KWB Blog

The latest financial news and accounting tips from KWB.

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 income                                  Rate $0 to $46,605                                      15% $46,606 to $93,208                             20.5% $93,209 to $144,489                           26% $144,490 to $205,842                         29% Income over $205,843                        33% After many years […]

Apr 19 2016
Tax Myths

Here are some common myths about our personal tax system: Myth: The CRA completely agrees with the information you submitted in your return if it sends you back a Notice of Assessment that agrees to what you filed. A Notice of Assessment is just the result of a quick assessment that will have fixed any […]

Sep 1 2015
Alberta Personal Income Tax Changes

On June 30, 2015, the Alberta government passed Bill 2, An Act to Restore Fairness to Public Revenues. The bill has created a progressive personal income tax rate structure for higher income earners. Effective for 2015 and subsequent tax years, four new tax brackets and rates will be introduced: Taxable income of $125,000 to $150,000 […]