5 h. ago Alberta's promised income tax cut is coming in July — here's what you need to know

Albertans can expect to see the province’s promised tax cut on their paycheques next month. The United Conservative Party campaigned on the income tax cut during the spring 2023 election and after two years Albertans will finally see it reflected on their paycheques starting in July. The income tax cut was introduced in Budget 2025 […]

Economics

24 h. ago Average family to save $280 per year from Liberal tax cut: PBO

OTTAWA — The average Canadian family will save $280 on their taxes next year from the Liberal government’s planned income tax cut, the parliamentary budget officer said in an analysis released on Wednesday. But some seniors and single Canadians are expected to save less, prompting criticism from Conservatives who argue the tax cut doesn’t go […]

Economics

35 h. ago Canadian families with kids will get money from the government this week

The final Canada Child Benefit payments are scheduled to be deposited into bank accounts this Friday, ahead of an increase in July.Eligible families can expect to receive Canada Child Benefit (CCB) payments on June 20. This month's payment will be the last one before the scheduled increase in July, which marks the beginning of the new benefit year.The last time the federal government increased the child tax benefit was in July 2024 when payments went up by 4.7 per cent. As a result of the increase, the maximum payment for children under six increased by $350, from $7,437 to $7,787. For children aged six to 17, payments increased by $295, from $6,275 to $6,570.To help parents with the rising cost of living, Ottawa has been using a process called indexation to increase the benefit amounts since 2018.An Employment and Social Development Canada (ESDC) spokesperson explained that, due to the indexation process, tax child benefit payments, as well as income thresholds, increase every ...

Politics

49 h. ago Le député Kurek démissionne pour ouvrir la voie à une partielle pour Poilievre

Le député albertain avait promis de céder son siège dans la circonscription de Battle River—Crowfoot.

Society

61 h. ago Harvard Wins Reprieve, SALT Stalls: Tax Bill Winners and Losers

US businesses and wealthy universities scored major wins in the Senate Republicans’ version of President Donald Trump’s tax bill, while low-income Americans and clean energy providers are poised to be hit the hardest.

Economics

3 d. ago Some Canadians receiving increased GST credit payments next month

Some Canadians can expect to receive an increase in GST credit payments from the federal government soon.The Goods and Services Tax/Harmonized Sales Tax (GST/HST) credit is a tax-free quarterly payment, but this time it will include a 2.7 per cent increase.According to the government, the credit payment aims to help families with low and modest incomes offset the taxes they pay.If you’re eligible, you'll see the new amount in your bank account on Friday, July 4.Who's eligible for the payment?The government says you're generally eligible for the payment if you're at least 19 years old and a Canadian resident for income tax purposes a month before the Canada Revenue Agency (CRA) makes the payment at the beginning of the month.If you are under 19 years old, the government says you must meet at least one of the following conditions during the same period:You have (or had) a spouse or common-law partnerYou are (or were) a parent and live (or...

Economics

9 d. ago Credit rating agency says Manitoba’s recent tax changes outweigh affordability offers

The Manitoba government is expected to use more "revenue levers," similar to its recent income and property tax changes, as part of its plan to reduce the deficit.

Economics

2 w. ago EISEN and HILL: Smith government should reintroduce single income tax to drive economic growth

At $75,000 in income, Albertans still face the ninth-highest combined (federal and provincial) income tax rate out of 61 Canadian provinces and U.S. states.

Politics

3 w. ago ATCO says savings to come despite Alberta Utilities Commission decision

The company says customers will save over $500 million on distribution rates until 2028

Society

3 w. ago Even more people now have access to Canadian Dental Care Plan

Even more people are able to apply to the Canadian Dental Care Plan (CDCP) starting Thursday.The program, which was implemented in 2023, aims to lower dental costs for Canadians earning less than $90,000 a year.According to the federal government, the dental plan will help up to nine million uninsured people get access to oral health care.Earlier this month, Canadians ages 18 to 34 were able to apply for the CDCP. That age range expands on Thursday, May 29, to those aged 35 to 54.A notice from the government states that it will send letters to Canadian residents aged 18 to 64 who could be eligible for the CDCP based on their 2024 adjusted family net income.Eligible Canadians who have filed their 2024 tax returns and received their notice of assessment from the Canada Revenue Agency (CRA) can apply once applications open up for their age group, even if they haven't received the letter.Already covered by the dental care plan? Don't forget to renew for the 2025 to 2026 period b...

Transport

3 w. ago Canadians will be getting government money with payouts this week

Eligible Canadians will get money from the government this week through several federal programs and one provincial program.With many Canadians grappling with rising living costs, these benefits certainly go a long way, so make sure to check if you're eligible.This week, families in Alberta can look forward to the Alberta Child and Family Benefit (ACFB), which is paid out to each child. Eligible Canadians will receive three types of pensions this week: the Canada Pension Plan (CPP), the Old Age Security (OAS) pension, and the Veteran Disability Pension.Find out more about the different ways that Canadians will receive money from the government this week, along with the eligibility requirements for each program.Alberta Child and Family Benefit (ACFB) — May 27The Alberta Child and Family Benefit offers financial support to lower- and middle-income families with children under the age of 18. To be eligible, families must meet the income criteria, file a tax return, reside in ...

Politics

3 w. ago ‘Revenge Tax’: US Bill Hits Allies That Have Tax Rules Trump Doesn’t Like

Investors in nations with tax regimes that the US deems unfair would face higher tax rates on income earned in the US if the tax bill that’s making its way to the Senate becomes law.

Economics

4 w. ago Opinion: Why Alberta's proposed auto insurance system won't deliver as promised

Under a recent proposal called Care First, the Alberta government has promised to significantly increase the compensation paid to individuals injured in automobile accidents while simultaneously reducing premiums by 20 per cent. Has the UCP achieved the Holy Grail of politics: more benefits to voters, at lower cost? Unfortunately, the answer is “no.” It doesn’t […]

Economics