Posts Tagged "tax"

Tax Breaks for You and Your Caregivers

Posted by on Apr 3, 2012 in Financial and Tax Matters | 0 comments

With many Canadians caring for aging parents or receiving care ourselves, it’s good to know that there may be federal and provincial tax breaks available to us: Below are excerpts from the Canada Revenue Agency (CRA) website, http://www.cra-arc.gc.ca, detailing three of the available federal benefits. Click on the links below for more information, and note that these benefits apply not just to the elderly, but to any qualified care recipients over the age of 18, such as adult children. Caregiver Tax Credit You may be eligible for this tax credit if you meet ALL of the following conditions: •...

Read More

Tax Filing for Low Income Seniors

Posted by on Mar 1, 2011 in Financial and Tax Matters | 0 comments

Seniors may feel the effects of a major change in tax filing procedures for Canadians introduced for the 2012 tax year. As a cost-saving measure, the Canada Revenue Agency is “encouraging” Canadians to file our returns on-line. Beginning this year, paper forms will no longer automatically be mailed out! However, you have these other options: Pick up forms at a post office or Service Canada outlet (tax office). Download and print forms from the CRA website Order a copy from CRA by Internet or by phone. Call 1-800-959-2221. Note that the TELEFILE service has also been...

Read More

Estate Planning Part 2: Four Common Mistakes

Posted by on Nov 22, 2010 in Wills and Estate Planning | 0 comments

Whether we like it or not, some parts of life are complex. We need help with areas where we lack experience or expertise. This is certainly true when it comes to certain legal, financial and tax matters – all of which can come into play with estate planning. But emotional pitfalls and relationship issues can also arise during estate planning. Here are four common estate planning mistakes to avoid: Mistake #1: Not changing your documents as you and your family experience life-changing events. There are dozens of life-changing events which should trigger the review of your legal and financial...

Read More

Estate Planning Part 1: Myth-Busting

Posted by on Nov 22, 2010 in Wills and Estate Planning | 0 comments

With anything that we plan on a regular basis, like vacations and family get-togethers, we become familiar with what works, what to avoid and, hopefully, how to prepare properly in advance. But when it comes to the larger issues like estate plans, our mistakes can cause unintended hassle – and even hardship – for those we care for.  Here are some common estate planning myths that call for a closer look: I’m not “wealthy”, so I don’t need an estate plan…do I? If you are happy to have your estate distributed by someone you’ve never met, using a formula created by the...

Read More