WE NEED SOME CLARIFICATION FROM OUR MEMBERS WHO ARE ACCOUNTANTS OR TAX EXPERTS
On October 30, 2014,the Prime Minister announced some tax cuts and increased benefits to families. However, the Child Tax Credit is being eliminated and that is causing some concern for many parents.
The link below explains the tax cuts and new family benefits that will be added to take the place of the Child Tax Credit. I think it might be nice if someone who is an expert in this field could give us a layman's version of what this all means.
By all means check out the following links:
http://www.fin.gc.ca/n14/14-155-eng.asp