Improving Employment Insurance (EI) is part of the Government’s plan to help the middle class and those seeking to join it. The Government of Canada says that it wants Employment Insurance to be there for Canadians who need help the most, when they need it. You can check out the changes on their website at this…
In January 2017, MSP premium rates and the Regular Premium Assistance program are changing. As a result, more British Columbians will be eligible for assistance with their MSP premiums. On Sept. 15, 2016, the government of British Columbia announced updates to the previously published 2017 MSP premium and Regular Premium Assistance rates. The planned 4%…
The Government of Canada has introduced a program called Canada Summer Jobs. This can be a great opportunity to create more jobs for students, and to allow employers to hire affordable help through the summer! If you want to take advantage of the program this year, you need to apply by early March. If you…
As we discussed last week, the new federal government is proposing several changes to Canada’s current tax policy. Many of you may be wondering what these possible changes would mean for you and your family. The Knowledge Bureau Network has examined the proposed policies. Assuming all the changes are adopted in their current form, they have…
Now that a new government has been elected in Canada, you can expect some changes to different tax benefits and rate. This will affect each person differently, depending on factors like your level of income and whether you have kids. We came across this great article from MoneySense that discusses some of the likely changes we’ll…
You may have heard of the recent changes to the universal child care benefit (UCCB). One of the changes was to expand the UCCB, so it now applies to all children under 18, and the benefit per child under the age of 6 has been increased to $160/month. However, there have been other changes to the…
To sustain increased spending on health care, the provincial government is raising MSP premium rates by 4% effective January 2015. Rates for Regular Premium Assistance will remain the same. The following table outlines the new rates depending on your previous tax year’s adjusted net income and the number of people in your family: MONTHLY RATES…
On October 9, 2014 the Federal government made good on an April 2011 election promise and increased the Child Fitness Tax Credit to $1,000 from the previous maximum of $500. This means that effective January 1, 2014, you can now claim up to $1,000 annually for your child’s fitness expenses, and 15% of those expenses (up to…