People who have contributed to defined-contribution pension plans are going to be able to correct over or under contributions to the plans now
Keeping up with all the changes that come with every new taxation year can be difficult, especially if a client is in a complex situation such as being a caregiver or trying to determine the provisions between provincial and federal governments.
Evelyn Jacks, tax expert and president of the Knowledge Bureau Inc., spoke with Globe Advisor editor Pablo Fuchs about the key tax changes for educators, students and those with disabilities.If you’re an eligible educator, certified teacher, or a child care educator, then we have an educator tax credit and it has increased to 25 per cent from 15 per cent of $1,000. That’s $250 in real terms on the federal government’s side.
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