Tax Tip: The More Obscure Medical Expenses

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

No, different income sources attract different marginal tax rates.

Edwards v. The Queen.  A recent decision from the Federal Court of Appeal, Edwards v. The Queen (2012 FCA 330), contains interesting dicta regarding the Canada Revenue Agency’s (CRA) administration of proposed legislation in the last decade or so, with the presiding Justice JA John M. Evans declaring it “fundamentally unfair.” 

You can have zero income and pay zero taxes but still receive refundable tax credits in Canada—simply by filing a tax return. But because many of these credits are based on “family” rather than “individual” net income, you and your spouse need to file tax returns together. 

This week: 10 neat things about plant senses.

Knowledge Bureau Newsbooks added David Christianson to our bestsellers list last week.

Family business owners typically have most of their net worth tied up in their business. This book outlines the options available to the family to ensure they know how to protect one of their most valuable assets. Order by Feb. 18 and receive $5 off.