Disability Tax Credit


June 26th, 2009

Some people qualify for the Disability Tax Credit and don’t even know it.  You could save yourself nearly $1,500 per year by claiming this tax credit.  To qualify, you need to have difficulties in certain areas such speaking, hearing, walking, feeding, or dressing yourself.  You need to get pre-approved by a medical practitioner before you can claim this credit.  Read all about it by following this link.

http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/rtrn/cmpltng/ddctns/lns300-350/316/menu-eng.html

Filed under: Personal Tax by David Boese No Comments »




New Provincial Government


June 19th, 2009

So, Nova Scotia has its first NDP government.  Should be interesting to see what their first budget brings.  One potential item of interest is the sales tax break for new home construction.  Yes, you heard right….. yet another break for somebody planning on building.  What with the GST/HST Rebate on New Housing, the Home Renovation Tax Credit, the Canadian Mortgage and Housing Corporation’s grants for energy efficient housing, not to even mention the ecoEnergy Retrofit grants – I think it’s time somebody wrote a book on all these programs!  Only problem is that as soon as it came out in print it would be obsolete.

Anyway, let’s keep an eye on the first NDP budget, coming in the fall of 2009.

Filed under: Consumer Tax by David Boese No Comments »




Changes to taxable benefits


June 17th, 2009

Once in a while it seems that the Canada Revenue Agency recognizes the need to make things easier for the taxpayer.  Doesn’t happen often, but on June 11, 2009 they did exactly that, removing or reducing the tax payable on certain employment benefits.  Benefits that changed include overtime meals, loyalty programs (AirMiles for example), employees who have to take an employer provided vehicle home for night, and certain non-cash gifts or awards.  You can read all about it here.

http://www.cra-arc.gc.ca/E/pub/tp/itnews-40/README.html

Some of it is pretty technical, so you may want to talk to your accountant before making any changes.

Filed under: Business tax by David Boese No Comments »




Are you self-employed?  Don’t forget the June 15 deadline to file your income tax return on time.  If your income tax return includes self employed earnings, the Canada Revenue Agency gives you until June 15 each year to file your tax return on time.  All taxes owing must still be paid by April 30.

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