Cap on DTC consulting fees may hurt applicants | Investment Executive investmentexecutive.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from investmentexecutive.com Daily Mail and Mail on Sunday newspapers.
Rudy Mezzetta
This is the first instalment in a series examining the disability tax credit and related support programs for eligible Canadians.
Disability sector advocates are applauding federal government proposals to improve access to the disability tax credit (DTC) but say the DTC application process remains complex and lacks transparency. Advocates are concerned the Canada Revenue Agency (CRA) will remain an obstacle when it comes to ensuring those with disabilities receive the support to which they’re eligible.
“Anything to do with clarifying [DTC] eligibility requirements and broadening them is certainly welcome, but the devil will be in the details,” said Peter Weissman, partner at Cadesky and Associates LLP in Toronto and a former co-chair of the federal government’s disability advisory committee (DAC).
Disability advocates say budget proposals alone won t solve DTC access problems advisor.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from advisor.ca Daily Mail and Mail on Sunday newspapers.
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The Liberal government is moving ahead with measures from the 2019 federal budget that stalled before they were implemented, with changes to employee stock options, annuities and mutual fund trusts included in new legislation.
The 344-page bill includes measures related to transfers of commuted values to individual pension plans (IPPs), taxation of mutual funds and ETFs, new annuities under registered plans, and stock option deductions for employees.
While the implementation bill includes measures announced in this year’s budget to boost old age security and child-care spending, the Liberals’ proposal to impose a new tax on luxury vehicles is not part of the legislation.
Other work involves constructing additional shelter-bed spaces, common-area updates and general building maintenance. Due to the technical nature and size of the renovation, materials alone for the project are estimated to cost upwards of $200,000, double the typical renovation cost taken on by the organization. The renovation does not include the cost of replacing kitchen fixtures and appliances, which will be borne by the Salvation Army. HeroWork partners with up to 200 companies and more than 700 volunteers to work on infrastructure updates needed by non-profit organizations in what they call Radical Renovation projects. In the past decade, the group has completed $1 million of renovations for non-profits in the region.