Tax Tip: The More Obscure Medical Expenses

Are you claiming all the medical expenses you or your clients might be entitled to? 

Unhappy with your dealings with a CRA Auditor? The Taxpayers' Ombudsman can help when the relationship is fraught with communications issues between the taxpayer and the auditor.

If there was one insight I gained as I worked on the Federal Task Force for Financial Literacy is that more than any other single issue, challenges of financial literacy affect every Canadian and bind us together in our mutual need for financial education.

Up until 2009, CRA took the position that where you accumulate frequent flyer points while travelling on employer-paid business trips and used them to obtain air travel or other benefits for personal use by you or your family, the fair market value of such air travel or other benefits must be included in your income.

The March 21, 2013 budget closed several loopholes including synthetic dispositions. Knowledge Bureau Report has been examining examples of arrangements that are now closed and their financial outcomes. Last issue we examined the forward sale of securities; in this issue, we provide an example involving the forward sale of other assets.

Health care and home care is expensive to governments and can leave gaps in services that you may find unacceptable for your loved one.

Tradition Law, LLP and Knowledge Bureau partner to help Powers of Attorney starting with Attorney School in Manitoba on June 1.