Louise The second in a series of weekly blog posts till the end of April with some tax items you may not be aware of. If you are supporting a dependent who is physically or mentally challenged, you may be eligible to claim the Caregiver amount. From the Canada Revenue Agency(CRA) website: The family caregiver amount (FCA) helps Canadians … Read more
The first in a series of weekly blog posts till the end of April with some tax items you may not be aware of. This week the new First-time donor’s super credit (FDSC): This is a temporary tax credit for new charitable donor’s who have never claimed a charitable donation or who have not claimed a … Read more
For individuals, March 3, 2014 is the deadline for contributing to an RRSP for the 2013 tax year. You can find out how much contribution room you have by: – checking your 2012 T1 Personal Return Notice of Assessment -accessing My Account on the CRA website http://www.cra-arc.gc.ca/esrvc-srvce/tx/ndvdls/myccnt/menu-eng.html – or by calling TIPS (Tax Information Phone … Read more
Minimum wage is going up on June 1, 2014. The new rates that must be paid to an employee are as follows: General minimum wage – $ 11.00 per hour (currently $10.25) Student minimum wage – $ 10.30 per hour -under 18 (currently $9.60) Liquor servers minimum – $ 9.55 per … Read more
Wishing a very Happy New Year to my clients, colleagues and friends! Hoping that 2014 is a prosperous, exciting year. I have a big adventure to Kenya planned for 2014, will give you more details as they are available. We are just in the planning stage. Louise
Mileage Rates for 2014 There are no changes to the mileage rates for 2014. Rates in existence for 2013 remain. Check out the Government of Canada Press Release for full details. http://www.fin.gc.ca/n13/13-170-eng.asp
One of my clients forwarded me an email from Canada Revenue Agency this morning. It said she was entitled to a refund. If you get one of these emails, delete it immediately. Do not click where it says to access the refund form. Canada Revenue Agency never corresponds with taxpayers by email. Here is what … Read more
My husband Brook wanted to be an electrical engineer. We met as he was heading off to Ottawa University. Unfortunately with little money saved and parents unable to help, he had to leave at Christmas time due to lack of funds. He ended up going on to college and graduated an engineer technologist. Fast forward … Read more
Each year after April has passed, I make a donation to a non-profit organization of a portion of the tax season profits. This year in honour of our new puppy Kody, that donation is going to the Moosonee Puppy Rescue, the group that rescued Kody and his mom and brothers from Attawapiskat. http://moosoneepuppyrescue.com/ Sharron and Paul Purdy … Read more
With my son Brett ready to graduate from Ryerson and Kevan off to Queen’s in the fall, I’m frequently asked by clients how much it costs, and what is the best way to save. I tell them the first step is RESP’s (Registered Education Savings Plans). You need to start as soon as you child … Read more