Canada Revenue Agency (CRA) estimates that about a million Canadians may be eligible for the disability tax credit certificate (DTC)—and not yet applied for it. Some people picture children or young adults as the primary recipients of the disability tax credit, but many seniors and others may also qualify.
On death, even the middle class could end up in the new 33% tax bracket, perhaps for the first time in their life, or death. Finance Minister Bill Morneau’s announcement that increases the top federal tax bracket from 29% to 33% could affect anyone dying after December 31, 2015 if the taxable income on their final tax return is over $200,000—and also increases the amount of provincial tax due. But it is said, the dead don’t complain. Continue reading “The Cost to Die Has Gone Up”