CRA updates guidance on underused housing tax | Advisor.ca
2024年3月12日 · AdobeStock / Reimar. The Canada Revenue Agency (CRA) has provided updated guidance on filing obligations for the underused housing tax (UHT), even though the related legislative proposals have not been enacted.
What the disability tax credit means for eligible Canadians and …
2021年5月14日 · iStockphoto Federal Budget 2021 proposed expanding eligibility for the disability tax credit (DTC) in the areas of mental functions and life-sustaining therapy. This is welcome news for thousands of Canadians who didn’t previously qualify. Not only does DTC eligibility offer immediate tax savings, but it opens the door to other tax benefits and programs to assist eligible Canadians with ...
New trust reporting rules include in-trust accounts, jointly owned ...
2023年12月13日 · AdobeStock / Dikushin. If your clients have set up an in-trust-for (ITF) account for their minor child or they own certain assets jointly, they could be subject to new trust reporting rules that apply for taxation years ending after Dec. 30.
TFSA limit rises to $7,000 for 2024, officially | Advisor.ca
2023年11月23日 · AdobeStock / JHVEPhoto. The TFSA contribution limit for 2024 has been officially released. That limit is $7,000, up from $6,500 in 2023 and $6,000 in 2022.
Informal trust accounts: How they do and don’t work
2018年6月19日 · Carol Bezaire , PFPC, TEP, CLU, is the vice-president of tax and estate planning at Mackenzie Investments. Carol can be contacted at: [email protected]
How much should an executor be paid? | Advisor.ca
2021年10月4日 · iStock.com / Sorbetto This article appears in the October 2021 issue of Advisor’s Edge magazine.Subscribe to the print edition, read the digital edition or read the articles online. Many executors accept their role out of personal duty to a family member or friend who has died, expecting no payment for the work.
The clearance certificate: what it is, and why it matters
2019年2月25日 · Providing executors with peace of mind. One of an executor’s most important jobs is to obtain the clearance certificate: written confirmation from the Canada Revenue Agency that the deceased (and the deceased’s estate) has paid all taxes and associated interest and penalties up to the date the certificate is issued.
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How to unlock a life income fund | Advisor.ca
2020年6月11日 · Quebec: Nova Scotia: Nfld. Age range: Any age up to Dec. 31 of the year you turn 65: 55 to 64: 55 to 64: Maximum amount: 40% of maximum pensionable earnings ($23,480 in 2020)
In-trust-for accounts and taxation | Advisor.ca
2021年12月9日 · An in-trust-for (ITF) account is a convenient way for parents and grandparents to set aside funds for minor children, allowing the account holder to make binding investment decisions on behalf of minor beneficiaries and potentially split income for tax purposes.