KWB Blog

The latest financial news and accounting tips from KWB.

Mar 20 2020
Tax News and Changes – COVID-19

The Prime Minister and the Minister of Finance announced on March 18th an economic relief package to begin addressing the economic impacts of the COVID-19 pandemic. Part of the economic […]

Jan 14 2020
5 Things to Consider When Filing Your Tax Return

Here’s a list of some things to avoid when filing your tax return. Follow these tips; they could save you time and money! Filing an income tax and benefit return […]

Jun 4 2019
CPP Rate

Beginning in 2019, the CPP rate will be gradually enhanced. This means you will receive higher benefits in exchange for making higher contributions. The Canada Pension Plan (CPP) enhancement will […]

Apr 23 2019
Apprentice Tax Credit

If you have apprentices working for you, then you should be taking advantage of the apprenticeship job creation tax credit. (Apprentice Tax Credit) An investment tax credit can be claimed […]

Apr 16 2019
Supporting Documents for a Charitable Donation

When you make a charitable donation, one of the key benefits you receive is the donation tax credit on your tax return. In order to be able to claim a […]

Apr 9 2019
Medical Expenses including Attendant Care

A taxpayer can claim medical expenses paid for themselves as well as for their spouse, common-law partner and dependents.  A dependent can include; the taxpayer or their spouse/common law partner’s child […]

Mar 28 2019
Deductible medical costs if you qualify for a disability tax credit

A taxpayer can claim deductible medical costs paid for themselves as well as for their spouse, common-law partner and dependents. A dependent can include; the taxpayer or their spouse/common law […]

Mar 5 2019
Vehicle ownership

We are often asked, “Should I own my vehicle in my company or personally?” The following facts can help us determine the answer to the question of vehicle ownership: 1)      […]

Apr 18 2018
2017 Tax Filing Deadline and KWB office hours

We would like to remind you that for the majority of Canadians, your personal income tax returns should be filed by April 30. It is our desire and intention to […]

Apr 17 2018
Northern Residents Deduction

Depending on the location of your permanent home, you may qualify for the Northern Residents Deduction on your personal income tax return. The steps to determine if you qualify for […]

Mar 16 2018
Disability Tax Credit

You may qualify for the disability tax credit and not even realize it.  If so, you could collect as much as $2,500 a year in tax savings!!! You do not need […]

Feb 20 2018
2018 Tax Rates & Limits

Each year various tax rates, contribution limits, benefit amounts and deduction rates change.  The following is a quick reference guide for 2018. Personal income tax rates and brackets: Federal Taxable […]

Jun 13 2017
Gluten Free Food

If you have celiac disease you are able to claim the incremental costs of the gluten free food as a medical expense. In order to claim the expense you need […]

May 9 2017
Tax Deductions

To make sure you are claiming all the tax deductions that you should be, read about the 7 most commonly overlooked tax deductions.

May 2 2017
Registered Education Savings Plan (RESP)

With summer over and the kids back at school, many are looking at accessing their RESPs to cover the costs of post-secondary education. Here are some things to consider.

Mar 29 2016
HOME ACCESSIBILITY TAX CREDIT (HATC)

The 2015 federal budget announced the introduction of a new Home Accessibility Tax Credit (HATC), beginning in 2016. The HATC is a non-refundable tax credit for qualifying expenses incurred for […]

Jan 21 2016
Charitable Giving

If charitable giving is something that you are interested in and you want to see the tax benefits obtained recently by one of our clients, read on for more information.

Jun 23 2015
The Enlightened Investor: A Diversified Portfolio vs. a Collection of Investments – “Recovery Returns”

Do you want a portfolio that’s vulnerable to wild swings in value? Likely not. In fact less volatile portfolios are both easier on the stomach and they help you achieve better […]

Jun 16 2015
Tuition and Education Amounts

As a student, you may be wondering what deductions you can make on your tax return. Can you claim the cost of textbooks? Can you transfer your credits to someone […]

Feb 3 2015
Child Related Benefits, Expenses and Deductions

There’s great news for 2015 for Canadians with children. Stephen Harper has announced a “child care benefit boost” – which includes an increase to, or return of, the monthly Universal […]

Nov 12 2014
The “Family Tax Cut” credit

Prime Minister Stephen Harper and Finance Minister Joe Oliver recently announced a “Family Tax Cut” credit which allows certain Canadian families to reduce their overall federal income tax. This relief […]

Jul 22 2014
Family Caregiver Tax Credit

For 2014, if you have a dependent that you claim under one of the following: Spousal amount (line 303) Equivalent to spouse amount (line 305) The child amount (line 367) […]