Understand and Track Your Personal Net Worth
If you’d like a complete view of your personal financial situation, you’re considering a major financial or life decision, or you want help setting and tracking personal financial goals, you’ll benefit from ONSight Advisory’s Understand and Track Your Personal Net Worth service. Having an understanding of your personal financial value is key when planning for […]
Your “Unexpected Death” Checklist
Death, specifically your own death, is a subject that is tough to talk about, however having the conversation today will save a lot of stress tomorrow should the unexpected happen. Here are 7 items for your “Unexpected Death” Checklist: Ensure that your spouse/executor are aware of any pre-paid funeral (or specific) arrangements you have made […]
CPP Death Benefit and Survivor Payment
The CPP death benefit is a one-time, lump-sum payment to the estate of the deceased contributor. The CPP death benefit can be paid to: The Estate of the deceased person The person who paid the funeral expenses A surviving spouse or common law partner A next of kin. The Executor is the first person that […]
New Information from the Alberta Government – 25 March 2020
In addition, it is now mandatory for travellers returning from outside of Canada to self-isolate. This legal requirement also applies to close contacts of confirmed COVID-19 cases, as well as to any individual with symptoms, such as a fever, cough, sore throat or runny nose. “We must do everything we can to protect Albertans through […]
Support for Employers – Alberta – COVID-19
The Alberta government will provide immediate funding and supportive measures to support local businesses, employers and employees. Support for employers Corporate income tax changes Corporate income tax balances and instalment payments will be deferred from March 19 until August 31, 2020 to increase employers’ access to cash so they can pay employees, address debts and […]
Support for Albertans – COVID-19
The Alberta government will provide immediate financial relief to Alberta’s families and vulnerable populations. Albertans should be focused on their health and not worry about whether they can pay their bills so we have put a number of options in place for those struggling financially. Emergency isolation support This will be a temporary program for […]
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 relief package includes tax relief for individuals and businesses. Filing Deadline Extensions The deadline for filing personal income tax returns will be extended to June 1, […]
To our valued clients and business partners – a KWB announcement
KWB Chartered Professional Accountants has a proactive plan for continued operation in this new environment. You and our team are our first priority. We want to inform you of what changes we have made, so we can continue to complete the work you need us to do, while protecting both you and the members of […]
Electing out of CPP payments
Updated information on this topic can be found here. __________ Did you know that if you are receiving CPP benefits, are still working and are between the ages of 65 and 70, you can elect to stop making CPP contributions. Contributing to the Canada Pension Plan (CPP) is mandatory for working Canadians between the ages […]
Principal Residence Exemption
If you have sold your home and it is your principal residence then you should be able to use the principal residence exemption to reduce or eliminate any capital gain for income tax purposes on the sale of the property. CRA states that a principal residence can be a house, cottage, condominium, apartment, trailer, mobile […]