 Breaking News |
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► Illegal Tax Protester Schemes |
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► Ontario Changes Delivery of Tax Credits |
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► How to Calculate TFSA Contribution Room |
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► Evelyn Jacks: Claiming Tax Benefits For Disabled Adults |
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| Your News |
| ► Poll Question: Should the government raise the age at which you begin to receive OAS benefits? |
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Breaking News |
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| Illegal Tax Protester Schemes |
 | | On Feb. 28, Winnipeg chiropractor Rosalie Chobotar was sentenced in the Provincial Court of Manitoba to six months in jail and fined $162,513. Chobotar's offense: tax evasion. She is what Canada Revenue Agency (CRA) refers to as a "tax protestor,” someone who believes income taxes are unconstitutional, optional or easily averted using certain interpretive techniques. |
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| Ontario Changes Delivery of Tax Credits |
 | | The Ontario government is changing the way it delivers its Ontario Energy and Property Tax Credit (OEPTC) as well as its Northern Ontario Energy Credit (NOEC) and Ontario Sales Tax Credit (OSTC). Instead of quarterly cheques, come July, all three will be rolled into the Ontario Trillium Benefit (OTB) and will be delivered to the low- to moderate-income Ontarians who qualify as monthly cheques. |
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| How to Calculate TFSA Contribution Room |
 | | The RC343 Worksheet for calculating the contribution room for Tax-Free Savings Account Plans (TFSAs) is now available in electronic form on the Canada Revenue Agency (CRA) website.
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| Evelyn Jacks: Claiming Tax Benefits For Disabled Adults |
 | | If you are supporting an adult who is dependent on you because of mental or physical impairment, the Canada Revenue Agency (CRA) offers tax relief on this year's federal tax return in the form of several, important, non-refundable tax credits. |
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| Your News |
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| Knowledge Bureau Poll |
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Current question Should the government raise the age at which you begin to receive OAS benefits?  
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Current poll results: Yes: 24% No: 76% Read what other readers have to say
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| DISTINGUISHED PRACTICES: Tips for Real Wealth Managers™: New rules concerning RDSP withdrawals, Part 5 |
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 | | Canada Revenue Agency recently released new rules concerning Registered Disability Savings Plan (RDSP) and the taxation of withdrawals from the plan. In this fifth and final installment, Knowledge Bureau Report looks at the rules that govern RDSPs in the year in which a plan becomes a primarily government-assisted plan. |
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| You Asked Us: Private Health-care Plans and Wage-loss Replacement Plans |
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Are you paying premiums for the private health-care plan at your work? If so, you can claim those premiums as a medical expense on line 330 of your income tax return. The premiums qualify as deductions if you pay them directly. Or, if the premiums are paid through your employer, they must be deducted from your pay. Any premium paid by the employer will show up on your T4 slip in Box 85. |
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| Advisor Think Tank: Women want and need better advice |
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 | | In honour of International Women's Day March 8, BMO Nesbitt Burns has thrown down the gauntlet to financial advisors. According to the investment dealer's research, 82% of Canadian women are responsible or share responsibility equally for household financial decisions. Yet, only 30% of women feel the financial services industry is effectively addressing their needs and 61% want more detailed information from their investment advisors. |
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| Tax Tips: Employment Deductions can be Lucrative |
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You may claim out-of-pocket expenses as a result of your employment if your employer certifies that those expenditures were required and not reimbursed. The deductible amounts depend on whether you earn salary only, or salary plus commissions. They include:
• accounting and legal fees, • motor vehicle expenses, • travel costs, • parking (generally only at locations away from the employer's office), • supplies used up directly in your work (such as stationery or maps), • office rent or certain home-office expenses, • amounts paid to an assistant, who could be a family member. These claims can pay off handsomely when you file this year's return. So, be sure to check out Form T777 Statement of Employment Expenses when you gather your receipts for tax filing this year. |
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| Our First iPad Contest Winner |
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| Our News |
| Mark Your Calendar: Knowledge Bureau Events |
 | | Knowledge Bureau Calendar of Events
| | | | May 15 | | May 14-17 | Client Appreciation Events: 4 cities |
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| Featured Course: Tax Preparation for Proprietorships | | Special Offer for Knowledge Bureau Report (KBR) readers only |
 | | Unincorporated small business returns are increasingly in demand as aging demographic moves from full-time employment to self-employment as a way to leverage time and money. This course will take your skills to the next level. Enrol before March 27, to save $200 off the regular course price or call for personal assistance (1-866-953-4769). |
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| Featured Book: Master Your Philanthropy | | Special Offer for Knowledge Bureau Report (KBR) readers only |
|  | Is charitable giving important to you? Do you want to give time, money, future assets? Do you want to make a bequest in your will?
Author Nicola Elkins helps you or your clients develop charitable giving plans for the long term and the donor's personal tax situation in MASTER Your Philanthropy.
SAVE $10 if you buy before March 20, 2012!
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| In the News: Book signings and tax commentary |
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| Featured Event: DAC 2012 - Navigation: Charting a New Financial Course |
 | | Charting a New Course Learn the impacts of tax and economic change at DAC Early Bird Enrolment: ends June 30 |
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