TAX CHANGES IN 2017

By |February 1st, 2017|

Each new year brings changes to the income tax act. In general the changes are usually adding new credits while removing others. Such is the case with the child fitness and arts credits. These credits are being eliminated as the govt is increasing the monthly child tax benefits it pays out.

There are a number of other, althouth not greatly significant, but small changes that occurred for the 2016 tax year. Not all changes will allpy to all taxpayers. Ensure that you are maximizing the benefits avaialbe to you by discusssing your personal like and income situation with your tax professional so that they may ensure you are maximizing your entitlements under the tax act.