acuity Conference for Distinguished Advisors (DAC) is pleased to announce Steven Furtado, CIM™, RWM™, FDFS™, and Young Advisor Award Winner as this year's Master of Ceremonies in Montreal, November 10-12. Join Steven as he kicks off the Thought Leadership Breakfast on Monday, November 11.  Register by the September 30 early-bird deadline! Check out what Steven has to say about this year’s conference below, then visit the detailed online agenda, and learn more about this year’s line-up of illustrious speakers!

The inaugural MFA-P Symposium will be held in Toronto on October 30th, 2024. You’ll experience six dynamic sessions from industry leaders designed specifically to help advisors engage their clients about strategic charitable giving. It’s an opportunity to meet peers and industry leaders who can help you build your business.

July 15 was an important day for carbon-tax weary taxpayers. A Canada Carbon Rebate payment was  made to individuals who have filed their 2023 personal tax returns.  What about the long-awaited $2.5 billion Carbon Tax Rebate For Small Businesses? The delivery date and amounts to be received remain elusive, but one thing is clear: many businesses will have disqualified themselves by missing the July 15 date for filing 2023 T2 returns.  Here’s what you need to know. 

New T3 filing requirements for trusts were formally enacted beginning in the 2023 taxation year.  The  rollout of this program quickly became a broad-based disaster, as informal and bare trusts were a surprise inclusion in the requirements. Over 52,000 T3 returns and new Schedule 15s were filed before the government had a sudden change of heart; cancelling the requirement for bare trusts just hours before the filing deadline. Now, the Taxpayer’s Ombudsperson is looking into the situation to determine if taxpayer rights were breached.

In the market for a new car?  Did you know that the federal government wants to achieve, by 2035, 100% zero-emission vehicle sales.  Interim targets are that at least 20 percent of all sales are e-vehicles by 2026, and at least 60 percent by 2030.  To encourage those results, two federal programs are available to make those purchases easier.  And that’s good news because the average e-vehicle costs are still quite high; but the offset is lower driving costs.