A Brief Guide to the Child Disability Tax Credit


  For parents of a child with a disability in Canada there is a welcome form of financial support in the Child Disability Tax Credit. Parents of a child with a disability can receive up to $224.58 per month as assistance from the government. The benefit is meant for parents who have a child with a permanent disability (under the age of eighteen), and is given to parents as a tax-fee benefit. Parents will receive the credit each month to assist them with whatever needs they deem to be important. There are many benefits to this credit namely that it…

Is It Wrong To Get A Tax Refund?


It's March, which can only mean one thing. All the green beer you could ever want to drink!!! Or not. It's also the time of year many Canadians will begrudgingly start working on their taxes. If you're anything like me, tax time is a myriad of forms, paperwork, and other tedium I really should have gotten around to in October. But here we are. For most of you reading this, tax time isn't so bad. Chances are you only have income from one source (your job), or maybe another source like a side hustle or investment returns. Add on a…

Preparing to File Your Taxes in Canada


It's tax time! Hopefully, you're getting ready to file your taxes, awaiting your tax package from the Canadian Revenue Agency and organizing your supporting documentation. You should receive your tax package, based on the province or territory in which you resided on December 31, sometime in January. Each CRA tax package should contain the following: Your tax return form Your federal tax worksheet The forms for any schedules you require Provincial or territory tax worksheet Information guide If you don't have a tax package by the end of January, or if you have the wrong one (the CRA will usually…

Giving to Charity – Sustainability for the Soul


As the financial year comes to an end and the holiday seasons approaches, Mrs. SPF and I have been reflecting on our personal finances which are now very much under control and quite sustainable.  As we plan for 2011 we recognized that our finances are strong but that we felt something was missing.  We felt as though we were not giving back to the community in which we live with our human or financial resources.  It is not as though we weren't giving to charity, but we felt that we could, and should do more. We sat down and looked…