Family

tax

Five smart ways to transfer wealth to your children and grandchildren (part 1)

Leave a Comment / May 3, 2023 / Accounting, Bookkeeping, Calgary, Family, Financial Statements, Payroll, Personal, Property, Tax

Don’t let tax efficiencies dictate the best ways to pass on wealth.   The idea that wealthy parents or grandparents leave money to their kids or grandkids in their will is becoming outdated.  So says Ethan Astaneh, wealth advisor and client relationship manager at Nicola Wealth in Vancouver. While money can definitely be passed down via …

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student

Students: Put more money in your pocket with benefits and credits! (part 3)

Leave a Comment / April 10, 2023 / Accounting, Bookkeeping, Calgary, Family, Financial Statements, Payroll, Personal, Tax

Please see the beginning of the article in our previous posts. Climate action incentive payment  The Climate action incentive payment (CAIP) is a tax-free amount paid to help individuals and families offset the cost of the federal pollution pricing. You may be eligible for the CAIP if you are a resident of Alberta, Saskatchewan, Manitoba, or Ontario.  …

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student benefits

Students: Put more money in your pocket with benefits and credits! (part 1)

Leave a Comment / April 3, 2023 / Accounting, Bookkeeping, Calgary, Family, Financial Statements, Payroll, Personal, Tax

January 17, 2023  Ottawa, Ontario  Canada Revenue Agency  As a student, you may have many questions about taxes. It might even be your first time filing an income tax and benefit return, and that’s okay! We’re here to make tax-filing easier and to make sure you receive the benefits and credits you may be entitled …

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housing benefit

One-Time Top-Up to The Canada Housing Benefit: Additional Support

Leave a Comment / March 31, 2023 / Accounting, Bookkeeping, Calgary, Family, Financial Statements, Payroll, Personal, Property, Tax

A one-time tax-free payment of $500, announced in September 2022, is now available to low-income renters. The payment does not reduce other federal income-tested benefits.  Eligible individuals must:  be 15 years of age or older on December 1, 2022;  be resident in Canada for tax purposes in 2022;  have filed their 2021 tax return with …

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Canada Dental Benefit: Support for those with Young Children

Leave a Comment / March 29, 2023 / Accounting, Bookkeeping, Calgary, Family, Financial Statements, Payroll, Personal, Tax

The Canada dental benefit, announced in September 2022, provides up-front tax-free payments to cover dental expenses for children under age 12 without dental coverage. The program began December 1, 2022, with expenses retroactive to October 1, 2022 being covered.   The program is available for two periods: December 1, 2022 to June 30, 2023, and July …

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