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Newsletters
Issued as and when there is something newsworthy ...
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Home Renovation Tax Credit
HRTC not as straight forward as it seems, could be other opportunities including double or triple dipping...
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Sep 14, 2009
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Emergency Preparedness Week
Update your emergency preparedness kit this week. Don't forget to include important papers. See my article "One minute you have it, the next it's gone".
http://www.taxdetective.ca/articles/article/1482041/19870.htm
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May 6, 2009
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It may not illegal, (yet) but is it right?
Don't get taken advantage of by unscrupulous individuals claiming they will help you claim your disability tax credit and medical expenses you did not pay for. Don't pay a percentage of your refund to anyone.
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Apr 28, 2009
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Financial Literacy
Financial literacy is the buzzword for 2009. Flaherty expressed concern about how Canadians are not financially literate in the 2009 federal budget.
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Apr 17, 2009
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Attendant care and the DTC
When you claim attendant care, do you have to be eligible for the disability tax credit? Sometimes yes, sometimes, no, sometimes you need other certification in writing.
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Apr 13, 2009
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Students with a Disability
Students who qualify for the DTC not only should be accessing the RDSP to get bonds and grants toward their retirement, they should be making themselves aware of other tax credits and how the scholarships, bursaries and grants .
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Apr 5, 2009
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Hiring a caregiver or a nanny?
Consider the cost of caregiving and consider the cost of not complying with applicable legislation. You could lose everything by hiring a caregiver and paying them cash.
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Feb 24, 2009
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Caregiver Credits
Before you file your return this year, and make a claim for tax credits, please take a few minutes to learn about documentation requirements for various tax credits and medical expenses.
In 2005, many medical expenses were amended to included 'certification in writing' requirements that have never been explained to the taxpaying public. Now these claims are being denied and the requirement for documentation is not explained in a satisfactory manner.
Demand answers from your MP as to why your claims are denied.
It's time for Finance and Canada Revenue Agency to disclose their policies about claiming tax credits. We need pro-forma examples of how to succesfully make a claim. The department that processes medical claims feels that this would mean they would have less flexibility in their approval process. To me, that means that if they have any flexibility, it isn't in our favour. Nothing less than full disclosure of what would be considered acceptable documentation will suffice.
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Feb 22, 2009
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Budget 2009
Budget 2009 http://www.budget.gc.ca/2009/index.html
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Jan 27, 2009
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RDSP's - BMO to go live
It appears that BMO is the only Canadian bank that will be activating RDSP accounts before the end of 2008!
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Dec 15, 2008
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HRDC Report
Report on Inclusion of People with Disabilities
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Dec 14, 2008
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TFSA Information Sheet now available
Open an account for each person who qualifies. Be careful not to extend a benefit or take back a note for a contribution to a non arms length person's TFSA. The tax could equal the amount of the benefit or the loan.
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Dec 12, 2008
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Tax Measures proposed in 2008 - follow up
Proposed tax measures - how to implement
Make sure you avail yourself of other assistance in the form of CMHC grants for mobility including seniors, persons with disabilities. Don't forget about those garden suites grants either!
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Dec 11, 2008
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Trust your instincts.
What is a tax shelter gifting arrangement?
How do you reduce the risk of penalties and criminal prosecution if you participated in such a scheme?
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Dec 4, 2008
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This is too good not to post
Fund RIF minimum withdrawals with assets and move directly to your TFSA (up to $5,000 per year starting in 2009).
Banks are being told to get on board by Finance Minister and given a deadline to comply.
Capital gains, dividends and interest income inside the TFSA will be exempt from tax.
You will still need to account for your TFSA assets, just like those cash or margin or RRSP, RDSP, RESP and RRIF accounts. The investment accounts to account for list just grew by another category. Time to learn about using Quicken? Buy my book for $20. There's nothing like it anywhere.
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Nov 20, 2008
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TaxDetective Club: Meets 2nd Friday at 11 am
Join the TaxDetective Club.
Membership includes access to TaxLinks.
Subscription expiry January 1, 2010.
To join, email eileen@taxdetective.ca
or shop online at www.taxdetective.ca/shop.html
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Nov 19, 2008
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Joint election to split pension income
Taxpayers who receive any pension, superannuation or RRSP/RRIF (including life income fund) annuity payments that qualify for the pension income amount are eligible to split up to 50% of this income with their spouse or common-law partner.
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Apr 4, 2008
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Warning: Pension splitting for 2007
Pension splitting may bite back...GIS may be reduced 50 cents on the dollar if considered single because involuntarily separated, care facility cost calculations based on income of two years prior...
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Mar 29, 2008
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Provincial Budget - BC - Income Tax Measures
Slim pickings...but there are a few...
Take comfort in the press release on November 28th 2007 that the new RDSP, if you can manage to qualify for the Disability Tax Credit will not affect your savings or withdrawals from PWD...
This year's BC budget was not about persons with disabilities
http://www.bcbudget.gov.bc.ca/2008/bfp/default.html#34
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Feb 20, 2008
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Tax Free $2,300 Child Disability Amount
Child with a Disaiblity in your family? There are benefits and claims you may not have actioned because you did not know that the threshold increased significantly!!
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Feb 14, 2008
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BC PST News
Recent changes and notices concerning the BC Social Service Tax Act.
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Oct 29, 2007
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What's New this Spring?
Budget 2007 - Disability Savings Plan modelled on Registered Education Savings Plan with matching grants and bonds!
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Mar 24, 2007
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RBC Royal Bank Mortgages
Once again the banks don't calculate mortgages correctly. If you are concerned about your mortgage interest calculations, make sure you ask your accountant to check your bank's mortgage calculations. This is not the first time I have seen a notice like this where the bank has not calculated the interest on loans and mortgages correctly.
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Feb 6, 2006
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BC Provincial Budget 2005
MSP Premiums Assistance threshold increased to $20,000. BC Tax Reduction will reduce or eliminate provincial tax for 730,000 British Columbians
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Feb 17, 2005
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ICBC Rebate
If you have qualified for the Provincial Gas Tax Refund because of a disability, you might qualify for an ICBC discount on your insurance!!
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Feb 17, 2005
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BC Corporations Take Note!!
Don't ignore dissolution notices as there are automatic winding up dividends to shareholders.
March 2004 new BC Corporations Act requires all companies to transition by March 2006.
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Feb 16, 2005
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Eileen Reppenhagen CGA does not research or endorse any product or service appearing in ads on this site. Before making any major financial decision(s) you should consult a qualified professional.
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