Monthly Archives: November 2013

Are you caring for an adult family member who is living with you?

You may be able to claim the caregiver amount if an adult family member lives with you and is dependent on you due to mental or physical impairments.  This family member may not necessarily be dependent on you financially; however if the dependent’s net income is over $21,435 this credit is not available. 

You must have a signed statement from a medical doctor showing when the impairment began and what the duration of the impairment is expected to be.

The caregiver tax credit was new for the 2012 taxation year.  It is substantial but only refundable if the caregiver has an income tax liability.  If you think you might qualify for this credit, give us a call.

Is there a new kid in town?

You may have seen some James Bond 007-like TV ads for Chartered Professional Accountants, and wondered why you haven’t heard of  them before.  It’s the same accountants – the Chartered Professional Accountants (CGA’s), the Certified Management Accountants (CMA’s),  and the Chartered Accountants (CA’s) – now united in the new professional association called the Chartered Professional Accountants (CPA’s).  This unification will be a benefit for our clients, employers of professional accountants, and accounting students.

The unified CPA eliminates redundancy caused by having 3 professional accounting associations.  All designated accountants will be regulated by one body, and under harmonized standards and regulations.  New CPAs will be trained under a common certification program. Confusion will be reduced, and hiring processes simplified for recruiters and business clients. In the next few months Clark, Robinson will be fully adopting the CPA designation, after B.C. legislation is passed.