Please click to read our 2023 Quarter 1 newsletter.

The Alberta Government is rolling out a program, with applications first being accepted January 18, 2023 to help with the rising costs of living. This consists of 6 $100 monthly payments.

The Leduc and Devon Chamber of Commerce have released a list of grants and programs that can be utilized in various different capacities and industries.

From everyone here at Reschke Fritz LLP Chartered Professional Accountants, we are wishing you a Happy New Year.

From our family to yours, we are wishing you all a very Merry Happy Holiday season. We continue to look ahead and forward to what 2023 will bring.

Please find our 2022 year end tax planning newsletter here.

Key highlights of the new Canada Dental Benefit program are that families with a household income under $90,000 may be eligible for direct payments from CRA, two payments per eligible child are available, and applications are being accepted as of December 1, 2022.

The government has proposed the introduction of the Tax-Free First Home Savings Account (FHSA). This new registered plan would give prospective first-time home buyers the ability to save $40,000 on a tax-free basis.

Canada Revenue Agency has outlined changes to the Climate Action Incentive (CAI) for the upcoming year, under the Pollution Pricing system.

The one-time top-up to the Canada Housing Benefit aims to help low-income renters with the cost of renting. You may be eligible for a tax-free one-time payment of $500 if your income and the amount that you pay on rent qualify.

Movember is a worldwide organization that helps raise money, making a difference in mental health, prostate and testicular cancer. They also support many different campaigns and projects each year.

Quarter 4 Reschke Fritz LLP Newsletter

We are thankful we were able to support local, while enjoying the nature and greenspace. We hope everyone had a great Thanksgiving weekend and were able to spend time with family and friends.

Tax instalments are payments you make throughout the year to cover the taxes you normally pay in one lump sum on April 30 of the following year. You pay these instalments during the year while you are earning the income, similar to how an employer deducts tax directly from each pay period.

‘The purpose of this notice is to provide information relating to the application of the luxury tax on certain vehicles. Vehicles that could be subject to the luxury tax include sedans, coupes, hatchbacks, convertibles, sport utility vehicles and light-duty pickup trucks priced above $100,000.’

Come and join us as Reschke Fritz LLP helps sponsor the 2022 Devon Chamber of Commerce Golf Tournament at the Devon Golf & Conference Centre.

The government of Alberta has published some information relating to the some affordability and relief programs.

The government of Canada introduced a national, annual 1% tax on the value of non-resident, non-Canadian-owned residential real estate in Canada that is considered to be vacant or underused, subject to certain exceptions. This was passed into law with Bill C-8 receiving Royal Assent on June 9, 2022. This tax is effective for 2022, and later calendar years.

As a taxpayer, you should be cautious if you receive any communication that claims to be from the Canada Revenue Agency (CRA) and requests personal information such as a social insurance number (SIN), credit card number, bank account number, or passport number