Subscribe to this list via RSS Blog posts tagged in Canada Child Benefit
Last week, the Department of Finance released its Fall Economic Statement where the Finance Minister highlighted its efforts to support families and the middle class.  Here are the proposals that the Finance Minister mentioned in his Fall Economic Statement speech: 1.    Strengthen the Canada Child Benefit.  Starting July 2018, the government will be making annual cost of living increases to the CCB which is 2 years ahead of schedule.  A single mother of two children making $35,000 will receive $560 in the 2019-20 benefit year towards the cost of raising her children.  2.    Enhance the Working Income Tax Benefit.  There will...
Continue reading
Rate this blog entry:
0
Haven’t filed your taxes yet? Here is a refresher on the tax credits and deductions available this tax season.  If applicable to your situation, you may be able to apply for one or more of the following amounts: ·         Canada child benefit: The CCB is a tax-free monthly amount paid to eligible families to help them with the cost of raising children under the age of 18. Families could get up to $6,400 annually for each child under 6 and $5,400 annually for each child aged 6-17. ·         Northern residents deductions:  You may be eligible for a deduction based on the...
Continue reading
Rate this blog entry:
0
To help you prepare for the coming tax season, we have listed these tax changes for you to keep in mind when filing your tax return. Please note that some tax changes announced by the CRA are still proposals and not law.  However, if they do become law as proposed, they will be effective for 2016 or as of the dates given. Changes for Individuals: 1.    Canada Child Benefit or CCB replaced the Canada child tax benefit, the national child benefit supplement and the universal child care benefit as of July 2016.  2.    Northern residents deductions – the basic and additional...
Continue reading
Rate this blog entry:
0
As mentioned in our last blog, the most common documents that the CRA asks for in validating your eligibility for benefits and credits pertain to marital status, residency and primary caregiver. Marital Status If you don’t report your correct marital status, it can affect the calculation of your child and family benefits and credits.  The most common errors include defining if you are separated or living with a spouse or common-law partner. You might not be considered separated if you decided to separate but still live together or you now share a household after a period of living apart. A common-law...
Continue reading
Rate this blog entry:
0
Subscribe

If you have a question about one of our products or services, please do not hesitate to contact us!
Please Enter Your Name
Please Enter A Valid Email
Please Enter Your Phone Number
Please select your preferred method of contact.
Refresh Please letters shown!

KD Professional Services
Monday-Friday 9am- 5pm
102, 221 18th Street SE
Calgary, AB, T2E 6J5

403-219-0602
403-219-0603

Read our Tweets