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}
Category: News
Children’s fitness tax credit
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}
New for 2015 child care expenses
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}
New changes to Universal Child Care Benefit
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}
Split income family tax cut
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}
The Fiscal Monitor
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}
Steven Harper announcement to make life more comfortable for families
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}
CPA Unification
October 3, 2014 – Ottawa, Ontario – Canada Revenue Agency Press Release The Honourable Kerry-Lynne D. Findlay, P.C., Q.C., M.P., Minister of National Revenue, congratulates the Chartered Professional Accountants of Canada (CPA Canada) on their recent merger of all accounting… {Read more}
Fourth calendar quarter Interest rates
September 12, 2014 Ottawa, Ontario Canada Revenue Agency The Canada Revenue Agency (CRA) today announced the prescribed annual interest rates that will apply to any amounts owed to the CRA and to any amounts the CRA owes to individuals and… {Read more}
Do you have to file a tax return
A tax return must be filed if: You have to pay income taxes for the year; You have not repaid all amounts withdrawn from your RRSP under the Life Long Learning Plan; You have to pay CPP because your pensionable… {Read more}