Tax planning should be considered all year round, not just at year-end or when you file your tax return. Nevertheless, there are still many time-sensitive issues that you need to address before January 1 and early 2015 to reduce your taxes for 2014.
The Universal Child Care Benefit is administered under the Canada Child Tax Benefit program and is paid to all families with eligible children, regardless of the family’s income level, to help cover the cost of child care.
The Family Tax Cut is a new income splitting measure introduced by the Federal government on October 30, 2014. Eligible families can start to claim the Family Tax Cut as a non-refundable federal tax credit in the spring of 2015 when they file their 2014 tax returns. Since this is only a federal tax credit,…
