By Liz O'Dowd on November 12, 2014 
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Canada Revenue Agency announces maximum pensionable earnings for 2015 November 3, 2014 – Ottawa, Ontario – Canada Revenue Agency The Canada Revenue Agency announced today that the maximum pensionable earnings under the Canada Pension Plan (CPP) for 2015 will be… {Read more}
By Liz O'Dowd on November 3, 2014 Leave a comment
Harper Government Creating Jobs and Growth While Returning to Balanced Budgets With Economic Action Plan 2014 Act, No. 2 October 23, 2014 – Ottawa, Ontario – Department of Finance Finance Minister Joe Oliver today introduced the Economic Action Plan 2014… {Read more}
By Liz O'Dowd on November 3, 2014 Leave a comment
Doubling the Children’s Fitness Tax Credit The Government will double the Children’s Fitness Tax Credit (CFTC) and make it refundable to further help families making the choice to put their children in fitness activities. Making the tax credit refundable will… {Read more}
By Liz O'Dowd on November 3, 2014 Leave a comment
Child Care Expense Deduction Increase for 2015 The government proposes to increase the maximum amount of the child care expense deduction by $1,000 per child, as follows: From $7,000 to $8,000 for each child under age 7 From $4,000 to… {Read more}
By Liz O'Dowd on November 3, 2014 Leave a comment
Universal Child Care Benefit (UCCB) Enhanced for 2015 The government proposes to increase the monthly UCCB for children under 6 from $100 to $160, and proposes to introduce a $60 per month benefit for children age 6 to 17. This… {Read more}
By Liz O'Dowd on November 3, 2014 Leave a comment
Family Tax Cut The federal government is proposing a new Family Tax Cut in the form of a non-refundable tax credit, which would be effective for the 2014 and later taxation years. This would allow couples with children under the… {Read more}
By Liz O'Dowd on November 3, 2014 Leave a comment
The Department of Finance reports a budgetary deficit of $0.3 billion in August 2014; the Government remains on track to balance the budget in 2015 October 31, 2014 – Ottawa, Ontario – Department of Finance Finance Minister Joe Oliver today… {Read more}
By Liz O'Dowd on November 3, 2014 Leave a comment
Prime Minister Stephen Harper today announced new measures to help make life more affordable for Canadian families. He was joined by Joe Oliver, Minister of Finance, Julian Fantino, Minister of Veterans Affairs, Candice Bergen, Minister of State (Social Development), and… {Read more}
By Liz O'Dowd on October 30, 2014 Leave a comment
“Soft” Loans for Your Children Parents quite often make loans to their adult children to help them purchase a car, a home, or for other reasons. A loan is different from a gift. The parent can charge interest so that… {Read more}
By Peter Kupovics on October 28, 2014 Leave a comment
Tips taxable income The Canada Revenue Agency (CRA) is reminding Canadians who earn tips and gratuities that they represent taxable income and must be reported on annual income tax and benefit returns. Restaurant servers, hairdressers, valets, taxi drivers, and others… {Read more}