Tax updates for 2018

Here is the tax updates from CRA for 2018 (tax year of 2017) New and improved credits Canada caregiver credit – This non-refundable tax credit replaces the family caregiver credit, the credit for infirm dependants age 18 or older, and the caregiver credit. It gives tax relief to eligible individuals …

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Tax On Split Income – Revised Draft Legislative Proposals

  Revised Draft Legislative Proposals released on December 13, 2017 Starting January 1, 2018, ‘simpler rules’ will exclude certain individuals from having to meet a previously announced “reasonableness test” to determine whether income received will have a special “tax on split income” (“TOSI”) What is the TOSI? A special ‘tax …

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