Oct
29

Highlights of the Alberta Budget 2019, part 2

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The recently announced Alberta Budget 2019 included the following key priorities: Getting Albertans back to work: This plan includes supporting investment in Alberta while laying out a strong foundation for sustainable economic growth. The plan includes the following:    • Eliminated the carbon tax saving the average family around $665 per year    • Reduce corporate tax rate from 12% to 8% by 2022    • Implement an enhanced capital cost allowance to support business investment          and job creation    • Cut red tape from government processes    • Alberta will move to a new post-secondary sector...
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140 Hits
Oct
25

Highlights of the Alberta Budget 2019, part 1

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Details of Alberta’s Budget 2019, the first for the new United Conservative Party government, has recently been published. Cuts in jobs in the public sector and delays in infrastructure projects are among the efforts laid out in the budget aimed at returning to a balanced budget by 2023. Here are a few highlights: • Overall, the budget includes cuts to operating spending of 2.8% over four years compared to 18% in Budget 1993. • Total revenue is forecast to remain flat at $50 billion in 2019-2020, $50.1 billion in 2020-2021 and $57.5 billion by 2022-2023. • Policy changes in the budget...
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155 Hits
Sep
16

Shared Parenting and the Canada Child Benefit

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Since 2011, Canada Revenue Agency has recognized the special circumstances of parents who share parenting time of a child by allowing parents to share benefits. The CRA determines who qualifies, based on an interpretation of shared parenting as meaning a child generally lives with a parent between 40% and 60% of the time. However, recent Federal Court of Appeal decisions go against the CRA’s practice. Based on the Court’s more narrow interpretation of shared parenting – which it interprets as a child residing with the parent between 45% and 55% of the time – some parents who share parenting time may...
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206 Hits
Aug
19

Information on the Bulgarian Data Breach

Information
Canada Revenue Agency has confirmed that a small number of Canadians have been affected by the recent data breach at the Bulgarian National Revenue Agency. The Canadian taxpayers affected by the breach are those with financial accounts in Bulgaria as well as Bulgarian taxpayers with financial accounts in Canada. Canada Revenue Agency reassures the public that the CRA’s systems are not compromised because of this breach. The CRA has coordinated with the Bulgarian National Revenue agency to confirm the identities of the Canadian taxpayers affected and will be notifying them in writing. Please take note that the CRA will not be...
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