Tuesday, November 25, 2014

2015 NEW - Universal Child Care Benefit for Canadians

Universal Child Care Benefit
In 2006, our Government introduced the Universal Child Care Benefit (UCCB), which provides all families with up to $1,200 per year for each child under the age of 6. The UCCB currently provides direct federal support to approximately 1.7 million families with young children.

Now, the Government is proposing to enhance the UCCB by providing up to $1,920 per year for each child under the age of 6, and introducing a new benefit of up to $720 per year for children aged 6 through 17.  The UCCB enhancements would take effect starting January 2015 and would begin to be reflected in monthly payments to recipients in July 2015, pending Parliamentary approval of the necessary legislation.

The July 2015 payment would include up to six months of benefits to cover the January to June 2015 period. About 4 million families are expected to benefit from these enhancements. These enhancements to the UCCB would replace the Child Tax Credit, starting in the 2015 tax year.

For this and other relevant information on Canadian Tax Matters, please use this link to our website and look for the red banner on the bottom left of the home page.

Wednesday, July 23, 2014

Tax Clearance Certificates - What you don't know can hurt you!

After the death of a family member, surviving relatives often face daunting challenges sorting and managing a deceased person’s affairs.  Not the least of these challenges is the need to meet the requirements of CRA for securing Clearance Certificates.  In light of this, we have dedicated this month’s newsletter to providing basic information regarding this somewhat complex process.  
Our July 2014 Newsletter contains questions and answers in detail:
- What is a Clearance Certificate?
- Do I have to get one?
- How do I get one?
- What forms and documents will I need?  
To get a full copy of this and other relevant Newsletters, use this link to our website and you will find this and other information on our Taxes Pages, under Personal Taxes. 

Thursday, March 13, 2014

2013 Home Buyer's Plan (HBP) and Tax Credit

Home ownership for the first time buyer has become a significant cost challenge for most. If you bought a home in 2013, the Canada Revenue Agency (CRA) has a tax credit and a plan that may help you save on this purchase.  We hope that this month’s newsletter will give you the information you need to leverage this opportunity....

For this and other related Newsletters, please use this link to our website personal taxes page: