Category Archives: Services

New Tax Credit for Teachers

If you are a teacher or early childhood educator employed at an elementary or secondary school, or at a regulated child care facility, you may be eligible to claim the Eligible Educator School Supply Tax Credit. The credit is worth a maximum tax savings of $150. You will need to keep receipts for the purchases…
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2016 Numbers

Here are some personal financial planning numbers for 2016: RRSP Limit - $25,370 Maximum pensionable earnings - $54,900 Maximum CPP retirement pension - $1,092.50 per month Maximum OAS pension - $570.52 OAS Clawback threshold - $73,756 TFSA limit $5,500 Maximum tax rate on ordinary income in BC - 47.7%
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Society Act Changes

The new British Columbia Societies Act comes in to effect on November 28, 2016. There are a number changes and a timelime for Societies to make those changes. Your Society's consitution and bylaws may need amending and you will need to determine if your Society is member funded. You may want to contact your Society's…
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When to start taking your CPP?

You can start receiving your Canada Pension Plan retirement benefits anytime between 60 and 70. If you start collecting before 65, your benefits will be reduced by 7.2% per year. If you start collecting your benefit after 65, your benefits are increased by 8.4% per year. The result is that if you start taking your…
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