2020 CHANGES TO WCB PREMIUMS
The Workers’ Compensation Board of Alberta (WCB) and the Government of Alberta have announced a new measure to assist private sector employers and mitigate the financial impacts of COVID-19.
We are still monitoring the ever-changing COVID-19 situation.
Again, we are taking the necessary steps to ensure the safety and health of our employees and our clients. For this reason, we are taking the following steps going forward.
You may not be required by law to file a tax return if you did not earn income during the year or owe tax, however, there are plenty of reasons to file a tax return anyways.
On December 19, 2019 the Department of Finance announced changes to the allowable automobile deduction limits and expense benefit rates.
Individuals 18 years of age and older may deposit up to $6,000 into a Tax-Free Savings Account (TFSA) in 2020. You do not need to have earned income to contribute to a TFSA. Consider a catch-up contribution if you have not contributed the maximum amounts for prior years.
Federal carbon tax will be imposed in Alberta on Jan 1, 2020. Due to Alberta repealing the provincial carbon tax the Federal Government has imposed the federal carbon tax, effective Jan 1, 2020.