Showing category "Tax Blog" (Show all posts)

EI Premium Changes

Posted by Alex Mckillop on Monday, September 15, 2014, In : Tax Blog 

On Sept 11, 2014 Joe Oliver announced changes to the EI program next year. They amount to similar savings under the EI new hires program but access to the new rates are limited to employers with less than $15,000/year in EI deductions (employers of less than 15-20 employees). The proposed changes take effect on January 1, 2015. Beneath all the rhetoric you may have read in the news, perhaps you’ve wondered what this means to you directly. Here’s what the numbers boil down to in terms of d...

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2013 AgriStability changes

Posted by michelle mckillop on Friday, January 10, 2014, In : Tax Blog 

2013 AgriStability Program Year Changes

The Growing Forward 2 policy framework agreement comes into effect for the 2013 program year. Under this new agreement, a number of changes were introduced for the AgriStability program including a reduced program fee, 70% margin coverage, harmonized compensation rate for both positive and negative declines, and a reference margin limit. Read about the changes

Existing program parameters as outlined below remain in place for the 2012 and prior program y...

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Back To School!

Posted by michelle mckillop on Thursday, August 29, 2013, In : Tax Blog 
Tax Matters for Students:

  • Post-Secondary Scholarships, bursary and fellowship income is fully exempt from tax when received in connection with a program for which the student will get an education amount tax credit (any accredited Canadian college or university).
  • Where the scholarship or bursary is not from an accredited institution, the first $500 is exempt.
  • Tuition Fees are fully deductible if they total more than $100 and are paid to a post-secondary educational institution in Canada (*some i...

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