Disability Tax Credit

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The 2021 Federal Budget included proposals that would see an expansion of the Disability Tax Credit to more Canadians. The Disability Tax Credit (DTC), with a value of $1,299 for 2021, is a non-refundable credit intended to offset the impact of disability-related costs. In order to claim this credit, a taxpayer must have a certificate confirming they have a severe and prolonged impairment in physical or mental function, or be….

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Canada Revenue Agency, Capacity Law, Caregiving, Disability, Elder Care, Estate Administration, Estate Planning, Executors, Tax Issues

Getting Lost In The System

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And I don’t mean figuratively, I mean literally.  I heard two stories this past week of two elderly individuals who are both quite compromised with dementia.  One lives in a retirement residence and the other lives in her own home with care support. In both instances, they had a fall and their caregiver called 911.  The ambulance did not allow their caregiver (PSW) to attend with them.  They were bundled….

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Elder Care

Bill 245 and Changes to the Succession Law Reform Act

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On February 5, 2021, I wrote a blog on Section 16(b) of the Succession Law Reform Act. Now, almost three months later, Ontario’s Bill 245 has received royal assent. Among many other changes to various pieces of legislation, Bill 245 revokes section 16 of the Succession Law Reform Act (the “SLRA”) in its entirety. Accordingly, a Will will no longer be revoked by a subsequent marriage of the testator. This….

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Uncategorized

Suggestions to Reduce the Potential for Elder Financial Abuse

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I suggest that improved screening for vulnerability to abuse is clearly needed for seniors appointing family members as attorneys for property…..

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Capacity Law, Caregiving, Elder Care, Estate Planning, Family Conflict, Fiduciary Professions, Geriatric Care Management, Guardianship, Passing Of Trustees’ and Executors’ Accounts, Power of Attorney, Powers Of Attorney and Guardianship Disputes

Bill C-208 the race to the finish line

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Bill C-208 (Bill), “an Act to amend the Income Tax Act (transfer of small business or family farm or fishing corporation)” is a private member’s bill introduced by Conservative MP, Larry Maguire[1] on February 19, 2020.  The purpose of this Bill is to allow share capital restructurings and inter-generational transfers within a family unit, which are sometimes caught by two prominent anti-avoidance provisions in the Income Tax Act (ITA), Sections 55….

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Business Succession Planning, Tax Issues

Federal 2021 Budget Highlights For Canadian Seniors

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Federal Budget 2021 Highlights summarized by National Institute on Ageing: Today’s blog will highlight important 2021 budget information as it relates to Seniors.  I have used  the NIA COMMENTARY ON THE 2021 FEDERAL BUDGET[1]  as they have said better that I. 1.       Delivering an Apology to Canada’s Seniors  Deputy Prime Minister and Minister of Finance Chrystia Freeland started off the Budget 2021 address with an apology to seniors,….

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Elder Care, In the News
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