New Tax Changes for Caregivers: Alberta Budget

Alberta Finance Minister Nater Horner delivered his second consecutive deficit budget on February 26. The deficit is large at $9.4 billion, which the government attributes largely to declining oil revenues. The document is called Fiscal Plan 2026-2029 meaning that this is a three-year fiscal pan, rather than the typical one-year projection.

It’s important to keep up with breaking tax news and that includes provincial tax changes, to help clients make important lifecycle decisions like whether to start a job or business in another province.  Here’s what’s new from the budget in Quebec, brought down March 12, 2024. 

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In this final month of the first quarter of 2024, significant new tax filing milestones arise, but with a twist, because both March 30 and 31 are on a weekend and April 1 is a Monday.  For these reasons it’s important for tax and financial specialists to step up the tax filing conversation on critical issues like any potential RRSP excess contributions and everything related to trusts!  Here are the significant dates to know for March and April:

It’s Provincial Budget Time! First out of the gate on February 22, the BC government introduced a substantive budget which introduces a BC Family Benefit Bonus, increases the Climate Action Tax Credit, extends training tax credits, exempts farmers from participating in provincial agricultural insurance programs and most important, changes the taxation of real estate in the province, and introduces a new Home Flipping for 2025.  This is a substantive matter to discuss with clients during tax season 2024. Details follow:

February 29 was the date that compelled three provinces to release their 2024 provincial budgets:  Nunavut, Alberta and Nova Scotia.  Here are the tax highlights: