This week the loonie fell below 69 cents US for the first time in 13 years. There are some benefits to a low dollar, but this has a big negative effect on snowbirds. Canadians taking their usual winter escape will be feeling the pinch. Their discretionary spending, on...
Government clawbacks can potentially be applied to even modest income levels and can be an emotional matter. They can reduce both income benefits/supplements and otherwise claimable tax credits. The term used rather than ‘clawback’ by Service Canada is ‘Recovery Tax’....
Several of the proposals in April’s Federal Budget spell “GOOD NEWS” for seniors. Here is a summary of the high points: Registered Retirement Income Funds – Reduction in Minimum Withdrawal Factors Applicable to 2015 and subsequent taxation years Pre-age 71 rates are...
