INSERT INTO `awfkc_posts` VALUES (1231,1,'2016-03-23 06:15:57','2016-03-23 10:15:57','<p><a href=\"http://www.moneysense.ca/tag/budget-2016/\" rel=\"attachment wp-att-150316\"><img class=\"alignnone size-full wp-image-150316\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg\" alt=\"Budget 2016 banner V2\" width=\"885\" height=\"300\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-300x102.jpg 300w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-768x260.jpg 768w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-660x224.jpg 660w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg 885w\" sizes=\"(max-width: 885px) 100vw, 885px\" /></a></p>\n<p>The federal budget made some important tax changes for families.  The good news is that the much rumoured increase to the capital gains inclusions rate did not come to fruition in this budget,  and the anticipated changes to stock option benefits have been deferred for now. But if you’ve invested in corporate class mutual funds, you&#8217;ll want to do any switching between funds on a tax-free basis now until September as that special tax-free treatment will disappear.</p>\n<p>Charities will also wince at the cancellation of a provision expected to begin in 2017, introduced in the last budget. That is, the donation of sales proceeds from a qualifying private corporate or real estate dispositions will no longer qualify for a capital gains exemption if proceeds are donated to charity.</p>\n<p>Families will be happy with the introduction of the <strong>Canada Child Benefit (CCB)</strong>, which is a refundable credit based on family net income. Specifically, the new CCB provides a maximum benefit of $6400 per child under age of six and $5400 per child age six to 17.</p>\n<p>How much you get is based on 2015 family net income, which is determined on the tax return (2015) currently being filed.  So be sure to dig for every deduction that reduces your net income on Line 236.  Also, a tip for the future:  RRSP planning for families is extremely important as clawback zones can bring marginal tax rates well over 50% in some cases:</p>\n<table>\n<tbody>\n<tr>\n<td></td>\n<td colspan=\"2\">Current Clawback Rules</td>\n</tr>\n<tr>\n<td>Income</td>\n<td>MTR(tax)</td>\n<td>MTR with clawbacks</td>\n</tr>\n<tr>\n<td>$30,000</td>\n<td>20.05%</td>\n<td>20.05%</td>\n</tr>\n<tr>\n<td>$40,000</td>\n<td>20.05%</td>\n<td>40.10%</td>\n</tr>\n<tr>\n<td><strong>$50,000</strong></td>\n<td><strong>29.65%</strong></td>\n<td><strong>51.15%</strong></td>\n</tr>\n<tr>\n<td><strong>$60,000</strong></td>\n<td><strong>29.65%</strong></td>\n<td><strong>51.15%</strong></td>\n</tr>\n<tr>\n<td><strong>$70,000</strong></td>\n<td><strong>29.65%</strong></td>\n<td><strong>51.15%</strong></td>\n</tr>\n<tr>\n<td><strong>$80,000</strong></td>\n<td><strong>31.48%</strong></td>\n<td><strong>72.48%</strong></td>\n</tr>\n<tr>\n<td><strong>$90,000</strong></td>\n<td><strong>37.91%</strong></td>\n<td><strong>58.41%</strong></td>\n</tr>\n<tr>\n<td><strong>$100,000</strong></td>\n<td><strong>43.41%</strong></td>\n<td><strong>63.91%</strong></td>\n</tr>\n<tr>\n<td><strong>$110,000</strong></td>\n<td><strong>43.41%</strong></td>\n<td><strong>63.91%</strong></td>\n</tr>\n<tr>\n<td>$120,000</td>\n<td>43.41%</td>\n<td>43.41%</td>\n</tr>\n<tr>\n<td>$130,000</td>\n<td>43.41%</td>\n<td>43.41%</td>\n</tr>\n<tr>\n<td>$140,000</td>\n<td>43.41%</td>\n<td>43.41%</td>\n</tr>\n<tr>\n<td>$150,000</td>\n<td>46.41%</td>\n<td>46.41%</td>\n</tr>\n<tr>\n<td>$160,000</td>\n<td>47.97%</td>\n<td>47.97%</td>\n</tr>\n<tr>\n<td>$170,000</td>\n<td>47.97%</td>\n<td>47.97%</td>\n</tr>\n<tr>\n<td>$180,000</td>\n<td>47.97%</td>\n<td>47.97%</td>\n</tr>\n<tr>\n<td>$190,000</td>\n<td>47.97%</td>\n<td>47.97%</td>\n</tr>\n<tr>\n<td>$200,000</td>\n<td>47.97%</td>\n<td>47.97%</td>\n</tr>\n<tr>\n<td><strong>$210,000</strong></td>\n<td><strong>51.97%</strong></td>\n<td><strong>51.97%</strong></td>\n</tr>\n<tr>\n<td><strong>$220,000</strong></td>\n<td><strong>51.97%</strong></td>\n<td><strong>51.97%</strong></td>\n</tr>\n<tr>\n<td><strong>$220,000+</strong></td>\n<td><strong>53.53%</strong></td>\n<td><strong>53.53%</strong></td>\n</tr>\n</tbody>\n</table>\n<p>Do refugees get the benefits?  Foreign-born individuals who are Indians and not Canadian citizens and permanent residents under the Immigration and Refugee Protection Act may legally reside in Canada and receive the CCB. A new limitation is being introduced with regard to eligibility for retroactive payments. Currently individuals may apply for CCTB and Universal Child Care Benefit (UCCB) as far back as the introduction of the programs. Income-tax based credits, however, are limited to a 10-year limitation. Retroactive application of UCCB and CTB will align after 2016, to the 10-year limitation.</p>\n<p>Unfortunately, there is no non-refundable tax credit for minor children for those who do not qualify for the income-tested benefits. This was removed when the previous government introduced the UCCB enhancements and the Family Tax Cut.</p>\n<p>Other non-refundable tax credits will be removed as well:  the education/textbook amounts will disappear, as will the refundable children’s fitness credit.</p>\n<h3><strong>The Canada Child Benefit: See how it affects you </strong></h3>\n<p>The changes the Liberal government has introduced for families has varying result, depending on family net income, how many children the family has, and whether they are under six or six to 17. We did some calculations at Knowledge Bureau to see how families fare in 2016.</p>\n<p>The key learnings are that while middle-income families are generously rewarded with the combination of tax rate reductions and enhanced refundable tax credits, but their marginal tax rates increase significantly as incomes rise to an upper middle class range:  50% for income levels between $70,000 and $80,000 and over<strong> 67% </strong>for income levels between $90,000 and $120,000.<strong> </strong>This makes RRSP planning a must for those families in order to reduce family net income below the $70,000 threshold.</p>\n<p>Let’s look now at the effects of the changes on a low-income family. In this case, net family income is $30,000 and there are three little children in the family – each under six:</p>\n<p><strong>Scenario: Ontario family has three children under 6 and family net income of $30,000</strong></p>\n<table>\n<tbody>\n<tr>\n<td></td>\n<td colspan=\"3\">Both work ($15K each)</td>\n<td colspan=\"3\">One Works ($30K)</td>\n</tr>\n<tr>\n<td></td>\n<td>Old Rules</td>\n<td>New Rules</td>\n<td>Difference</td>\n<td>Old Rules</td>\n<td>New Rules</td>\n<td>Difference</td>\n</tr>\n<tr>\n<td>Earned Income</td>\n<td>$30,000</td>\n<td>$30,000</td>\n<td>$0</td>\n<td>$30,000</td>\n<td>$30,000</td>\n<td>$0</td>\n</tr>\n<tr>\n<td>&#8211; Federal Tax</td>\n<td>1,318</td>\n<td>454</td>\n<td>+864</td>\n<td>1,466</td>\n<td>602</td>\n<td>+864</td>\n</tr>\n<tr>\n<td>&#8211; Provincial Tax</td>\n<td>0</td>\n<td>0</td>\n<td>0</td>\n<td>0</td>\n<td>0</td>\n<td>0</td>\n</tr>\n<tr>\n<td>= Net After Tax</td>\n<td>$28,682</td>\n<td>$29,546</td>\n<td>+$864</td>\n<td>$28,534</td>\n<td>$29,398</td>\n<td>+$864</td>\n</tr>\n<tr>\n<td>+ UCCB</td>\n<td>5,760</td>\n<td>0</td>\n<td>-5,760</td>\n<td>5,760</td>\n<td>0</td>\n<td>-5,760</td>\n</tr>\n<tr>\n<td>+ CTB</td>\n<td>9,656</td>\n<td>19,200</td>\n<td>+9,544</td>\n<td>9,656</td>\n<td>19,200</td>\n<td>+9,544</td>\n</tr>\n<tr>\n<td>+ GSTC</td>\n<td>987</td>\n<td>987</td>\n<td>0</td>\n<td>987</td>\n<td>987</td>\n<td>0</td>\n</tr>\n<tr>\n<td>+ Prov CTB</td>\n<td>3,324</td>\n<td>3,324</td>\n<td>0</td>\n<td>3,324</td>\n<td>3,324</td>\n<td>0</td>\n</tr>\n<tr>\n<td>= Total Income</td>\n<td>$48,409</td>\n<td>$53,057</td>\n<td>+$4,648</td>\n<td>$48,261</td>\n<td>$52,909</td>\n<td>+$4,648</td>\n</tr>\n<tr>\n<td>Monthly Income</td>\n<td>$4,034</td>\n<td>$4,421</td>\n<td>+$387</td>\n<td>$4,022</td>\n<td>$4,409</td>\n<td>+$387</td>\n</tr>\n</tbody>\n</table>\n<p><em>Source: Knowledge Bureau, Inc.</em></p>\n<p><strong>Conclusions:</strong></p>\n<ul>\n<li>Under the new rules a low-income family with three children will be better off by almost $400 per month.</li>\n<li>This family has after-tax income of $4,409 per month.</li>\n<li>Whether single-earner or two working spouses makes little difference.</li>\n<li>The tax system added 75% to earned income under the new rules with one earner.</li>\n</ul>\n<h3>Higher Income Earners</h3>\n<p>Now let’s take a look at the amount of <strong>Canada Child Benefit</strong> receivable and resulting marginal tax rates at higher income levels. The scenario is the following: Ontario family has three children under 6 and various family net income levels below.  But in this case one spouse is working. First let’s take a look at the old rules:</p>\n<p><strong>Table 1: Old Rules</strong></p>\n<table>\n<tbody>\n<tr>\n<td width=\"71\">Income</td>\n<td width=\"68\">Income Tax</td>\n<td width=\"67\">UCCB</td>\n<td width=\"67\">CTB</td>\n<td width=\"65\">GSTC</td>\n<td width=\"71\">After Tax</td>\n<td width=\"59\">Effective Tax Rate</td>\n</tr>\n<tr>\n<td width=\"71\">$30,000</td>\n<td width=\"68\">$1,466</td>\n<td width=\"67\">$5,760</td>\n<td width=\"67\">$9,656</td>\n<td width=\"65\">$987</td>\n<td width=\"71\">$44,937</td>\n<td width=\"59\">-50%</td>\n</tr>\n<tr>\n<td width=\"71\">$40,000</td>\n<td width=\"68\">3,406</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">6,140</td>\n<td width=\"65\">652</td>\n<td width=\"71\">$49,146</td>\n<td width=\"59\">-23%</td>\n</tr>\n<tr>\n<td width=\"71\">$50,000</td>\n<td width=\"68\">6,101</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">4,385</td>\n<td width=\"65\">152</td>\n<td width=\"71\">$54,196</td>\n<td width=\"59\">-8%</td>\n</tr>\n<tr>\n<td width=\"71\">$60,000</td>\n<td width=\"68\">9,165</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">3,985</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$60,580</td>\n<td width=\"59\">-1%</td>\n</tr>\n<tr>\n<td width=\"71\">$70,000</td>\n<td width=\"68\">12,280</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">3,585</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$67,065</td>\n<td width=\"59\">+4%</td>\n</tr>\n<tr>\n<td width=\"71\">$80,000</td>\n<td width=\"68\">15,549</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">3,185</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$73,396</td>\n<td width=\"59\">+8%</td>\n</tr>\n<tr>\n<td width=\"71\">$90,000</td>\n<td width=\"68\">19,014</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">2,785</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$79,531</td>\n<td width=\"59\">+12%</td>\n</tr>\n<tr>\n<td width=\"71\">$100,000</td>\n<td width=\"68\">23,268</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">2,385</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$84,877</td>\n<td width=\"59\">+15%</td>\n</tr>\n<tr>\n<td width=\"71\">$110,000</td>\n<td width=\"68\">27,609</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">1,985</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$90,136</td>\n<td width=\"59\">+18%</td>\n</tr>\n<tr>\n<td width=\"71\">$120,000</td>\n<td width=\"68\">31,949</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">1,585</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$95,396</td>\n<td width=\"59\">+21%</td>\n</tr>\n<tr>\n<td width=\"71\">$130,000</td>\n<td width=\"68\">36,291</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">1,185</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$100,654</td>\n<td width=\"59\">+23%</td>\n</tr>\n<tr>\n<td width=\"71\">$140,000</td>\n<td width=\"68\">40,632</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">785</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$105,913</td>\n<td width=\"59\">+24%</td>\n</tr>\n<tr>\n<td width=\"71\">$150,000</td>\n<td width=\"68\">45,261</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">385</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$110,884</td>\n<td width=\"59\">+26%</td>\n</tr>\n<tr>\n<td width=\"71\">$160,000</td>\n<td width=\"68\">50,058</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">0</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$115,702</td>\n<td width=\"59\">+28%</td>\n</tr>\n</tbody>\n</table>\n<p><em>©2016 Knowledge Bureau, Inc.  All Rights Reserved.</em></p>\n<p>Note that negative figures represent an excess of benefits received over taxes payable. Below, we take a look at what happens under the new rules with our three-child family. We note taxes payable are netted out with eligible refundable tax credits, and compare the results to the old rules.</p>\n<p><strong>Table 2: New Rules</strong></p>\n<table>\n<tbody>\n<tr>\n<td width=\"67\">Income</td>\n<td width=\"50\">Income Tax</td>\n<td width=\"35\">UCCB</td>\n<td width=\"43\">CCB</td>\n<td width=\"43\">GSTC</td>\n<td width=\"57\">Net Tax</td>\n<td width=\"47\">Effective Tax Rate</td>\n<td width=\"59\">Difference</td>\n<td width=\"29\">% Diff</td>\n<td width=\"46\">MTR</td>\n</tr>\n<tr>\n<td width=\"67\">$30,000</td>\n<td width=\"50\">$602</td>\n<td width=\"35\">$0</td>\n<td width=\"43\">$19,200</td>\n<td width=\"43\">$987</td>\n<td width=\"57\">$49,585</td>\n<td width=\"47\">-65%</td>\n<td width=\"59\">$4,648</td>\n<td width=\"29\">15%</td>\n<td width=\"46\">15%</td>\n</tr>\n<tr>\n<td width=\"67\">$40,000</td>\n<td width=\"50\">3,406</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$17,300</td>\n<td width=\"43\">652</td>\n<td width=\"57\">$54,546</td>\n<td width=\"47\">-36%</td>\n<td width=\"59\">$5,400</td>\n<td width=\"29\">14%</td>\n<td width=\"46\">43.15%</td>\n</tr>\n<tr>\n<td width=\"67\">$50,000</td>\n<td width=\"50\">6,030</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$15,400</td>\n<td width=\"43\">152</td>\n<td width=\"57\">$59,522</td>\n<td width=\"47\">-19%</td>\n<td width=\"59\">$5,326</td>\n<td width=\"29\">11%</td>\n<td width=\"46\">48.65%</td>\n</tr>\n<tr>\n<td width=\"67\">$60,000</td>\n<td width=\"50\">8,944</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$13,500</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$64,556</td>\n<td width=\"47\">-8%</td>\n<td width=\"59\">$3,976</td>\n<td width=\"29\">7%</td>\n<td width=\"46\">48.65%</td>\n</tr>\n<tr>\n<td width=\"67\">$70,000</td>\n<td width=\"50\">11,909</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$12,150</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$70,241</td>\n<td width=\"47\">0%</td>\n<td width=\"59\">$3,176</td>\n<td width=\"29\">5%</td>\n<td width=\"46\">37.15%</td>\n</tr>\n<tr>\n<td width=\"67\">$80,000</td>\n<td width=\"50\">15,028</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$11,350</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$76,322</td>\n<td width=\"47\">5%</td>\n<td width=\"59\">$2,926</td>\n<td width=\"29\">4%</td>\n<td width=\"46\">39.48%</td>\n</tr>\n<tr>\n<td width=\"67\">$90,000</td>\n<td width=\"50\">18,343</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$10,550</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$82,207</td>\n<td width=\"47\">9%</td>\n<td width=\"59\">$2,676</td>\n<td width=\"29\">3%</td>\n<td width=\"46\">45.91%</td>\n</tr>\n<tr>\n<td width=\"67\">$100,000</td>\n<td width=\"50\">22,588</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$9,750</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$87,162</td>\n<td width=\"47\">13%</td>\n<td width=\"59\">$2,285</td>\n<td width=\"29\">2%</td>\n<td width=\"46\">51.41%</td>\n</tr>\n<tr>\n<td width=\"67\">$110,000</td>\n<td width=\"50\">26,929</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$8,950</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$92,021</td>\n<td width=\"47\">16%</td>\n<td width=\"59\">$1,885</td>\n<td width=\"29\">2%</td>\n<td width=\"46\">51.41%</td>\n</tr>\n<tr>\n<td width=\"67\">$120,000</td>\n<td width=\"50\">31,370</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$8,150</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$96,780</td>\n<td width=\"47\">19%</td>\n<td width=\"59\">$1,384</td>\n<td width=\"29\">1%</td>\n<td width=\"46\">51.41%</td>\n</tr>\n<tr>\n<td width=\"67\">$130,000</td>\n<td width=\"50\">35,611</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$7,350</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$101,739</td>\n<td width=\"47\">22%</td>\n<td width=\"59\">$1,085</td>\n<td width=\"29\">1%</td>\n<td width=\"46\">51.41%</td>\n</tr>\n<tr>\n<td width=\"67\">$140,000</td>\n<td width=\"50\">39,952</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$6,550</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$106,598</td>\n<td width=\"47\">24%</td>\n<td width=\"59\">$685</td>\n<td width=\"29\">0%</td>\n<td width=\"46\">51.41%</td>\n</tr>\n<tr>\n<td width=\"67\">$150,000</td>\n<td width=\"50\">44,582</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$5,750</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$111,168</td>\n<td width=\"47\">26%</td>\n<td width=\"59\">$284</td>\n<td width=\"29\">0%</td>\n<td width=\"46\">55.97%</td>\n</tr>\n<tr>\n<td width=\"67\">$160,000</td>\n<td width=\"50\">49,379</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$4,950</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$115,571</td>\n<td width=\"47\">28%</td>\n<td width=\"59\">-$131</td>\n<td width=\"29\">0%</td>\n<td width=\"46\">55.97%</td>\n</tr>\n</tbody>\n</table>\n<p><em>©2016 Knowledge Bureau, Inc.  All Rights Reserved.</em></p>\n<p><strong>Conclusions:</strong></p>\n<ul>\n<li>Family net income can be as high as $70,000 before any net tax is paid (that is, taxes payable less refundable credits received)</li>\n<li>When this family’s income reaches $160,000 it is evident that the UCCB provided more money. In addition the family’s marginal tax rate is quite high, when the clawback of the CCB is taken into account</li>\n<li>However, while high income earners received more benefits under the UCCB regime, the Canada Child Benefit delivers at least some dollars to a broader number of high income families, as illustrated with the high income cut off chart below. In fact, marginal tax rates are over 50% for income levels exceed $100,000 when we take the clawbacks into account. That makes RRSP planning important for families. The deduction of the contribution will help to reduce family net income levels. Child care expense deductions and carry charges on investments are examples of two other deductions that reduce family net income</li>\n</ul>\n<h3>High Income Cut Offs for Canada Child Benefit</h3>\n<p>The following table shows the income level at which the CCB will be eliminated for various families. The full benefit is only received up to family net income of $30,000 but the benefit is available over a surprisingly large income range.</p>\n<table>\n<tbody>\n<tr>\n<td><strong>Ages of Children</strong></td>\n<td><strong>Income Cut-Off</strong></td>\n</tr>\n<tr>\n<td>1 child under 6</td>\n<td>$188,437</td>\n</tr>\n<tr>\n<td>1 child over 6</td>\n<td>$157,187</td>\n</tr>\n<tr>\n<td>2 children, both under 6</td>\n<td>$206,667</td>\n</tr>\n<tr>\n<td>2 children, one under 6</td>\n<td>$189,123</td>\n</tr>\n<tr>\n<td>2 children, both over 5</td>\n<td>$171,579</td>\n</tr>\n<tr>\n<td>3 children all under 6</td>\n<td>$221,875</td>\n</tr>\n<tr>\n<td>3 children, two under 6</td>\n<td>$209,375</td>\n</tr>\n<tr>\n<td>3 children, one under 6</td>\n<td>$196,875</td>\n</tr>\n<tr>\n<td>3 children, all over 5</td>\n<td>$184,375</td>\n</tr>\n<tr>\n<td>4 children, all under 6</td>\n<td>$249,737</td>\n</tr>\n<tr>\n<td>4 children, three under 6</td>\n<td>$239,211</td>\n</tr>\n<tr>\n<td>4 children, two under 6</td>\n<td>$228,684</td>\n</tr>\n<tr>\n<td>4 children, one under 6</td>\n<td>$218,158</td>\n</tr>\n<tr>\n<td>4 children, all over 5</td>\n<td>$207,631</td>\n</tr>\n</tbody>\n</table>\n<h3>Single Child Families</h3>\n<p>In the following scenarios, we take a look at the results under old and new rules that focus on the removal of the UCCB in favour of the CCB and the net results for families at $30,000, $60,000 and $120,000.  In this case, there is only one child.</p>\n<table>\n<tbody>\n<tr>\n<td rowspan=\"2\"><strong>Family </strong></p>\n<p><strong>Income</strong></td>\n<td rowspan=\"2\"><strong>One</strong></p>\n<p><strong>Child</strong></td>\n<td colspan=\"4\"><strong>Old Rules</strong></td>\n<td colspan=\"4\"><strong>New Rules</strong></td>\n<td><strong> </strong></td>\n</tr>\n<tr>\n<td><strong>Income Tax</strong></td>\n<td><strong>CTB</strong></td>\n<td><strong>UCCB</strong></td>\n<td><strong>Net</strong></td>\n<td><strong>Income Tax</strong></td>\n<td><strong>CCB</strong></td>\n<td><strong>UCCB</strong></td>\n<td><strong>Net</strong></td>\n<td><strong>Difference</strong></td>\n</tr>\n<tr>\n<td><strong>$30,000</strong></td>\n<td><strong>&lt;6</strong></td>\n<td>$1,466</td>\n<td>$3,354</td>\n<td>$1,920</td>\n<td>$33,808</td>\n<td>$602</td>\n<td>$6,400</td>\n<td>$   &#8211;</td>\n<td>$35,798</td>\n<td>$1,990</td>\n</tr>\n<tr>\n<td><strong>$30,000</strong></td>\n<td><strong>&gt;5</strong></td>\n<td>$1,466</td>\n<td>$3,354</td>\n<td>$720</td>\n<td>$32,608</td>\n<td>$602</td>\n<td>$5,400</td>\n<td>$   &#8211;</td>\n<td>$34,798</td>\n<td>$2,190</td>\n</tr>\n<tr>\n<td><strong> $60,000 </strong></td>\n<td><strong>&lt;6</strong></td>\n<td>$9,506</td>\n<td>$1,195</td>\n<td>$1,920</td>\n<td>$53,609</td>\n<td>$     8,944</td>\n<td>$   4,300</td>\n<td>$     &#8211;</td>\n<td>$   55,356</td>\n<td>$1,747</td>\n</tr>\n<tr>\n<td><strong> $60,000 </strong></td>\n<td><strong>&gt;5</strong></td>\n<td>$9,273</td>\n<td>$1,195</td>\n<td>$720</td>\n<td>$52,409</td>\n<td>$     8,944</td>\n<td>$   3,300</td>\n<td>$     &#8211;</td>\n<td>$ 54,356</td>\n<td>$1,947</td>\n</tr>\n<tr>\n<td><strong> $120,000 </strong></td>\n<td><strong>&lt;6</strong></td>\n<td>$32,322</td>\n<td>$0</td>\n<td>$1,920</td>\n<td>$89,598</td>\n<td>$ 31,270</td>\n<td>$ 2,190</td>\n<td>$     &#8211;</td>\n<td>$   90,920</td>\n<td>$1,322</td>\n</tr>\n<tr>\n<td><strong> $120,000 </strong></td>\n<td><strong>&gt;5</strong></td>\n<td>$32,058</td>\n<td>$0</td>\n<td>$720</td>\n<td>$88,398</td>\n<td>$ 31,270</td>\n<td>$   1,190</td>\n<td>$     &#8211;</td>\n<td>$   89,920</td>\n<td>$1,522</td>\n</tr>\n</tbody>\n</table>\n<p>Of note is the fact that single-child families are better off with one child under the new rules at either age and across large income ranges. And that’s certainly good news!</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/save/taxes/budget-winners-and-losers-child-benefit/\">The winners and losers of the Canada Child Benefit</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','The winners and losers of the Canada Child Benefit','<p>Our tax expert crunches the numbers </p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/save/taxes/budget-winners-and-losers-child-benefit/\">The winners and losers of the Canada Child Benefit</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','inherit','closed','closed','','1014-revision-v1','','','2016-03-23 06:15:57','2016-03-23 10:15:57','',1014,'http://feedwordpress.radgeek.com/?rev=316a827730693c9bf36d604468b0abb9',0,'revision','',0),(1232,1,'2016-03-23 06:15:57','2016-03-23 10:15:57','<p><a href=\"http://www.moneysense.ca/tag/budget-2016/\" rel=\"attachment wp-att-150316\"><img class=\"alignnone size-full wp-image-150316\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg\" alt=\"Budget 2016 banner V2\" width=\"885\" height=\"300\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-300x102.jpg 300w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-768x260.jpg 768w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-660x224.jpg 660w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg 885w\" sizes=\"(max-width: 885px) 100vw, 885px\" /></a></p>\n<p>The federal budget made some important tax changes for families.  The good news is that the much rumoured increase to the capital gains inclusions rate did not come to fruition in this budget,  and the anticipated changes to stock option benefits have been deferred for now. But if you’ve invested in corporate class mutual funds, you&#8217;ll want to do any switching between funds on a tax-free basis now until September as that special tax-free treatment will disappear.</p>\n<p>Charities will also wince at the cancellation of a provision expected to begin in 2017, introduced in the last budget. That is, the donation of sales proceeds from a qualifying private corporate or real estate dispositions will no longer qualify for a capital gains exemption if proceeds are donated to charity.</p>\n<p>Families will be happy with the introduction of the <strong>Canada Child Benefit (CCB)</strong>, which is a refundable credit based on family net income. Specifically, the new CCB provides a maximum benefit of $6400 per child under age of six and $5400 per child age six to 17.</p>\n<p>How much you get is based on 2015 family net income, which is determined on the tax return (2015) currently being filed.  So be sure to dig for every deduction that reduces your net income on Line 236.  Also, a tip for the future:  RRSP planning for families is extremely important as clawback zones can bring marginal tax rates well over 50% in some cases:</p>\n<table>\n<tbody>\n<tr>\n<td></td>\n<td colspan=\"2\">Current Clawback Rules</td>\n</tr>\n<tr>\n<td>Income</td>\n<td>MTR(tax)</td>\n<td>MTR with clawbacks</td>\n</tr>\n<tr>\n<td>$30,000</td>\n<td>20.05%</td>\n<td>20.05%</td>\n</tr>\n<tr>\n<td>$40,000</td>\n<td>20.05%</td>\n<td>40.10%</td>\n</tr>\n<tr>\n<td><strong>$50,000</strong></td>\n<td><strong>29.65%</strong></td>\n<td><strong>51.15%</strong></td>\n</tr>\n<tr>\n<td><strong>$60,000</strong></td>\n<td><strong>29.65%</strong></td>\n<td><strong>51.15%</strong></td>\n</tr>\n<tr>\n<td><strong>$70,000</strong></td>\n<td><strong>29.65%</strong></td>\n<td><strong>51.15%</strong></td>\n</tr>\n<tr>\n<td><strong>$80,000</strong></td>\n<td><strong>31.48%</strong></td>\n<td><strong>72.48%</strong></td>\n</tr>\n<tr>\n<td><strong>$90,000</strong></td>\n<td><strong>37.91%</strong></td>\n<td><strong>58.41%</strong></td>\n</tr>\n<tr>\n<td><strong>$100,000</strong></td>\n<td><strong>43.41%</strong></td>\n<td><strong>63.91%</strong></td>\n</tr>\n<tr>\n<td><strong>$110,000</strong></td>\n<td><strong>43.41%</strong></td>\n<td><strong>63.91%</strong></td>\n</tr>\n<tr>\n<td>$120,000</td>\n<td>43.41%</td>\n<td>43.41%</td>\n</tr>\n<tr>\n<td>$130,000</td>\n<td>43.41%</td>\n<td>43.41%</td>\n</tr>\n<tr>\n<td>$140,000</td>\n<td>43.41%</td>\n<td>43.41%</td>\n</tr>\n<tr>\n<td>$150,000</td>\n<td>46.41%</td>\n<td>46.41%</td>\n</tr>\n<tr>\n<td>$160,000</td>\n<td>47.97%</td>\n<td>47.97%</td>\n</tr>\n<tr>\n<td>$170,000</td>\n<td>47.97%</td>\n<td>47.97%</td>\n</tr>\n<tr>\n<td>$180,000</td>\n<td>47.97%</td>\n<td>47.97%</td>\n</tr>\n<tr>\n<td>$190,000</td>\n<td>47.97%</td>\n<td>47.97%</td>\n</tr>\n<tr>\n<td>$200,000</td>\n<td>47.97%</td>\n<td>47.97%</td>\n</tr>\n<tr>\n<td><strong>$210,000</strong></td>\n<td><strong>51.97%</strong></td>\n<td><strong>51.97%</strong></td>\n</tr>\n<tr>\n<td><strong>$220,000</strong></td>\n<td><strong>51.97%</strong></td>\n<td><strong>51.97%</strong></td>\n</tr>\n<tr>\n<td><strong>$220,000+</strong></td>\n<td><strong>53.53%</strong></td>\n<td><strong>53.53%</strong></td>\n</tr>\n</tbody>\n</table>\n<p>Do refugees get the benefits?  Foreign-born individuals who are Indians and not Canadian citizens and permanent residents under the Immigration and Refugee Protection Act may legally reside in Canada and receive the CCB. A new limitation is being introduced with regard to eligibility for retroactive payments. Currently individuals may apply for CCTB and Universal Child Care Benefit (UCCB) as far back as the introduction of the programs. Income-tax based credits, however, are limited to a 10-year limitation. Retroactive application of UCCB and CTB will align after 2016, to the 10-year limitation.</p>\n<p>Unfortunately, there is no non-refundable tax credit for minor children for those who do not qualify for the income-tested benefits. This was removed when the previous government introduced the UCCB enhancements and the Family Tax Cut.</p>\n<p>Other non-refundable tax credits will be removed as well:  the education/textbook amounts will disappear, as will the refundable children’s fitness credit.</p>\n<h3><strong>The Canada Child Benefit: See how it affects you </strong></h3>\n<p>The changes the Liberal government has introduced for families has varying result, depending on family net income, how many children the family has, and whether they are under six or six to 17. We did some calculations at Knowledge Bureau to see how families fare in 2016.</p>\n<p>The key learnings are that while middle-income families are generously rewarded with the combination of tax rate reductions and enhanced refundable tax credits, but their marginal tax rates increase significantly as incomes rise to an upper middle class range:  50% for income levels between $70,000 and $80,000 and over<strong> 67% </strong>for income levels between $90,000 and $120,000.<strong> </strong>This makes RRSP planning a must for those families in order to reduce family net income below the $70,000 threshold.</p>\n<p>Let’s look now at the effects of the changes on a low-income family. In this case, net family income is $30,000 and there are three little children in the family – each under six:</p>\n<p><strong>Scenario: Ontario family has three children under 6 and family net income of $30,000</strong></p>\n<table>\n<tbody>\n<tr>\n<td></td>\n<td colspan=\"3\">Both work ($15K each)</td>\n<td colspan=\"3\">One Works ($30K)</td>\n</tr>\n<tr>\n<td></td>\n<td>Old Rules</td>\n<td>New Rules</td>\n<td>Difference</td>\n<td>Old Rules</td>\n<td>New Rules</td>\n<td>Difference</td>\n</tr>\n<tr>\n<td>Earned Income</td>\n<td>$30,000</td>\n<td>$30,000</td>\n<td>$0</td>\n<td>$30,000</td>\n<td>$30,000</td>\n<td>$0</td>\n</tr>\n<tr>\n<td>&#8211; Federal Tax</td>\n<td>1,318</td>\n<td>454</td>\n<td>+864</td>\n<td>1,466</td>\n<td>602</td>\n<td>+864</td>\n</tr>\n<tr>\n<td>&#8211; Provincial Tax</td>\n<td>0</td>\n<td>0</td>\n<td>0</td>\n<td>0</td>\n<td>0</td>\n<td>0</td>\n</tr>\n<tr>\n<td>= Net After Tax</td>\n<td>$28,682</td>\n<td>$29,546</td>\n<td>+$864</td>\n<td>$28,534</td>\n<td>$29,398</td>\n<td>+$864</td>\n</tr>\n<tr>\n<td>+ UCCB</td>\n<td>5,760</td>\n<td>0</td>\n<td>-5,760</td>\n<td>5,760</td>\n<td>0</td>\n<td>-5,760</td>\n</tr>\n<tr>\n<td>+ CTB</td>\n<td>9,656</td>\n<td>19,200</td>\n<td>+9,544</td>\n<td>9,656</td>\n<td>19,200</td>\n<td>+9,544</td>\n</tr>\n<tr>\n<td>+ GSTC</td>\n<td>987</td>\n<td>987</td>\n<td>0</td>\n<td>987</td>\n<td>987</td>\n<td>0</td>\n</tr>\n<tr>\n<td>+ Prov CTB</td>\n<td>3,324</td>\n<td>3,324</td>\n<td>0</td>\n<td>3,324</td>\n<td>3,324</td>\n<td>0</td>\n</tr>\n<tr>\n<td>= Total Income</td>\n<td>$48,409</td>\n<td>$53,057</td>\n<td>+$4,648</td>\n<td>$48,261</td>\n<td>$52,909</td>\n<td>+$4,648</td>\n</tr>\n<tr>\n<td>Monthly Income</td>\n<td>$4,034</td>\n<td>$4,421</td>\n<td>+$387</td>\n<td>$4,022</td>\n<td>$4,409</td>\n<td>+$387</td>\n</tr>\n</tbody>\n</table>\n<p><em>Source: Knowledge Bureau, Inc.</em></p>\n<p><strong>Conclusions:</strong></p>\n<ul>\n<li>Under the new rules a low-income family with three children will be better off by almost $400 per month.</li>\n<li>This family has after-tax income of $4,409 per month.</li>\n<li>Whether single-earner or two working spouses makes little difference.</li>\n<li>The tax system added 75% to earned income under the new rules with one earner.</li>\n</ul>\n<h3>Higher Income Earners</h3>\n<p>Now let’s take a look at the amount of <strong>Canada Child Benefit</strong> receivable and resulting marginal tax rates at higher income levels. The scenario is the following: Ontario family has three children under 6 and various family net income levels below.  But in this case one spouse is working. First let’s take a look at the old rules:</p>\n<p><strong>Table 1: Old Rules</strong></p>\n<table>\n<tbody>\n<tr>\n<td width=\"71\">Income</td>\n<td width=\"68\">Income Tax</td>\n<td width=\"67\">UCCB</td>\n<td width=\"67\">CTB</td>\n<td width=\"65\">GSTC</td>\n<td width=\"71\">After Tax</td>\n<td width=\"59\">Effective Tax Rate</td>\n</tr>\n<tr>\n<td width=\"71\">$30,000</td>\n<td width=\"68\">$1,466</td>\n<td width=\"67\">$5,760</td>\n<td width=\"67\">$9,656</td>\n<td width=\"65\">$987</td>\n<td width=\"71\">$44,937</td>\n<td width=\"59\">-50%</td>\n</tr>\n<tr>\n<td width=\"71\">$40,000</td>\n<td width=\"68\">3,406</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">6,140</td>\n<td width=\"65\">652</td>\n<td width=\"71\">$49,146</td>\n<td width=\"59\">-23%</td>\n</tr>\n<tr>\n<td width=\"71\">$50,000</td>\n<td width=\"68\">6,101</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">4,385</td>\n<td width=\"65\">152</td>\n<td width=\"71\">$54,196</td>\n<td width=\"59\">-8%</td>\n</tr>\n<tr>\n<td width=\"71\">$60,000</td>\n<td width=\"68\">9,165</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">3,985</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$60,580</td>\n<td width=\"59\">-1%</td>\n</tr>\n<tr>\n<td width=\"71\">$70,000</td>\n<td width=\"68\">12,280</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">3,585</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$67,065</td>\n<td width=\"59\">+4%</td>\n</tr>\n<tr>\n<td width=\"71\">$80,000</td>\n<td width=\"68\">15,549</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">3,185</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$73,396</td>\n<td width=\"59\">+8%</td>\n</tr>\n<tr>\n<td width=\"71\">$90,000</td>\n<td width=\"68\">19,014</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">2,785</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$79,531</td>\n<td width=\"59\">+12%</td>\n</tr>\n<tr>\n<td width=\"71\">$100,000</td>\n<td width=\"68\">23,268</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">2,385</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$84,877</td>\n<td width=\"59\">+15%</td>\n</tr>\n<tr>\n<td width=\"71\">$110,000</td>\n<td width=\"68\">27,609</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">1,985</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$90,136</td>\n<td width=\"59\">+18%</td>\n</tr>\n<tr>\n<td width=\"71\">$120,000</td>\n<td width=\"68\">31,949</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">1,585</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$95,396</td>\n<td width=\"59\">+21%</td>\n</tr>\n<tr>\n<td width=\"71\">$130,000</td>\n<td width=\"68\">36,291</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">1,185</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$100,654</td>\n<td width=\"59\">+23%</td>\n</tr>\n<tr>\n<td width=\"71\">$140,000</td>\n<td width=\"68\">40,632</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">785</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$105,913</td>\n<td width=\"59\">+24%</td>\n</tr>\n<tr>\n<td width=\"71\">$150,000</td>\n<td width=\"68\">45,261</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">385</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$110,884</td>\n<td width=\"59\">+26%</td>\n</tr>\n<tr>\n<td width=\"71\">$160,000</td>\n<td width=\"68\">50,058</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">0</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$115,702</td>\n<td width=\"59\">+28%</td>\n</tr>\n</tbody>\n</table>\n<p><em>©2016 Knowledge Bureau, Inc.  All Rights Reserved.</em></p>\n<p>Note that negative figures represent an excess of benefits received over taxes payable. Below, we take a look at what happens under the new rules with our three-child family. We note taxes payable are netted out with eligible refundable tax credits, and compare the results to the old rules.</p>\n<p><strong>Table 2: New Rules</strong></p>\n<table>\n<tbody>\n<tr>\n<td width=\"67\">Income</td>\n<td width=\"50\">Income Tax</td>\n<td width=\"35\">UCCB</td>\n<td width=\"43\">CCB</td>\n<td width=\"43\">GSTC</td>\n<td width=\"57\">Net Tax</td>\n<td width=\"47\">Effective Tax Rate</td>\n<td width=\"59\">Difference</td>\n<td width=\"29\">% Diff</td>\n<td width=\"46\">MTR</td>\n</tr>\n<tr>\n<td width=\"67\">$30,000</td>\n<td width=\"50\">$602</td>\n<td width=\"35\">$0</td>\n<td width=\"43\">$19,200</td>\n<td width=\"43\">$987</td>\n<td width=\"57\">$49,585</td>\n<td width=\"47\">-65%</td>\n<td width=\"59\">$4,648</td>\n<td width=\"29\">15%</td>\n<td width=\"46\">15%</td>\n</tr>\n<tr>\n<td width=\"67\">$40,000</td>\n<td width=\"50\">3,406</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$17,300</td>\n<td width=\"43\">652</td>\n<td width=\"57\">$54,546</td>\n<td width=\"47\">-36%</td>\n<td width=\"59\">$5,400</td>\n<td width=\"29\">14%</td>\n<td width=\"46\">43.15%</td>\n</tr>\n<tr>\n<td width=\"67\">$50,000</td>\n<td width=\"50\">6,030</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$15,400</td>\n<td width=\"43\">152</td>\n<td width=\"57\">$59,522</td>\n<td width=\"47\">-19%</td>\n<td width=\"59\">$5,326</td>\n<td width=\"29\">11%</td>\n<td width=\"46\">48.65%</td>\n</tr>\n<tr>\n<td width=\"67\">$60,000</td>\n<td width=\"50\">8,944</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$13,500</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$64,556</td>\n<td width=\"47\">-8%</td>\n<td width=\"59\">$3,976</td>\n<td width=\"29\">7%</td>\n<td width=\"46\">48.65%</td>\n</tr>\n<tr>\n<td width=\"67\">$70,000</td>\n<td width=\"50\">11,909</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$12,150</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$70,241</td>\n<td width=\"47\">0%</td>\n<td width=\"59\">$3,176</td>\n<td width=\"29\">5%</td>\n<td width=\"46\">37.15%</td>\n</tr>\n<tr>\n<td width=\"67\">$80,000</td>\n<td width=\"50\">15,028</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$11,350</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$76,322</td>\n<td width=\"47\">5%</td>\n<td width=\"59\">$2,926</td>\n<td width=\"29\">4%</td>\n<td width=\"46\">39.48%</td>\n</tr>\n<tr>\n<td width=\"67\">$90,000</td>\n<td width=\"50\">18,343</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$10,550</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$82,207</td>\n<td width=\"47\">9%</td>\n<td width=\"59\">$2,676</td>\n<td width=\"29\">3%</td>\n<td width=\"46\">45.91%</td>\n</tr>\n<tr>\n<td width=\"67\">$100,000</td>\n<td width=\"50\">22,588</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$9,750</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$87,162</td>\n<td width=\"47\">13%</td>\n<td width=\"59\">$2,285</td>\n<td width=\"29\">2%</td>\n<td width=\"46\">51.41%</td>\n</tr>\n<tr>\n<td width=\"67\">$110,000</td>\n<td width=\"50\">26,929</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$8,950</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$92,021</td>\n<td width=\"47\">16%</td>\n<td width=\"59\">$1,885</td>\n<td width=\"29\">2%</td>\n<td width=\"46\">51.41%</td>\n</tr>\n<tr>\n<td width=\"67\">$120,000</td>\n<td width=\"50\">31,370</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$8,150</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$96,780</td>\n<td width=\"47\">19%</td>\n<td width=\"59\">$1,384</td>\n<td width=\"29\">1%</td>\n<td width=\"46\">51.41%</td>\n</tr>\n<tr>\n<td width=\"67\">$130,000</td>\n<td width=\"50\">35,611</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$7,350</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$101,739</td>\n<td width=\"47\">22%</td>\n<td width=\"59\">$1,085</td>\n<td width=\"29\">1%</td>\n<td width=\"46\">51.41%</td>\n</tr>\n<tr>\n<td width=\"67\">$140,000</td>\n<td width=\"50\">39,952</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$6,550</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$106,598</td>\n<td width=\"47\">24%</td>\n<td width=\"59\">$685</td>\n<td width=\"29\">0%</td>\n<td width=\"46\">51.41%</td>\n</tr>\n<tr>\n<td width=\"67\">$150,000</td>\n<td width=\"50\">44,582</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$5,750</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$111,168</td>\n<td width=\"47\">26%</td>\n<td width=\"59\">$284</td>\n<td width=\"29\">0%</td>\n<td width=\"46\">55.97%</td>\n</tr>\n<tr>\n<td width=\"67\">$160,000</td>\n<td width=\"50\">49,379</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$4,950</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$115,571</td>\n<td width=\"47\">28%</td>\n<td width=\"59\">-$131</td>\n<td width=\"29\">0%</td>\n<td width=\"46\">55.97%</td>\n</tr>\n</tbody>\n</table>\n<p><em>©2016 Knowledge Bureau, Inc.  All Rights Reserved.</em></p>\n<p><strong>Conclusions:</strong></p>\n<ul>\n<li>Family net income can be as high as $70,000 before any net tax is paid (that is, taxes payable less refundable credits received)</li>\n<li>When this family’s income reaches $160,000 it is evident that the UCCB provided more money. In addition the family’s marginal tax rate is quite high, when the clawback of the CCB is taken into account</li>\n<li>However, while high income earners received more benefits under the UCCB regime, the Canada Child Benefit delivers at least some dollars to a broader number of high income families, as illustrated with the high income cut off chart below. In fact, marginal tax rates are over 50% for income levels exceed $100,000 when we take the clawbacks into account. That makes RRSP planning important for families. The deduction of the contribution will help to reduce family net income levels. Child care expense deductions and carry charges on investments are examples of two other deductions that reduce family net income</li>\n</ul>\n<h3>High Income Cut Offs for Canada Child Benefit</h3>\n<p>The following table shows the income level at which the CCB will be eliminated for various families. The full benefit is only received up to family net income of $30,000 but the benefit is available over a surprisingly large income range.</p>\n<table>\n<tbody>\n<tr>\n<td><strong>Ages of Children</strong></td>\n<td><strong>Income Cut-Off</strong></td>\n</tr>\n<tr>\n<td>1 child under 6</td>\n<td>$188,437</td>\n</tr>\n<tr>\n<td>1 child over 6</td>\n<td>$157,187</td>\n</tr>\n<tr>\n<td>2 children, both under 6</td>\n<td>$206,667</td>\n</tr>\n<tr>\n<td>2 children, one under 6</td>\n<td>$189,123</td>\n</tr>\n<tr>\n<td>2 children, both over 5</td>\n<td>$171,579</td>\n</tr>\n<tr>\n<td>3 children all under 6</td>\n<td>$221,875</td>\n</tr>\n<tr>\n<td>3 children, two under 6</td>\n<td>$209,375</td>\n</tr>\n<tr>\n<td>3 children, one under 6</td>\n<td>$196,875</td>\n</tr>\n<tr>\n<td>3 children, all over 5</td>\n<td>$184,375</td>\n</tr>\n<tr>\n<td>4 children, all under 6</td>\n<td>$249,737</td>\n</tr>\n<tr>\n<td>4 children, three under 6</td>\n<td>$239,211</td>\n</tr>\n<tr>\n<td>4 children, two under 6</td>\n<td>$228,684</td>\n</tr>\n<tr>\n<td>4 children, one under 6</td>\n<td>$218,158</td>\n</tr>\n<tr>\n<td>4 children, all over 5</td>\n<td>$207,631</td>\n</tr>\n</tbody>\n</table>\n<h3>Single Child Families</h3>\n<p>In the following scenarios, we take a look at the results under old and new rules that focus on the removal of the UCCB in favour of the CCB and the net results for families at $30,000, $60,000 and $120,000.  In this case, there is only one child.</p>\n<table>\n<tbody>\n<tr>\n<td rowspan=\"2\"><strong>Family </strong></p>\n<p><strong>Income</strong></td>\n<td rowspan=\"2\"><strong>One</strong></p>\n<p><strong>Child</strong></td>\n<td colspan=\"4\"><strong>Old Rules</strong></td>\n<td colspan=\"4\"><strong>New Rules</strong></td>\n<td><strong> </strong></td>\n</tr>\n<tr>\n<td><strong>Income Tax</strong></td>\n<td><strong>CTB</strong></td>\n<td><strong>UCCB</strong></td>\n<td><strong>Net</strong></td>\n<td><strong>Income Tax</strong></td>\n<td><strong>CCB</strong></td>\n<td><strong>UCCB</strong></td>\n<td><strong>Net</strong></td>\n<td><strong>Difference</strong></td>\n</tr>\n<tr>\n<td><strong>$30,000</strong></td>\n<td><strong>&lt;6</strong></td>\n<td>$1,466</td>\n<td>$3,354</td>\n<td>$1,920</td>\n<td>$33,808</td>\n<td>$602</td>\n<td>$6,400</td>\n<td>$   &#8211;</td>\n<td>$35,798</td>\n<td>$1,990</td>\n</tr>\n<tr>\n<td><strong>$30,000</strong></td>\n<td><strong>&gt;5</strong></td>\n<td>$1,466</td>\n<td>$3,354</td>\n<td>$720</td>\n<td>$32,608</td>\n<td>$602</td>\n<td>$5,400</td>\n<td>$   &#8211;</td>\n<td>$34,798</td>\n<td>$2,190</td>\n</tr>\n<tr>\n<td><strong> $60,000 </strong></td>\n<td><strong>&lt;6</strong></td>\n<td>$9,506</td>\n<td>$1,195</td>\n<td>$1,920</td>\n<td>$53,609</td>\n<td>$     8,944</td>\n<td>$   4,300</td>\n<td>$     &#8211;</td>\n<td>$   55,356</td>\n<td>$1,747</td>\n</tr>\n<tr>\n<td><strong> $60,000 </strong></td>\n<td><strong>&gt;5</strong></td>\n<td>$9,273</td>\n<td>$1,195</td>\n<td>$720</td>\n<td>$52,409</td>\n<td>$     8,944</td>\n<td>$   3,300</td>\n<td>$     &#8211;</td>\n<td>$ 54,356</td>\n<td>$1,947</td>\n</tr>\n<tr>\n<td><strong> $120,000 </strong></td>\n<td><strong>&lt;6</strong></td>\n<td>$32,322</td>\n<td>$0</td>\n<td>$1,920</td>\n<td>$89,598</td>\n<td>$ 31,270</td>\n<td>$ 2,190</td>\n<td>$     &#8211;</td>\n<td>$   90,920</td>\n<td>$1,322</td>\n</tr>\n<tr>\n<td><strong> $120,000 </strong></td>\n<td><strong>&gt;5</strong></td>\n<td>$32,058</td>\n<td>$0</td>\n<td>$720</td>\n<td>$88,398</td>\n<td>$ 31,270</td>\n<td>$   1,190</td>\n<td>$     &#8211;</td>\n<td>$   89,920</td>\n<td>$1,522</td>\n</tr>\n</tbody>\n</table>\n<p>Of note is the fact that single-child families are better off with one child under the new rules at either age and across large income ranges. And that’s certainly good news!</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/save/taxes/budget-winners-and-losers-child-benefit/\">The winners and losers of the Canada Child Benefit</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','The winners and losers of the Canada Child Benefit','<p>Our tax expert crunches the numbers </p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/save/taxes/budget-winners-and-losers-child-benefit/\">The winners and losers of the Canada Child Benefit</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','inherit','closed','closed','','1014-revision-v1','','','2016-03-23 06:15:57','2016-03-23 10:15:57','',1014,'http://feedwordpress.radgeek.com/?rev=316a827730693c9bf36d604468b0abb9',0,'revision','',0),(1233,1,'2016-03-22 19:38:52','2016-03-22 23:38:52','<p><a href=\"http://www.moneysense.ca/tag/budget-2016/\" rel=\"attachment wp-att-150316\"><img class=\"alignnone size-full wp-image-150316\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg\" alt=\"Budget 2016 banner V2\" width=\"885\" height=\"300\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-300x102.jpg 300w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-768x260.jpg 768w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-660x224.jpg 660w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg 885w\" sizes=\"(max-width: 885px) 100vw, 885px\" /></a></p>\n<div itemscope=\"itemscope\" itemtype=\"http://schema.org/VideoObject\">\n\n        <meta itemprop=\"duration\" content=\"PT17M48S\" />\n        <meta itemprop=\"description\" content=\"\" />\n    \n    <div style=\"display: none;\"></div>\n\n    <script type=\"text/javascript\" src=\"http://admin.brightcove.com/js/BrightcoveExperiences.js\"></script>\n    <script type=\"text/javascript\" src=\"http://admin.brightcove.com/js/api/SmartPlayerAPI.js\"></script>\n\n    <object id=\"myExperience4812788644001\" class=\"BrightcoveExperience\">\n        <param name=\"bgcolor\" value=\"#FFFFFF\" />\n        <param name=\"width\" value=\"640\" />\n        <param name=\"height\" value=\"360\" />\n        <param name=\"playerID\" value=\"2659807263001\" />\n        <param name=\"playerKey\" value=\"AQ~~,AAAAAyz2WOE~,aVUQ6mHrguBSAk3aprArcQ8EfouzY6bY\" />\n        <param name=\"isVid\" value=\"true\" />\n        <param name=\"isUI\" value=\"true\" />\n        <param name=\"dynamicStreaming\" value=\"true\" />\n        <param name=\"includeAPI\" value=\"true\" />\n        <param name=\"templateLoadHandler\" value=\"onTemplateLoad\" />\n        <param name=\"templateReadyHandler\" value=\"onTemplateReady\" />\n        <param name=\"@videoPlayer\" value=\"4812788644001\" />\n                <param name=\"adServerURL\" value=\"http://pubads.g.doubleclick.net/gampad/ads?sz=640x360&amp;iu=%2F7326%2Frogers.publishing%2Fmoneysense.CPGBusiness%2Fvideos&amp;ciu_szs=728x90%2C300x250&amp;impl=s&amp;gdfp_req=1&amp;env=vp&amp;output=xml_vast2&amp;ad_rule=1&amp;unviewed_position_start=1&amp;cmsid=1464\" />\n                <param name=\"linkBaseURL\" value=\"http://www.moneysense.ca/news/3-ways-the-federal-budget-will-affect-investors/\" />\n        <param name=\"autoStart\" value=\"false\" />\n        <param name=\"wmode\" value=\"transparent\" />\n    </object>\n\n</div>\n\n<script type=\"text/javascript\">\n    brightcove.createExperiences();\n</script>\n\n<p>For the first time in Canadian history, there are more seniors over the age of 65 than there are children under the age of 15. What this means is that, over time, there will be fewer Canadians working to support the overall population. Seniors issues are only going to grow in importance.</p>\n<p>With that in mind, let&#8217;s dig into what happened in this budget related to seniors. Some of it we already knew, some of it adds up to real change and some omissions are worth noting.</p>\n<h3><strong>The OAS reversal</strong></h3>\n<p>As already announced, the eligibility ages of the Old Age Security program will be restored. Budget 2016 proposes to cancel the provisions in the Old Age Security Act that would have increased the age of eligibility for OAS and Guaranteed Income Supplement benefits from 65 to 67 and Allowance benefits from 60 to 62 over the 2023 to 2029 period.</p>\n<p>Restoring the eligibility age for OAS and GIS benefits to 65 will put thousands of dollars back in the pockets of Canadians as they become seniors. These benefits are an important part of the retirement income of Canadians, particularly for lower-income seniors.</p>\n<p>Vulnerable seniors depend on this support, and without it, face a much higher risk of living in poverty.</p>\n<p>This announcement by the government is basically undoing something that wasn’t due to happen until 2023. The former government put it in place and the current government took it away. Aside from adding some bureaucratic paperwork, no one was impacted by this, although it was certainly hanging over the heads of investors and their planners. Most of them will be thrilled by this reversal, even if they have to amend their financial plans to reflect this.</p>\n<h3><strong>Guaranteed Income Supplement</strong></h3>\n<p>In Canada, the retirement income system has been successful in reducing the incidence of poverty among Canadian seniors due mainly to Canada Pension Plan (CPP) and OAS. However, of those who do struggle to make ends meet in retirement, single seniors are hardest hit. They are nearly three times more likely to live in low income than seniors generally. For that reason, the federal budget offers an increase to the GIS.</p>\n<p>The federal budget promises to top up this monthly non-taxable benefit for low-income OAS recipients, by up to $947 annually, improving the financial security of about 900,000 seniors across Canada. It doubles the current maximum GIS top-up and represents a 10% increase in the total GIS benefits available to the lowest-income single seniors. A few other key facts about the supplement increase:</p>\n<ul>\n<li>It represents an investment of over $670 million per year</li>\n<li>The graduated benefits are based on income threshold of $4,600</li>\n<li>The benefits will be phased out at income of $8,400 or more</li>\n<li>Going forward, they will be calculated based on individual (not combined) incomes</li>\n</ul>\n<p>That last point is especially meaningful to senior couples who have to live apart for reasons beyond their control and who will see an even greater increase in their GIS benefits. This enhancement will help to defer the higher costs of living of maintaining two residences and reduce the risk of increased poverty.</p>\n<p>This proposed increase supports those seniors who rely almost exclusively on OAS and GIS benefits and may therefore be at risk of experiencing financial difficulties. It allows low-income single seniors more freedom of choice with their finances, while knowing they will receive a guaranteed monthly benefit that will increase with inflation over time.</p>\n<p>However, Statistics Canada has indicated that the Low Income Measure (LIM) for a single senior is $22,000 per year so there is still more work to be done on this in order to bring these 900,000 low income seniors to a reasonable, liveable income.</p>\n<p>Here are a few scenarios that illustrate the impact of the changes:</p>\n<ul>\n<li><em>Lynn is a 74-year-old resident of Montréal, Quebec, who lives alone. With no income apart from OAS and GIS benefits, she struggles to make ends meet. The increase in the GIS top-up benefit for single seniors proposed in Budget 2016 will provide Lynn with an additional $947 per year.</em></li>\n</ul>\n<ul>\n<li><em>Charles is a 68-year-old widower residing in Edmonton, Alberta. Charles receives annual CPP benefits of $5,000 along with OAS and GIS benefits. The increase in the GIS top-up benefit for single seniors proposed in Budget 2016 will provide Charles with an additional $848 per year.  </em></li>\n</ul>\n<ul>\n<li><em>Heather and David have been married for 40 years. David, age 77, receives annual CPP benefits of $3,000 and OAS and GIS bene</em><em>fits of over $12,500. Heather, age 62, has annual earnings from her part-time job of $6,000 and receives over $5,800 </em><em>in Allowance benefits. Taken together, the OAS program provides Heather and David with over $18,300 in annual income support. </em><em>David requires long-term care and Heather and David must live apart. Budget 2016 proposes to allow David and Heather to receive their GIS</em><em> and Allowance benefits based on their individual incomes, recognizing the higher costs of living that Heather and David would face </em><em>living apart. As a result of the proposed change, David would receive over $14,300 in OAS and GIS benefits. Heather would receive about $8,300 in Allowance benefits. Taken together, the OAS</em><em> program would provide annual income support of about $22,600, an increase of more than $4,000 from current levels.</em></li>\n</ul>\n<h3><strong>Affordable housing for seniors</strong></h3>\n<p>Canada’s senior population is growing, and many seniors now find it difficult to afford housing that is suitable, or that allows them to easily stay in their homes as long as possible.</p>\n<p>Budget 2016 proposes to provide $200.7 million over two years, starting in 2016–17, to support the construction, repair and adaption of affordable housing for seniors. While funding will be provided under the Investment in Affordable Housing initiative, provinces and territories will not be required to cost-match these investments. This investment is expected to help improve housing conditions for more than 5,000 low-income senior households.</p>\n<p>This initiative helps seniors to age at home which is exactly what the majority of seniors prefer but with many seniors still living in the own homes, this program will need to be more fulsome and last longer than two years to offset the impending lack of affordable and accessible housing for this demographic. The provinces and territories will need to step up with their investments to augment this new federal funding.</p>\n<p>Seniors will also be interested to know that there are commitments to improve client services at the Canada Revenue Agency. The CRA will reduce their telephone wait times, new and more easily understood correspondence, and more liaison with local volunteer groups that provide help to low income Canadians with their tax returns.  This is a welcome announcement from the CRA.</p>\n<h3><strong>What’s missing from the budget?</strong></h3>\n<p>Seniors’ groups have been asking for a national pharmacare program to ensure cross-Canada price equity and availability, extended compassionate leave and a national caregivers program, as well as a national home care strategy to allow seniors to age with dignity in their homes. So, while we&#8217;re a little further down the path–there is more room to go.</p>\n<hr />\n<p><a href=\"http://www.moneysenseapproved.com/findanadvisor/\"><img class=\"alignleft wp-image-118650\" src=\"http://www.moneysense.ca/wp-content/uploads/2015/05/Screen-Shot-2015-04-30-at-4.48.05-PM.png\" alt=\"MoneySense Approved\" width=\"250\" height=\"178\" /></a><a href=\"http://www.moneysenseapproved.com/findanadvisor/\">Find the advisor who&#8217;s right for you</a></p>\n<p>Let us match you with a trusted financial advisor who has the skills, training and approach to money &amp; investing that you need.</p>\n<p><a href=\"http://www.moneysenseapproved.com/findanadvisor/\">Try our search tool now!</a></p>\n<hr />\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/save/retirement/what-the-federal-budget-means-for-seniors/\">What the budget means for seniors</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','What the budget means for seniors','<p>A closer look at changes to OAS, GIS and spending on seniors housing</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/save/retirement/what-the-federal-budget-means-for-seniors/\">What the budget means for seniors</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','inherit','closed','closed','','1038-revision-v1','','','2016-03-22 19:38:52','2016-03-22 23:38:52','',1038,'http://feedwordpress.radgeek.com/?rev=fd98a8b0ef283e4d0cd1abfa478c482d',0,'revision','',0),(1234,1,'2016-03-22 19:38:52','2016-03-22 23:38:52','<p><a href=\"http://www.moneysense.ca/tag/budget-2016/\" rel=\"attachment wp-att-150316\"><img class=\"alignnone size-full wp-image-150316\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg\" alt=\"Budget 2016 banner V2\" width=\"885\" height=\"300\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-300x102.jpg 300w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-768x260.jpg 768w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-660x224.jpg 660w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg 885w\" sizes=\"(max-width: 885px) 100vw, 885px\" /></a></p>\n<div itemscope=\"itemscope\" itemtype=\"http://schema.org/VideoObject\">\n\n        <meta itemprop=\"duration\" content=\"PT17M48S\" />\n        <meta itemprop=\"description\" content=\"\" />\n    \n    <div style=\"display: none;\"></div>\n\n    <script type=\"text/javascript\" src=\"http://admin.brightcove.com/js/BrightcoveExperiences.js\"></script>\n    <script type=\"text/javascript\" src=\"http://admin.brightcove.com/js/api/SmartPlayerAPI.js\"></script>\n\n    <object id=\"myExperience4812788644001\" class=\"BrightcoveExperience\">\n        <param name=\"bgcolor\" value=\"#FFFFFF\" />\n        <param name=\"width\" value=\"640\" />\n        <param name=\"height\" value=\"360\" />\n        <param name=\"playerID\" value=\"2659807263001\" />\n        <param name=\"playerKey\" value=\"AQ~~,AAAAAyz2WOE~,aVUQ6mHrguBSAk3aprArcQ8EfouzY6bY\" />\n        <param name=\"isVid\" value=\"true\" />\n        <param name=\"isUI\" value=\"true\" />\n        <param name=\"dynamicStreaming\" value=\"true\" />\n        <param name=\"includeAPI\" value=\"true\" />\n        <param name=\"templateLoadHandler\" value=\"onTemplateLoad\" />\n        <param name=\"templateReadyHandler\" value=\"onTemplateReady\" />\n        <param name=\"@videoPlayer\" value=\"4812788644001\" />\n                <param name=\"adServerURL\" value=\"http://pubads.g.doubleclick.net/gampad/ads?sz=640x360&amp;iu=%2F7326%2Frogers.publishing%2Fmoneysense.CPGBusiness%2Fvideos&amp;ciu_szs=728x90%2C300x250&amp;impl=s&amp;gdfp_req=1&amp;env=vp&amp;output=xml_vast2&amp;ad_rule=1&amp;unviewed_position_start=1&amp;cmsid=1464\" />\n                <param name=\"linkBaseURL\" value=\"http://www.moneysense.ca/news/3-ways-the-federal-budget-will-affect-investors/\" />\n        <param name=\"autoStart\" value=\"false\" />\n        <param name=\"wmode\" value=\"transparent\" />\n    </object>\n\n</div>\n\n<script type=\"text/javascript\">\n    brightcove.createExperiences();\n</script>\n\n<p>For the first time in Canadian history, there are more seniors over the age of 65 than there are children under the age of 15. What this means is that, over time, there will be fewer Canadians working to support the overall population. Seniors issues are only going to grow in importance.</p>\n<p>With that in mind, let&#8217;s dig into what happened in this budget related to seniors. Some of it we already knew, some of it adds up to real change and some omissions are worth noting.</p>\n<h3><strong>The OAS reversal</strong></h3>\n<p>As already announced, the eligibility ages of the Old Age Security program will be restored. Budget 2016 proposes to cancel the provisions in the Old Age Security Act that would have increased the age of eligibility for OAS and Guaranteed Income Supplement benefits from 65 to 67 and Allowance benefits from 60 to 62 over the 2023 to 2029 period.</p>\n<p>Restoring the eligibility age for OAS and GIS benefits to 65 will put thousands of dollars back in the pockets of Canadians as they become seniors. These benefits are an important part of the retirement income of Canadians, particularly for lower-income seniors.</p>\n<p>Vulnerable seniors depend on this support, and without it, face a much higher risk of living in poverty.</p>\n<p>This announcement by the government is basically undoing something that wasn’t due to happen until 2023. The former government put it in place and the current government took it away. Aside from adding some bureaucratic paperwork, no one was impacted by this, although it was certainly hanging over the heads of investors and their planners. Most of them will be thrilled by this reversal, even if they have to amend their financial plans to reflect this.</p>\n<h3><strong>Guaranteed Income Supplement</strong></h3>\n<p>In Canada, the retirement income system has been successful in reducing the incidence of poverty among Canadian seniors due mainly to Canada Pension Plan (CPP) and OAS. However, of those who do struggle to make ends meet in retirement, single seniors are hardest hit. They are nearly three times more likely to live in low income than seniors generally. For that reason, the federal budget offers an increase to the GIS.</p>\n<p>The federal budget promises to top up this monthly non-taxable benefit for low-income OAS recipients, by up to $947 annually, improving the financial security of about 900,000 seniors across Canada. It doubles the current maximum GIS top-up and represents a 10% increase in the total GIS benefits available to the lowest-income single seniors. A few other key facts about the supplement increase:</p>\n<ul>\n<li>It represents an investment of over $670 million per year</li>\n<li>The graduated benefits are based on income threshold of $4,600</li>\n<li>The benefits will be phased out at income of $8,400 or more</li>\n<li>Going forward, they will be calculated based on individual (not combined) incomes</li>\n</ul>\n<p>That last point is especially meaningful to senior couples who have to live apart for reasons beyond their control and who will see an even greater increase in their GIS benefits. This enhancement will help to defer the higher costs of living of maintaining two residences and reduce the risk of increased poverty.</p>\n<p>This proposed increase supports those seniors who rely almost exclusively on OAS and GIS benefits and may therefore be at risk of experiencing financial difficulties. It allows low-income single seniors more freedom of choice with their finances, while knowing they will receive a guaranteed monthly benefit that will increase with inflation over time.</p>\n<p>However, Statistics Canada has indicated that the Low Income Measure (LIM) for a single senior is $22,000 per year so there is still more work to be done on this in order to bring these 900,000 low income seniors to a reasonable, liveable income.</p>\n<p>Here are a few scenarios that illustrate the impact of the changes:</p>\n<ul>\n<li><em>Lynn is a 74-year-old resident of Montréal, Quebec, who lives alone. With no income apart from OAS and GIS benefits, she struggles to make ends meet. The increase in the GIS top-up benefit for single seniors proposed in Budget 2016 will provide Lynn with an additional $947 per year.</em></li>\n</ul>\n<ul>\n<li><em>Charles is a 68-year-old widower residing in Edmonton, Alberta. Charles receives annual CPP benefits of $5,000 along with OAS and GIS benefits. The increase in the GIS top-up benefit for single seniors proposed in Budget 2016 will provide Charles with an additional $848 per year.  </em></li>\n</ul>\n<ul>\n<li><em>Heather and David have been married for 40 years. David, age 77, receives annual CPP benefits of $3,000 and OAS and GIS bene</em><em>fits of over $12,500. Heather, age 62, has annual earnings from her part-time job of $6,000 and receives over $5,800 </em><em>in Allowance benefits. Taken together, the OAS program provides Heather and David with over $18,300 in annual income support. </em><em>David requires long-term care and Heather and David must live apart. Budget 2016 proposes to allow David and Heather to receive their GIS</em><em> and Allowance benefits based on their individual incomes, recognizing the higher costs of living that Heather and David would face </em><em>living apart. As a result of the proposed change, David would receive over $14,300 in OAS and GIS benefits. Heather would receive about $8,300 in Allowance benefits. Taken together, the OAS</em><em> program would provide annual income support of about $22,600, an increase of more than $4,000 from current levels.</em></li>\n</ul>\n<h3><strong>Affordable housing for seniors</strong></h3>\n<p>Canada’s senior population is growing, and many seniors now find it difficult to afford housing that is suitable, or that allows them to easily stay in their homes as long as possible.</p>\n<p>Budget 2016 proposes to provide $200.7 million over two years, starting in 2016–17, to support the construction, repair and adaption of affordable housing for seniors. While funding will be provided under the Investment in Affordable Housing initiative, provinces and territories will not be required to cost-match these investments. This investment is expected to help improve housing conditions for more than 5,000 low-income senior households.</p>\n<p>This initiative helps seniors to age at home which is exactly what the majority of seniors prefer but with many seniors still living in the own homes, this program will need to be more fulsome and last longer than two years to offset the impending lack of affordable and accessible housing for this demographic. The provinces and territories will need to step up with their investments to augment this new federal funding.</p>\n<p>Seniors will also be interested to know that there are commitments to improve client services at the Canada Revenue Agency. The CRA will reduce their telephone wait times, new and more easily understood correspondence, and more liaison with local volunteer groups that provide help to low income Canadians with their tax returns.  This is a welcome announcement from the CRA.</p>\n<h3><strong>What’s missing from the budget?</strong></h3>\n<p>Seniors’ groups have been asking for a national pharmacare program to ensure cross-Canada price equity and availability, extended compassionate leave and a national caregivers program, as well as a national home care strategy to allow seniors to age with dignity in their homes. So, while we&#8217;re a little further down the path–there is more room to go.</p>\n<hr />\n<p><a href=\"http://www.moneysenseapproved.com/findanadvisor/\"><img class=\"alignleft wp-image-118650\" src=\"http://www.moneysense.ca/wp-content/uploads/2015/05/Screen-Shot-2015-04-30-at-4.48.05-PM.png\" alt=\"MoneySense Approved\" width=\"250\" height=\"178\" /></a><a href=\"http://www.moneysenseapproved.com/findanadvisor/\">Find the advisor who&#8217;s right for you</a></p>\n<p>Let us match you with a trusted financial advisor who has the skills, training and approach to money &amp; investing that you need.</p>\n<p><a href=\"http://www.moneysenseapproved.com/findanadvisor/\">Try our search tool now!</a></p>\n<hr />\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/save/retirement/what-the-federal-budget-means-for-seniors/\">What the budget means for seniors</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','What the budget means for seniors','<p>A closer look at changes to OAS, GIS and spending on seniors housing</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/save/retirement/what-the-federal-budget-means-for-seniors/\">What the budget means for seniors</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','inherit','closed','closed','','1038-revision-v1','','','2016-03-22 19:38:52','2016-03-22 23:38:52','',1038,'http://feedwordpress.radgeek.com/?rev=fd98a8b0ef283e4d0cd1abfa478c482d',0,'revision','',0),(1235,1,'2016-03-22 17:42:53','2016-03-22 21:42:53','<p><a href=\"http://www.moneysense.ca/tag/budget-2016/\" rel=\"attachment wp-att-150316\"><img class=\"alignnone size-full wp-image-150316\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg\" alt=\"Budget 2016 banner V2\" width=\"885\" height=\"300\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-300x102.jpg 300w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-768x260.jpg 768w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-660x224.jpg 660w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg 885w\" sizes=\"(max-width: 885px) 100vw, 885px\" /></a></p>\n<p>When Finance Minister Bill Morneau tabled the Liberals&#8217; maiden budget Tuesday, we saw a commitment to the process of tax simplification. As promised, the Liberals made changes to the federal income tax brackets. Starting in 2016, the middle class income tax bracket will drop from 22% to 20.5%. That means if your taxable income is between $45,282 and $90,563, you&#8217;ll pay less tax. However, those earning more than $200,000 a year can expect to pay more income tax, with the introduction of a new 33% tax bracket.</p>\n<p>Those counting on a boost to their income from stock options and were concerned about possible changes and caps on stock option gains need not worry. Even though a cap of $100,000 on this favourable tax treatment was anticipated, no changes were made. At present, investors and employees are taxed on 50% of the gains of stock options.</p>\n<p>&nbsp;</p>\n<p>&nbsp;</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/news/how-the-federal-budget-will-affect-income-tax/\">How the federal budget will affect income tax</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','How the federal budget will affect income tax','<p>New tax brackets are announced with the lower middle-income tax bracket being reduced from 22% to 20.5%</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/news/how-the-federal-budget-will-affect-income-tax/\">How the federal budget will affect income tax</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','inherit','closed','closed','','1020-revision-v1','','','2016-03-22 17:42:53','2016-03-22 21:42:53','',1020,'http://feedwordpress.radgeek.com/?rev=e1d64433ae7887041e7824f7023786aa',0,'revision','',0),(1236,1,'2016-03-22 17:42:53','2016-03-22 21:42:53','<p><a href=\"http://www.moneysense.ca/tag/budget-2016/\" rel=\"attachment wp-att-150316\"><img class=\"alignnone size-full wp-image-150316\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg\" alt=\"Budget 2016 banner V2\" width=\"885\" height=\"300\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-300x102.jpg 300w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-768x260.jpg 768w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-660x224.jpg 660w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg 885w\" sizes=\"(max-width: 885px) 100vw, 885px\" /></a></p>\n<p>When Finance Minister Bill Morneau tabled the Liberals&#8217; maiden budget Tuesday, we saw a commitment to the process of tax simplification. As promised, the Liberals made changes to the federal income tax brackets. Starting in 2016, the middle class income tax bracket will drop from 22% to 20.5%. That means if your taxable income is between $45,282 and $90,563, you&#8217;ll pay less tax. However, those earning more than $200,000 a year can expect to pay more income tax, with the introduction of a new 33% tax bracket.</p>\n<p>Those counting on a boost to their income from stock options and were concerned about possible changes and caps on stock option gains need not worry. Even though a cap of $100,000 on this favourable tax treatment was anticipated, no changes were made. At present, investors and employees are taxed on 50% of the gains of stock options.</p>\n<p>&nbsp;</p>\n<p>&nbsp;</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/news/how-the-federal-budget-will-affect-income-tax/\">How the federal budget will affect income tax</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','How the federal budget will affect income tax','<p>New tax brackets are announced with the lower middle-income tax bracket being reduced from 22% to 20.5%</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/news/how-the-federal-budget-will-affect-income-tax/\">How the federal budget will affect income tax</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','inherit','closed','closed','','1020-revision-v1','','','2016-03-22 17:42:53','2016-03-22 21:42:53','',1020,'http://feedwordpress.radgeek.com/?rev=e1d64433ae7887041e7824f7023786aa',0,'revision','',0),(1237,1,'2016-02-18 08:09:52','2016-02-18 08:09:52','Like Us on Facebook! https://www.facebook.com/pages/Camerons-Car-Reviews/349462695066112?ref=hl \nFollow Us on Instagram: cameronscarreviews \nSnapchat: camscarreviews \nCamerons Car Reviews Score: 4/5 \nPowertrain Options: 3.5 L V6 with a CVT Automatic FWD or AWD \nEngine &amp; Performance\nBASE ENGINE SIZE 3.5 L CAM TYPE Double overhead cam (DOHC)\nCYLINDERS V6 \nVALVES 24\nVALVE TIMING Variable \nTORQUE 240 ft-lbs. @ 4400 rpm\nHORSEPOWER 260 hp @ 6400 rpm \nWarranty\nBASIC 3 yr./ 36000 mi. \nDRIVETRAIN 5 yr./ 60000 mi.\nROADSIDE 3 yr./ 36000 mi. \nFuel\nENGINE TYPE Gas \nFUEL TYPE Regular unleaded\nEPA MILEAGE EST. (CTY/HWY) 20/27 mpg\nCompetitors: Ford Explorer, Chevrolet Traverse, Honda Pilot, Toyota Highlander','2016 Nissan Pathfinder Platinum 3.5 L V6 Review | Camerons Car Reviews','','publish','open','open','','2016-nissan-pathfinder-platinum-3-5-l-v6-review-camerons-car-reviews','','','2016-02-18 08:09:52','2016-02-18 08:09:52','',0,'http://www.l2ocredit.com/2016/02/18/2016-nissan-pathfinder-platinum-3-5-l-v6-review-camerons-car-reviews/',0,'post','',0),(1238,0,'2016-03-23 10:51:58','2016-03-23 14:51:58','','2016 Nissan Pathfinder Platinum 3.5 L V6 Review | Camerons Car Reviews','','inherit','open','closed','','2016-nissan-pathfinder-platinum-3-5-l-v6-review-camerons-car-reviews-2','','','2016-03-23 10:51:58','2016-03-23 14:51:58','',1237,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-nissan-pathfinder-platinum-3-5-l-v6-review-camerons-car-reviews-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(1239,0,'2016-03-23 10:51:58','2016-03-23 14:51:58','','2016 Nissan Pathfinder Platinum 3.5 L V6 Review | Camerons Car Reviews','','inherit','open','closed','','2016-nissan-pathfinder-platinum-3-5-l-v6-review-camerons-car-reviews-2','','','2016-03-23 10:51:58','2016-03-23 14:51:58','',1237,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-nissan-pathfinder-platinum-3-5-l-v6-review-camerons-car-reviews-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(1240,0,'2016-03-23 10:51:58','2016-03-23 14:51:58','','2016 Nissan Pathfinder Platinum 3.5 L V6 Review | Camerons Car Reviews','','inherit','open','closed','','2016-nissan-pathfinder-platinum-3-5-l-v6-review-camerons-car-reviews-3','','','2016-03-23 10:51:58','2016-03-23 14:51:58','',1237,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-nissan-pathfinder-platinum-3-5-l-v6-review-camerons-car-reviews-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(1241,0,'2016-03-23 10:52:00','2016-03-23 14:52:00','','2016 Nissan Pathfinder Platinum 3.5 L V6 Review | Camerons Car Reviews','','inherit','open','closed','','2016-nissan-pathfinder-platinum-3-5-l-v6-review-camerons-car-reviews-4','','','2016-03-23 10:52:00','2016-03-23 14:52:00','',1237,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-nissan-pathfinder-platinum-3-5-l-v6-review-camerons-car-reviews-youtube-thumbnail-2.jpg',0,'attachment','image/jpeg',0),(1242,1,'2016-02-13 22:37:20','2016-02-13 22:37:20','KBB\'s coverage of the 2017 Ram Power Wagon at the 2016 Chicago Auto Show. \n\nKelley Blue Book is your source for new car reviews, auto show coverage, features, comparison tests, and technology reviews. Subscribe to catch all the latest Kelley Blue Book videos. http://www.youtube.com/subscription_center?add_user=kbb','2017 Ram Power Wagon - 2016 Chicago Auto Show','','publish','open','open','','2017-ram-power-wagon-2016-chicago-auto-show','','','2016-02-13 22:37:20','2016-02-13 22:37:20','',0,'http://www.l2ocredit.com/2016/02/13/2017-ram-power-wagon-2016-chicago-auto-show/',0,'post','',0),(1243,0,'2016-03-23 11:10:26','2016-03-23 15:10:26','','2017 Ram Power Wagon &#8211; 2016 Chicago Auto Show','','inherit','open','closed','','2017-ram-power-wagon-2016-chicago-auto-show-2','','','2016-03-23 11:10:26','2016-03-23 15:10:26','',1242,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2017-ram-power-wagon-2016-chicago-auto-show-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(1244,0,'2016-03-23 11:10:26','2016-03-23 15:10:26','','2017 Ram Power Wagon &#8211; 2016 Chicago Auto Show','','inherit','open','closed','','2017-ram-power-wagon-2016-chicago-auto-show-2','','','2016-03-23 11:10:26','2016-03-23 15:10:26','',1242,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2017-ram-power-wagon-2016-chicago-auto-show-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(1245,0,'2016-03-23 11:10:27','2016-03-23 15:10:27','','2017 Ram Power Wagon &#8211; 2016 Chicago Auto Show','','inherit','open','closed','','2017-ram-power-wagon-2016-chicago-auto-show-3','','','2016-03-23 11:10:27','2016-03-23 15:10:27','',1242,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2017-ram-power-wagon-2016-chicago-auto-show-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(1246,1,'2016-03-02 07:30:33','2016-03-02 07:30:33','The 2017 Aston Martin DB11 made its official debut at the Geneva Motor Show sporting a swanky new look that brings the British automaker into a new era. http://www.autoguide.com/auto-news/2016/03/aston-martin-db11.html\n\nFull story: http://www.autoguide.com/auto-news/2016/03/aston-martin-db11.html\n\nSubscribe\nhttp://www.youtube.com/subscription_center?add_user=AutoGuideVideo\n\nYouTube - http://www.youtube.com/user/AutoguideVideo\nFacebook - http://facebook.com/AutoGuide\nTwitter - http://twitter.com/AutoGuide\nGoogle+ - http://goo.gl/LBxsP\nWeb - http://www.AutoGuide.com\n\nAutoGuide reviews the latest new cars with test drives, car comparisons and shootouts plus coverage of breaking auto industry news, auto shows, rumors and spy photos. Help shop for your new car with informative car buying tips and car recall news, and be entertained with feature stories, Top 10s and car review videos.','2017 Aston Martin DB11 First Look - 2016 Geneva Motor Show','','publish','open','open','','2017-aston-martin-db11-first-look-2016-geneva-motor-show','','','2016-03-02 07:30:33','2016-03-02 07:30:33','',0,'http://www.l2ocredit.com/2016/03/02/2017-aston-martin-db11-first-look-2016-geneva-motor-show/',0,'post','',0),(1247,0,'2016-03-23 11:44:16','2016-03-23 15:44:16','','2017 Aston Martin DB11 First Look &#8211; 2016 Geneva Motor Show','','inherit','open','closed','','2017-aston-martin-db11-first-look-2016-geneva-motor-show-2','','','2016-03-23 11:44:16','2016-03-23 15:44:16','',1246,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2017-aston-martin-db11-first-look-2016-geneva-motor-show-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(1248,0,'2016-03-23 11:44:17','2016-03-23 15:44:17','','2017 Aston Martin DB11 First Look &#8211; 2016 Geneva Motor Show','','inherit','open','closed','','2017-aston-martin-db11-first-look-2016-geneva-motor-show-3','','','2016-03-23 11:44:17','2016-03-23 15:44:17','',1246,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2017-aston-martin-db11-first-look-2016-geneva-motor-show-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(1249,0,'2016-03-23 11:44:17','2016-03-23 15:44:17','','2017 Aston Martin DB11 First Look &#8211; 2016 Geneva Motor Show','','inherit','open','closed','','2017-aston-martin-db11-first-look-2016-geneva-motor-show-4','','','2016-03-23 11:44:17','2016-03-23 15:44:17','',1246,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2017-aston-martin-db11-first-look-2016-geneva-motor-show-youtube-thumbnail-2.jpg',0,'attachment','image/jpeg',0),(1250,0,'2016-03-23 11:44:18','2016-03-23 15:44:18','','2017 Aston Martin DB11 First Look &#8211; 2016 Geneva Motor Show','','inherit','open','closed','','2017-aston-martin-db11-first-look-2016-geneva-motor-show-5','','','2016-03-23 11:44:18','2016-03-23 15:44:18','',1246,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2017-aston-martin-db11-first-look-2016-geneva-motor-show-youtube-thumbnail-3.jpg',0,'attachment','image/jpeg',0),(1251,1,'2016-03-23 12:00:15','2016-03-23 16:00:15','<p><a href=\"http://www.moneysense.ca/tag/budget-2016/\" rel=\"attachment wp-att-150316\"><img src=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg\" alt=\"Budget 2016 banner V2\" width=\"885\" height=\"300\" class=\"alignnone size-full wp-image-150316\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-300x102.jpg 300w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-768x260.jpg 768w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-660x224.jpg 660w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg 885w\" sizes=\"(max-width: 885px) 100vw, 885px\" /></a><br />\nExperts from <a href=\"http://www.macleans.ca/federal-budget-2016/\" ><em>Maclean&#8217;s</em></a> magazine and our very own <a href=\"http://www.moneysense.ca/tag/budget-2016/\" ><em>MoneySense</em></a> personal finance gurus are here to answer all your federal budget questions. Leave your questions below when the live chat starts at 1 p.m. EST or get ahead by tweeting your query using the hashtag #BudgetChat.   </p>\n<p><iframe src=\"http://embed.scribblelive.com/Embed/v7.aspx?Id=1968095&#038;ThemeId=27634\" width=\"100%\" height=\"1200\" frameborder=\"0\"></iframe></p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/news/live-chat-your-federal-budget-questions-answered/\">Live Chat: Your federal budget questions answered</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','Live Chat: Your federal budget questions answered','<p>Tune in at 1 p.m. EST for our expert Q&amp;A on how the budget affects you</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/news/live-chat-your-federal-budget-questions-answered/\">Live Chat: Your federal budget questions answered</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','pending','closed','closed','','','','','2016-03-23 12:00:15','2016-03-23 16:00:15','',0,'http://www.moneysense.ca/?p=150770',0,'post','',0),(1252,1,'2016-03-23 12:00:15','2016-03-23 16:00:15','<p><a href=\"http://www.moneysense.ca/tag/budget-2016/\" rel=\"attachment wp-att-150316\"><img src=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg\" alt=\"Budget 2016 banner V2\" width=\"885\" height=\"300\" class=\"alignnone size-full wp-image-150316\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-300x102.jpg 300w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-768x260.jpg 768w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-660x224.jpg 660w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg 885w\" sizes=\"(max-width: 885px) 100vw, 885px\" /></a><br />\nExperts from <a href=\"http://www.macleans.ca/federal-budget-2016/\" ><em>Maclean&#8217;s</em></a> magazine and our very own <a href=\"http://www.moneysense.ca/tag/budget-2016/\" ><em>MoneySense</em></a> personal finance gurus are here to answer all your federal budget questions. Leave your questions below when the live chat starts at 1 p.m. EST or get ahead by tweeting your query using the hashtag #BudgetChat.   </p>\n<p><iframe src=\"http://embed.scribblelive.com/Embed/v7.aspx?Id=1968095&#038;ThemeId=27634\" width=\"100%\" height=\"1200\" frameborder=\"0\"></iframe></p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/news/live-chat-your-federal-budget-questions-answered/\">Live Chat: Your federal budget questions answered</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','Live Chat: Your federal budget questions answered','<p>Tune in at 1 p.m. EST for our expert Q&amp;A on how the budget affects you</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/news/live-chat-your-federal-budget-questions-answered/\">Live Chat: Your federal budget questions answered</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','inherit','closed','closed','','1251-revision-v1','','','2016-03-23 12:00:15','2016-03-23 16:00:15','',1251,'http://feedwordpress.radgeek.com/?rev=ddd7c45b7e8b28467ee11d344e0d6527',0,'revision','',0),(1253,1,'2016-03-23 12:00:15','2016-03-23 16:00:15','<p><a href=\"http://www.moneysense.ca/tag/budget-2016/\" rel=\"attachment wp-att-150316\"><img src=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg\" alt=\"Budget 2016 banner V2\" width=\"885\" height=\"300\" class=\"alignnone size-full wp-image-150316\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-300x102.jpg 300w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-768x260.jpg 768w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-660x224.jpg 660w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg 885w\" sizes=\"(max-width: 885px) 100vw, 885px\" /></a><br />\nExperts from <a href=\"http://www.macleans.ca/federal-budget-2016/\" ><em>Maclean&#8217;s</em></a> magazine and our very own <a href=\"http://www.moneysense.ca/tag/budget-2016/\" ><em>MoneySense</em></a> personal finance gurus are here to answer all your federal budget questions. Leave your questions below when the live chat starts at 1 p.m. EST or get ahead by tweeting your query using the hashtag #BudgetChat.   </p>\n<p><iframe src=\"http://embed.scribblelive.com/Embed/v7.aspx?Id=1968095&#038;ThemeId=27634\" width=\"100%\" height=\"1200\" frameborder=\"0\"></iframe></p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/news/live-chat-your-federal-budget-questions-answered/\">Live Chat: Your federal budget questions answered</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','Live Chat: Your federal budget questions answered','<p>Tune in at 1 p.m. EST for our expert Q&amp;A on how the budget affects you</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/news/live-chat-your-federal-budget-questions-answered/\">Live Chat: Your federal budget questions answered</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','inherit','closed','closed','','1251-revision-v1','','','2016-03-23 12:00:15','2016-03-23 16:00:15','',1251,'http://feedwordpress.radgeek.com/?rev=ddd7c45b7e8b28467ee11d344e0d6527',0,'revision','',0),(1254,1,'2016-03-23 10:30:41','2016-03-23 14:30:41','<p><a href=\"http://www.moneysense.ca/tag/budget-2016/\" rel=\"attachment wp-att-150316\"><img class=\"alignnone size-full wp-image-150316\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg\" alt=\"Budget 2016 banner V2\" width=\"885\" height=\"300\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-300x102.jpg 300w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-768x260.jpg 768w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-660x224.jpg 660w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg 885w\" sizes=\"(max-width: 885px) 100vw, 885px\" /></a></p>\n<p>It’s reasonably common knowledge that higher wealth accumulators in Canada will want to do some extra planning to avoid the 33% high income tax rate in the terminal return of the last surviving spouse.  This is generally accomplished by averaging in their taxable pension amounts throughout retirement, if possible.</p>\n<p>However, a sharp eye on marginal tax rates is important in this activity, because clawbacks of the Age Amount and Old Age Security can make income averaging opportunities challenging.</p>\n<p>In fact, when you ask the question, who pays the highest marginal tax rates in Canada, you might be surprised to know it’s not always those whose income exceeds $200,000.  The answer depends on the type of income sources and also depends on whether the taxpayer is subject to a clawback of social benefits and credits.</p>\n<p>Let’s see how clawbacks affect seniors and investors in 2016 under various scenarios.</p>\n<p>In the first, seniors are subject to clawbacks of the age amount, the GST/HST Credit and the Old Age Security at various income levels.  (We have looked at incomes over $30,000 which ignores those who qualify for the Guaranteed Income  Supplement (GIS), which is clawed back at rates of 50% as income rises)</p>\n<p><strong> Scenario: Ontario senior couple, one with eligible pension income spouse has no income</strong></p>\n<table>\n<tbody>\n<tr>\n<td></td>\n<td colspan=\"2\">Current Clawback Rules</td>\n</tr>\n<tr>\n<td>Income</td>\n<td>MTR(tax)</td>\n<td>MTR with clawbacks</td>\n</tr>\n<tr>\n<td>$30,000</td>\n<td>20.05%</td>\n<td>20.05%</td>\n</tr>\n<tr>\n<td>$40,000</td>\n<td>20.05%</td>\n<td>40.10%</td>\n</tr>\n<tr>\n<td><strong>$50,000</strong></td>\n<td><strong>29.65%</strong></td>\n<td><strong>51.15%</strong></td>\n</tr>\n<tr>\n<td><strong>$60,000</strong></td>\n<td><strong>29.65%</strong></td>\n<td><strong>51.15%</strong></td>\n</tr>\n<tr>\n<td><strong>$70,000</strong></td>\n<td><strong>29.65%</strong></td>\n<td><strong>51.15%</strong></td>\n</tr>\n<tr>\n<td><strong>$80,000</strong></td>\n<td><strong>31.48%</strong></td>\n<td><strong>72.48%</strong></td>\n</tr>\n<tr>\n<td><strong>$90,000</strong></td>\n<td><strong>37.91%</strong></td>\n<td><strong>58.41%</strong></td>\n</tr>\n<tr>\n<td><strong>$100,000</strong></td>\n<td><strong>43.41%</strong></td>\n<td><strong>63.91%</strong></td>\n</tr>\n<tr>\n<td><strong>$110,000</strong></td>\n<td><strong>43.41%</strong></td>\n<td><strong>63.91%</strong></td>\n</tr>\n<tr>\n<td>$120,000</td>\n<td>43.41%</td>\n<td>43.41%</td>\n</tr>\n<tr>\n<td>$130,000</td>\n<td>43.41%</td>\n<td>43.41%</td>\n</tr>\n<tr>\n<td>$140,000</td>\n<td>43.41%</td>\n<td>43.41%</td>\n</tr>\n<tr>\n<td>$150,000</td>\n<td>46.41%</td>\n<td>46.41%</td>\n</tr>\n<tr>\n<td>$160,000</td>\n<td>47.97%</td>\n<td>47.97%</td>\n</tr>\n<tr>\n<td>$170,000</td>\n<td>47.97%</td>\n<td>47.97%</td>\n</tr>\n<tr>\n<td>$180,000</td>\n<td>47.97%</td>\n<td>47.97%</td>\n</tr>\n<tr>\n<td>$190,000</td>\n<td>47.97%</td>\n<td>47.97%</td>\n</tr>\n<tr>\n<td>$200,000</td>\n<td>47.97%</td>\n<td>47.97%</td>\n</tr>\n<tr>\n<td>$210,000</td>\n<td>51.97%</td>\n<td>51.97%</td>\n</tr>\n<tr>\n<td>$220,000</td>\n<td>51.97%</td>\n<td>51.97%</td>\n</tr>\n<tr>\n<td>$220,000+</td>\n<td>53.53%</td>\n<td>53.53%</td>\n</tr>\n</tbody>\n</table>\n<p>Clawbacks of social benefits and credits occur as income rise. A typical relief is to reduce net income with an RRSP contribution, if the taxpayer is age eligible and if there is contribution room.</p>\n<p>That’s important. Given the prohibitive marginal tax rates, RRSP contribution opportunities form part of the overall retirement income planning pre-retirees do. So do subsequent re-investments of after-tax remainders into Tax Free Savings Accounts.</p>\n<p><strong>Read:</strong> <a href=\"http://www.moneysense.ca/save/taxes/budget-winners-and-losers-child-benefit/\">The winners and losers of the Canada Child Benefit</a></p>\n<p><strong>Read:</strong> <a href=\"http://www.moneysense.ca/save/retirement/what-the-federal-budget-means-for-seniors/\"> What the budget means for seniors</a></p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/save/taxes/federal-budget-winners-and-losers-watch-out-for-clawbacks/\">Budget winners and losers: Watch out for clawbacks</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','Budget winners and losers: Watch out for clawbacks','<p>Our tax expert lays out the numbers </p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/save/taxes/federal-budget-winners-and-losers-watch-out-for-clawbacks/\">Budget winners and losers: Watch out for clawbacks</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','inherit','closed','closed','','1016-revision-v1','','','2016-03-23 10:30:41','2016-03-23 14:30:41','',1016,'http://feedwordpress.radgeek.com/?rev=090aa47733be35d059243c7079415276',0,'revision','',0),(1255,1,'2016-03-23 10:30:41','2016-03-23 14:30:41','<p><a href=\"http://www.moneysense.ca/tag/budget-2016/\" rel=\"attachment wp-att-150316\"><img class=\"alignnone size-full wp-image-150316\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg\" alt=\"Budget 2016 banner V2\" width=\"885\" height=\"300\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-300x102.jpg 300w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-768x260.jpg 768w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-660x224.jpg 660w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg 885w\" sizes=\"(max-width: 885px) 100vw, 885px\" /></a></p>\n<p>It’s reasonably common knowledge that higher wealth accumulators in Canada will want to do some extra planning to avoid the 33% high income tax rate in the terminal return of the last surviving spouse.  This is generally accomplished by averaging in their taxable pension amounts throughout retirement, if possible.</p>\n<p>However, a sharp eye on marginal tax rates is important in this activity, because clawbacks of the Age Amount and Old Age Security can make income averaging opportunities challenging.</p>\n<p>In fact, when you ask the question, who pays the highest marginal tax rates in Canada, you might be surprised to know it’s not always those whose income exceeds $200,000.  The answer depends on the type of income sources and also depends on whether the taxpayer is subject to a clawback of social benefits and credits.</p>\n<p>Let’s see how clawbacks affect seniors and investors in 2016 under various scenarios.</p>\n<p>In the first, seniors are subject to clawbacks of the age amount, the GST/HST Credit and the Old Age Security at various income levels.  (We have looked at incomes over $30,000 which ignores those who qualify for the Guaranteed Income  Supplement (GIS), which is clawed back at rates of 50% as income rises)</p>\n<p><strong> Scenario: Ontario senior couple, one with eligible pension income spouse has no income</strong></p>\n<table>\n<tbody>\n<tr>\n<td></td>\n<td colspan=\"2\">Current Clawback Rules</td>\n</tr>\n<tr>\n<td>Income</td>\n<td>MTR(tax)</td>\n<td>MTR with clawbacks</td>\n</tr>\n<tr>\n<td>$30,000</td>\n<td>20.05%</td>\n<td>20.05%</td>\n</tr>\n<tr>\n<td>$40,000</td>\n<td>20.05%</td>\n<td>40.10%</td>\n</tr>\n<tr>\n<td><strong>$50,000</strong></td>\n<td><strong>29.65%</strong></td>\n<td><strong>51.15%</strong></td>\n</tr>\n<tr>\n<td><strong>$60,000</strong></td>\n<td><strong>29.65%</strong></td>\n<td><strong>51.15%</strong></td>\n</tr>\n<tr>\n<td><strong>$70,000</strong></td>\n<td><strong>29.65%</strong></td>\n<td><strong>51.15%</strong></td>\n</tr>\n<tr>\n<td><strong>$80,000</strong></td>\n<td><strong>31.48%</strong></td>\n<td><strong>72.48%</strong></td>\n</tr>\n<tr>\n<td><strong>$90,000</strong></td>\n<td><strong>37.91%</strong></td>\n<td><strong>58.41%</strong></td>\n</tr>\n<tr>\n<td><strong>$100,000</strong></td>\n<td><strong>43.41%</strong></td>\n<td><strong>63.91%</strong></td>\n</tr>\n<tr>\n<td><strong>$110,000</strong></td>\n<td><strong>43.41%</strong></td>\n<td><strong>63.91%</strong></td>\n</tr>\n<tr>\n<td>$120,000</td>\n<td>43.41%</td>\n<td>43.41%</td>\n</tr>\n<tr>\n<td>$130,000</td>\n<td>43.41%</td>\n<td>43.41%</td>\n</tr>\n<tr>\n<td>$140,000</td>\n<td>43.41%</td>\n<td>43.41%</td>\n</tr>\n<tr>\n<td>$150,000</td>\n<td>46.41%</td>\n<td>46.41%</td>\n</tr>\n<tr>\n<td>$160,000</td>\n<td>47.97%</td>\n<td>47.97%</td>\n</tr>\n<tr>\n<td>$170,000</td>\n<td>47.97%</td>\n<td>47.97%</td>\n</tr>\n<tr>\n<td>$180,000</td>\n<td>47.97%</td>\n<td>47.97%</td>\n</tr>\n<tr>\n<td>$190,000</td>\n<td>47.97%</td>\n<td>47.97%</td>\n</tr>\n<tr>\n<td>$200,000</td>\n<td>47.97%</td>\n<td>47.97%</td>\n</tr>\n<tr>\n<td>$210,000</td>\n<td>51.97%</td>\n<td>51.97%</td>\n</tr>\n<tr>\n<td>$220,000</td>\n<td>51.97%</td>\n<td>51.97%</td>\n</tr>\n<tr>\n<td>$220,000+</td>\n<td>53.53%</td>\n<td>53.53%</td>\n</tr>\n</tbody>\n</table>\n<p>Clawbacks of social benefits and credits occur as income rise. A typical relief is to reduce net income with an RRSP contribution, if the taxpayer is age eligible and if there is contribution room.</p>\n<p>That’s important. Given the prohibitive marginal tax rates, RRSP contribution opportunities form part of the overall retirement income planning pre-retirees do. So do subsequent re-investments of after-tax remainders into Tax Free Savings Accounts.</p>\n<p><strong>Read:</strong> <a href=\"http://www.moneysense.ca/save/taxes/budget-winners-and-losers-child-benefit/\">The winners and losers of the Canada Child Benefit</a></p>\n<p><strong>Read:</strong> <a href=\"http://www.moneysense.ca/save/retirement/what-the-federal-budget-means-for-seniors/\"> What the budget means for seniors</a></p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/save/taxes/federal-budget-winners-and-losers-watch-out-for-clawbacks/\">Budget winners and losers: Watch out for clawbacks</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','Budget winners and losers: Watch out for clawbacks','<p>Our tax expert lays out the numbers </p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/save/taxes/federal-budget-winners-and-losers-watch-out-for-clawbacks/\">Budget winners and losers: Watch out for clawbacks</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','inherit','closed','closed','','1016-revision-v1','','','2016-03-23 10:30:41','2016-03-23 14:30:41','',1016,'http://feedwordpress.radgeek.com/?rev=090aa47733be35d059243c7079415276',0,'revision','',0),(1256,1,'2016-01-30 19:58:17','2016-01-30 19:58:17','MotoMan finds a very unique place just south of San Diego to talk TECH of the 2017 Hyundai Elantra &amp; 2017 Hyundai Elantra ECO. First, he breaks out the details of the now TWO engines – one featuring an old technology not normally associated with single propulsion system vehicles and the second, a high tech turbo. Then he moves on to the bits that affect driving dynamics but with a special Hyundai twist . . . Then, this being a car aimed at aging hipsters, he covers some of the other tech – like Apple CarPlay, now in a volume Hyundai . . .\n\nMotoMan. Ordinary Car Guy. Extraordinary Adventures\n\nTWICE A WEEK, MotoMan you on car guy adventures like going behind the scenes and hands on at factories, design studios and race tracks to unique driving experiences – everything from the latest cars to military prototype vehicles.\n\nEACH MONTH, MotoMan has an informal discussion with the key people shaping the car industry in front of a live studio &amp; Internet streamed audience. Connect with us via Facebook &amp; Twitter for a full schedule: \n\nSubscribe now to experience our adventures in the car world.\nhttp://www.youtube.com/subscription_center?add_user=motomantv\n\nDownload our MotoManTV App!\n\niTunes/iOS: https://itunes.apple.com/us/app/motomantv/id1049061634?mt=8\nGoogle Play/Android: https://play.google.com/store/apps/details?id=com.openpath.motoman&amp;hl=en\n\nCheck out our Hyundai Playlist:\nhttps://www.youtube.com/playlist?list=PLF6ek7dWy48oQVaVl_pTsfkSvb3szUCNU\n\nFacebook - http://www.facebook.com/MotoManTV\nTwitter - http://twitter.com/MotoManTV\nInstagram – http://instagram.com/motomantv\n\nWebsite - http://www.MotoMan.TV\n\nNEW MUSIC including Son of a Rocket and Raw by Kevin MacLeod/incompetech.com &amp; Jahzzar','2017 Hyundai Elantra &amp; Hyundai Elantra ECO TECH REVIEW (1 of 2)','','publish','open','open','','2017-hyundai-elantra-hyundai-elantra-eco-tech-review-1-of-2','','','2016-01-30 19:58:17','2016-01-30 19:58:17','',0,'http://www.l2ocredit.com/2016/01/30/2017-hyundai-elantra-hyundai-elantra-eco-tech-review-1-of-2/',0,'post','',0),(1257,0,'2016-03-23 12:06:24','2016-03-23 16:06:24','','2017 Hyundai Elantra &amp; Hyundai Elantra ECO TECH REVIEW (1 of 2)','','inherit','open','closed','','2017-hyundai-elantra-hyundai-elantra-eco-tech-review-1-of-2-2','','','2016-03-23 12:06:24','2016-03-23 16:06:24','',1256,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2017-hyundai-elantra-hyundai-elantra-eco-tech-review-1-of-2-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(1258,0,'2016-03-23 12:06:26','2016-03-23 16:06:26','','2017 Hyundai Elantra &amp; Hyundai Elantra ECO TECH REVIEW (1 of 2)','','inherit','open','closed','','2017-hyundai-elantra-hyundai-elantra-eco-tech-review-1-of-2-3','','','2016-03-23 12:06:26','2016-03-23 16:06:26','',1256,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2017-hyundai-elantra-hyundai-elantra-eco-tech-review-1-of-2-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(1259,1,'2016-01-27 20:30:19','2016-01-27 20:30:19','Think of the Maxima as the up-scale Altima that you\'ve been looking for. It\'s smaller than the big boys like the Taurus or Impala but has more style and more luxury features than the average Camcord as well. \n\nMore videos: http://goo.gl/Kj1FlI\nBest cars in 2016: http://goo.gl/3xAVJi\nUpcoming reviews: http://goo.gl/pLtP6U\nAOA on Facebook: http://goo.gl/a47Cu1\n\nThe Mountain Garden: http://goo.gl/icFWcd','2016 Nissan Maxima Review and Road Test - Detailed In 4K UHD1','','publish','open','open','','2016-nissan-maxima-review-and-road-test-detailed-in-4k-uhd1','','','2016-01-27 20:30:19','2016-01-27 20:30:19','',0,'http://www.l2ocredit.com/2016/01/27/2016-nissan-maxima-review-and-road-test-detailed-in-4k-uhd1/',0,'post','',0),(1260,0,'2016-03-23 12:25:07','2016-03-23 16:25:07','','2016 Nissan Maxima Review and Road Test &#8211; Detailed In 4K UHD1','','inherit','open','closed','','2016-nissan-maxima-review-and-road-test-detailed-in-4k-uhd1-2','','','2016-03-23 12:25:07','2016-03-23 16:25:07','',1259,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-nissan-maxima-review-and-road-test-detailed-in-4k-uhd1-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(1261,0,'2016-03-23 12:25:08','2016-03-23 16:25:08','','2016 Nissan Maxima Review and Road Test &#8211; Detailed In 4K UHD1','','inherit','open','closed','','2016-nissan-maxima-review-and-road-test-detailed-in-4k-uhd1-3','','','2016-03-23 12:25:08','2016-03-23 16:25:08','',1259,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-nissan-maxima-review-and-road-test-detailed-in-4k-uhd1-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(1262,0,'2016-03-23 12:25:08','2016-03-23 16:25:08','','2016 Nissan Maxima Review and Road Test &#8211; Detailed In 4K UHD1','','inherit','open','closed','','2016-nissan-maxima-review-and-road-test-detailed-in-4k-uhd1-3','','','2016-03-23 12:25:08','2016-03-23 16:25:08','',1259,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-nissan-maxima-review-and-road-test-detailed-in-4k-uhd1-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(1263,0,'2016-03-23 12:25:08','2016-03-23 16:25:08','','2016 Nissan Maxima Review and Road Test &#8211; Detailed In 4K UHD1','','inherit','open','closed','','2016-nissan-maxima-review-and-road-test-detailed-in-4k-uhd1-4','','','2016-03-23 12:25:08','2016-03-23 16:25:08','',1259,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-nissan-maxima-review-and-road-test-detailed-in-4k-uhd1-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(1264,0,'2016-03-23 12:25:10','2016-03-23 16:25:10','','2016 Nissan Maxima Review and Road Test &#8211; Detailed In 4K UHD1','','inherit','open','closed','','2016-nissan-maxima-review-and-road-test-detailed-in-4k-uhd1-5','','','2016-03-23 12:25:10','2016-03-23 16:25:10','',1259,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-nissan-maxima-review-and-road-test-detailed-in-4k-uhd1-youtube-thumbnail-2.jpg',0,'attachment','image/jpeg',0),(1265,1,'2015-12-18 14:00:01','2015-12-18 14:00:01','Perfect for winter weather, carrying three passengers, and surviving the zombie apocalypse. \n\n Follow Driving!\nTwitter: https://twitter.com/drivingdotca\nInstagram: http://instagram.com/drivingca\nFacebook: https://www.facebook.com/drivingdotca','Armoured Truck | 2016 Terradyne Gurkha RPV | Driving.ca','','publish','open','open','','armoured-truck-2016-terradyne-gurkha-rpv-driving-ca','','','2015-12-18 14:00:01','2015-12-18 14:00:01','',0,'http://www.l2ocredit.com/2015/12/18/armoured-truck-2016-terradyne-gurkha-rpv-driving-ca/',0,'post','',0),(1266,0,'2016-03-23 12:53:42','2016-03-23 16:53:42','','Armoured Truck | 2016 Terradyne Gurkha RPV | Driving.ca','','inherit','open','closed','','armoured-truck-2016-terradyne-gurkha-rpv-driving-ca-2','','','2016-03-23 12:53:42','2016-03-23 16:53:42','',1265,'http://www.l2ocredit.com/wp-content/uploads/2016/03/armoured-truck-2016-terradyne-gurkha-rpv-driving-ca-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(1267,0,'2016-03-23 12:53:42','2016-03-23 16:53:42','','Armoured Truck | 2016 Terradyne Gurkha RPV | Driving.ca','','inherit','open','closed','','armoured-truck-2016-terradyne-gurkha-rpv-driving-ca-3','','','2016-03-23 12:53:42','2016-03-23 16:53:42','',1265,'http://www.l2ocredit.com/wp-content/uploads/2016/03/armoured-truck-2016-terradyne-gurkha-rpv-driving-ca-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(1268,1,'2015-10-20 15:05:04','2015-10-20 15:05:04','Mazda stays true to the original Miata, err, MX-5 formula of maximum fun and minimal bloat. It could quite possible be the most fun you can have for under $30,000.','2016 Mazda MX-5 Miata','','publish','open','open','','2016-mazda-mx-5-miata','','','2015-10-20 15:05:04','2015-10-20 15:05:04','',0,'http://www.l2ocredit.com/2015/10/20/2016-mazda-mx-5-miata/',0,'post','',0),(1269,0,'2016-03-23 13:09:38','2016-03-23 17:09:38','','2016 Mazda MX-5 Miata','','inherit','open','closed','','2016-mazda-mx-5-miata-2','','','2016-03-23 13:09:38','2016-03-23 17:09:38','',1268,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-mazda-mx-5-miata-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(1270,0,'2016-03-23 13:09:38','2016-03-23 17:09:38','','2016 Mazda MX-5 Miata','','inherit','open','closed','','2016-mazda-mx-5-miata-3','','','2016-03-23 13:09:38','2016-03-23 17:09:38','',1268,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-mazda-mx-5-miata-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(1271,1,'2016-03-23 12:00:15','2016-03-23 16:00:15','<p><a href=\"http://www.moneysense.ca/tag/budget-2016/\" rel=\"attachment wp-att-150316\"><img src=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg\" alt=\"Budget 2016 banner V2\" width=\"885\" height=\"300\" class=\"alignnone size-full wp-image-150316\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-300x102.jpg 300w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-768x260.jpg 768w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-660x224.jpg 660w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg 885w\" sizes=\"(max-width: 885px) 100vw, 885px\" /></a><br />\nExperts from <a href=\"http://www.macleans.ca/federal-budget-2016/\" ><em>Maclean&#8217;s</em></a> magazine and our very own <a href=\"http://www.moneysense.ca/tag/budget-2016/\" ><em>MoneySense</em></a> personal finance gurus are here to answer all your federal budget questions. Leave your questions below when the live chat starts at 1 p.m. EST or get ahead by tweeting your query using the hashtag #BudgetChat. All economy and political questions will be addressed from 1 p.m. to 1:30 p.m. and the personal finance portion will run from 1:30 to 2 p.m.    </p>\n<p><iframe src=\"http://embed.scribblelive.com/Embed/v7.aspx?Id=1968095&#038;ThemeId=27634\" width=\"100%\" height=\"1200\" frameborder=\"0\"></iframe></p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/news/live-chat-your-federal-budget-questions-answered/\">Live Chat: Your federal budget questions answered</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','Live Chat: Your federal budget questions answered','<p>Tune in at 1 p.m. EST for our expert Q&amp;A on how the budget affects you</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/news/live-chat-your-federal-budget-questions-answered/\">Live Chat: Your federal budget questions answered</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','inherit','closed','closed','','1251-revision-v1','','','2016-03-23 12:00:15','2016-03-23 16:00:15','',1251,'http://feedwordpress.radgeek.com/?rev=8214e72ef12d605a8bdf174932c849a8',0,'revision','',0),(1272,1,'2016-03-23 12:00:15','2016-03-23 16:00:15','<p><a href=\"http://www.moneysense.ca/tag/budget-2016/\" rel=\"attachment wp-att-150316\"><img src=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg\" alt=\"Budget 2016 banner V2\" width=\"885\" height=\"300\" class=\"alignnone size-full wp-image-150316\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-300x102.jpg 300w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-768x260.jpg 768w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-660x224.jpg 660w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg 885w\" sizes=\"(max-width: 885px) 100vw, 885px\" /></a><br />\nExperts from <a href=\"http://www.macleans.ca/federal-budget-2016/\" ><em>Maclean&#8217;s</em></a> magazine and our very own <a href=\"http://www.moneysense.ca/tag/budget-2016/\" ><em>MoneySense</em></a> personal finance gurus are here to answer all your federal budget questions. Leave your questions below when the live chat starts at 1 p.m. EST or get ahead by tweeting your query using the hashtag #BudgetChat. All economy and political questions will be addressed from 1 p.m. to 1:30 p.m. and the personal finance portion will run from 1:30 to 2 p.m.    </p>\n<p><iframe src=\"http://embed.scribblelive.com/Embed/v7.aspx?Id=1968095&#038;ThemeId=27634\" width=\"100%\" height=\"1200\" frameborder=\"0\"></iframe></p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/news/live-chat-your-federal-budget-questions-answered/\">Live Chat: Your federal budget questions answered</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','Live Chat: Your federal budget questions answered','<p>Tune in at 1 p.m. EST for our expert Q&amp;A on how the budget affects you</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/news/live-chat-your-federal-budget-questions-answered/\">Live Chat: Your federal budget questions answered</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','inherit','closed','closed','','1251-revision-v1','','','2016-03-23 12:00:15','2016-03-23 16:00:15','',1251,'http://feedwordpress.radgeek.com/?rev=8214e72ef12d605a8bdf174932c849a8',0,'revision','',0),(1273,1,'2016-03-23 06:15:57','2016-03-23 10:15:57','<p><a href=\"http://www.moneysense.ca/tag/budget-2016/\" rel=\"attachment wp-att-150316\"><img class=\"alignnone size-full wp-image-150316\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg\" alt=\"Budget 2016 banner V2\" width=\"885\" height=\"300\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-300x102.jpg 300w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-768x260.jpg 768w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-660x224.jpg 660w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg 885w\" sizes=\"(max-width: 885px) 100vw, 885px\" /></a></p>\n<p>The federal budget made some important tax changes for families.  The good news is that the much rumoured increase to the capital gains inclusions rate did not come to fruition in this budget,  and the anticipated changes to stock option benefits have been deferred for now. But if you’ve invested in corporate class mutual funds, you&#8217;ll want to do any switching between funds on a tax-free basis now until September as that special tax-free treatment will disappear.</p>\n<p>Charities will also wince at the cancellation of a provision expected to begin in 2017, introduced in the last budget. That is, the donation of sales proceeds from a qualifying private corporate or real estate dispositions will no longer qualify for a capital gains exemption if proceeds are donated to charity.</p>\n<p><strong>Live chat:</strong> <a href=\"http://www.moneysense.ca/news/live-chat-your-federal-budget-questions-answered/\">Have questions? Tune in to our live chat and our experts will answer</a></p>\n<p>Families will be happy with the introduction of the <strong>Canada Child Benefit (CCB)</strong>, which is a refundable credit based on family net income. Specifically, the new CCB provides a maximum benefit of $6400 per child under age of six and $5400 per child age six to 17.</p>\n<p>How much you get is based on 2015 family net income, which is determined on the tax return (2015) currently being filed.  So be sure to dig for every deduction that reduces your net income on Line 236.  Also, a tip for the future:  RRSP planning for families is extremely important as clawback zones can bring marginal tax rates well over 50% in some cases:</p>\n<table>\n<tbody>\n<tr>\n<td></td>\n<td colspan=\"2\">Current Clawback Rules</td>\n</tr>\n<tr>\n<td>Income</td>\n<td>MTR(tax)</td>\n<td>MTR with clawbacks</td>\n</tr>\n<tr>\n<td>$30,000</td>\n<td>20.05%</td>\n<td>20.05%</td>\n</tr>\n<tr>\n<td>$40,000</td>\n<td>20.05%</td>\n<td>40.10%</td>\n</tr>\n<tr>\n<td><strong>$50,000</strong></td>\n<td><strong>29.65%</strong></td>\n<td><strong>51.15%</strong></td>\n</tr>\n<tr>\n<td><strong>$60,000</strong></td>\n<td><strong>29.65%</strong></td>\n<td><strong>51.15%</strong></td>\n</tr>\n<tr>\n<td><strong>$70,000</strong></td>\n<td><strong>29.65%</strong></td>\n<td><strong>51.15%</strong></td>\n</tr>\n<tr>\n<td><strong>$80,000</strong></td>\n<td><strong>31.48%</strong></td>\n<td><strong>72.48%</strong></td>\n</tr>\n<tr>\n<td><strong>$90,000</strong></td>\n<td><strong>37.91%</strong></td>\n<td><strong>58.41%</strong></td>\n</tr>\n<tr>\n<td><strong>$100,000</strong></td>\n<td><strong>43.41%</strong></td>\n<td><strong>63.91%</strong></td>\n</tr>\n<tr>\n<td><strong>$110,000</strong></td>\n<td><strong>43.41%</strong></td>\n<td><strong>63.91%</strong></td>\n</tr>\n<tr>\n<td>$120,000</td>\n<td>43.41%</td>\n<td>43.41%</td>\n</tr>\n<tr>\n<td>$130,000</td>\n<td>43.41%</td>\n<td>43.41%</td>\n</tr>\n<tr>\n<td>$140,000</td>\n<td>43.41%</td>\n<td>43.41%</td>\n</tr>\n<tr>\n<td>$150,000</td>\n<td>46.41%</td>\n<td>46.41%</td>\n</tr>\n<tr>\n<td>$160,000</td>\n<td>47.97%</td>\n<td>47.97%</td>\n</tr>\n<tr>\n<td>$170,000</td>\n<td>47.97%</td>\n<td>47.97%</td>\n</tr>\n<tr>\n<td>$180,000</td>\n<td>47.97%</td>\n<td>47.97%</td>\n</tr>\n<tr>\n<td>$190,000</td>\n<td>47.97%</td>\n<td>47.97%</td>\n</tr>\n<tr>\n<td>$200,000</td>\n<td>47.97%</td>\n<td>47.97%</td>\n</tr>\n<tr>\n<td><strong>$210,000</strong></td>\n<td><strong>51.97%</strong></td>\n<td><strong>51.97%</strong></td>\n</tr>\n<tr>\n<td><strong>$220,000</strong></td>\n<td><strong>51.97%</strong></td>\n<td><strong>51.97%</strong></td>\n</tr>\n<tr>\n<td><strong>$220,000+</strong></td>\n<td><strong>53.53%</strong></td>\n<td><strong>53.53%</strong></td>\n</tr>\n</tbody>\n</table>\n<p>Do refugees get the benefits?  Foreign-born individuals who are Indians and not Canadian citizens and permanent residents under the Immigration and Refugee Protection Act may legally reside in Canada and receive the CCB. A new limitation is being introduced with regard to eligibility for retroactive payments. Currently individuals may apply for CCTB and Universal Child Care Benefit (UCCB) as far back as the introduction of the programs. Income-tax based credits, however, are limited to a 10-year limitation. Retroactive application of UCCB and CTB will align after 2016, to the 10-year limitation.</p>\n<p>Unfortunately, there is no non-refundable tax credit for minor children for those who do not qualify for the income-tested benefits. This was removed when the previous government introduced the UCCB enhancements and the Family Tax Cut.</p>\n<p>Other non-refundable tax credits will be removed as well:  the education/textbook amounts will disappear, as will the refundable children’s fitness credit.</p>\n<h3><strong>The Canada Child Benefit: See how it affects you </strong></h3>\n<p>The changes the Liberal government has introduced for families has varying result, depending on family net income, how many children the family has, and whether they are under six or six to 17. We did some calculations at Knowledge Bureau to see how families fare in 2016.</p>\n<p>The key learnings are that while middle-income families are generously rewarded with the combination of tax rate reductions and enhanced refundable tax credits, but their marginal tax rates increase significantly as incomes rise to an upper middle class range:  50% for income levels between $70,000 and $80,000 and over<strong> 67% </strong>for income levels between $90,000 and $120,000.<strong> </strong>This makes RRSP planning a must for those families in order to reduce family net income below the $70,000 threshold.</p>\n<p>Let’s look now at the effects of the changes on a low-income family. In this case, net family income is $30,000 and there are three little children in the family – each under six:</p>\n<p><strong>Scenario: Ontario family has three children under 6 and family net income of $30,000</strong></p>\n<table>\n<tbody>\n<tr>\n<td></td>\n<td colspan=\"3\">Both work ($15K each)</td>\n<td colspan=\"3\">One Works ($30K)</td>\n</tr>\n<tr>\n<td></td>\n<td>Old Rules</td>\n<td>New Rules</td>\n<td>Difference</td>\n<td>Old Rules</td>\n<td>New Rules</td>\n<td>Difference</td>\n</tr>\n<tr>\n<td>Earned Income</td>\n<td>$30,000</td>\n<td>$30,000</td>\n<td>$0</td>\n<td>$30,000</td>\n<td>$30,000</td>\n<td>$0</td>\n</tr>\n<tr>\n<td>&#8211; Federal Tax</td>\n<td>1,318</td>\n<td>454</td>\n<td>+864</td>\n<td>1,466</td>\n<td>602</td>\n<td>+864</td>\n</tr>\n<tr>\n<td>&#8211; Provincial Tax</td>\n<td>0</td>\n<td>0</td>\n<td>0</td>\n<td>0</td>\n<td>0</td>\n<td>0</td>\n</tr>\n<tr>\n<td>= Net After Tax</td>\n<td>$28,682</td>\n<td>$29,546</td>\n<td>+$864</td>\n<td>$28,534</td>\n<td>$29,398</td>\n<td>+$864</td>\n</tr>\n<tr>\n<td>+ UCCB</td>\n<td>5,760</td>\n<td>0</td>\n<td>-5,760</td>\n<td>5,760</td>\n<td>0</td>\n<td>-5,760</td>\n</tr>\n<tr>\n<td>+ CTB</td>\n<td>9,656</td>\n<td>19,200</td>\n<td>+9,544</td>\n<td>9,656</td>\n<td>19,200</td>\n<td>+9,544</td>\n</tr>\n<tr>\n<td>+ GSTC</td>\n<td>987</td>\n<td>987</td>\n<td>0</td>\n<td>987</td>\n<td>987</td>\n<td>0</td>\n</tr>\n<tr>\n<td>+ Prov CTB</td>\n<td>3,324</td>\n<td>3,324</td>\n<td>0</td>\n<td>3,324</td>\n<td>3,324</td>\n<td>0</td>\n</tr>\n<tr>\n<td>= Total Income</td>\n<td>$48,409</td>\n<td>$53,057</td>\n<td>+$4,648</td>\n<td>$48,261</td>\n<td>$52,909</td>\n<td>+$4,648</td>\n</tr>\n<tr>\n<td>Monthly Income</td>\n<td>$4,034</td>\n<td>$4,421</td>\n<td>+$387</td>\n<td>$4,022</td>\n<td>$4,409</td>\n<td>+$387</td>\n</tr>\n</tbody>\n</table>\n<p><em>Source: Knowledge Bureau, Inc.</em></p>\n<p><strong>Conclusions:</strong></p>\n<ul>\n<li>Under the new rules a low-income family with three children will be better off by almost $400 per month.</li>\n<li>This family has after-tax income of $4,409 per month.</li>\n<li>Whether single-earner or two working spouses makes little difference.</li>\n<li>The tax system added 75% to earned income under the new rules with one earner.</li>\n</ul>\n<h3>Higher Income Earners</h3>\n<p>Now let’s take a look at the amount of <strong>Canada Child Benefit</strong> receivable and resulting marginal tax rates at higher income levels. The scenario is the following: Ontario family has three children under 6 and various family net income levels below.  But in this case one spouse is working. First let’s take a look at the old rules:</p>\n<p><strong>Table 1: Old Rules</strong></p>\n<table>\n<tbody>\n<tr>\n<td width=\"71\">Income</td>\n<td width=\"68\">Income Tax</td>\n<td width=\"67\">UCCB</td>\n<td width=\"67\">CTB</td>\n<td width=\"65\">GSTC</td>\n<td width=\"71\">After Tax</td>\n<td width=\"59\">Effective Tax Rate</td>\n</tr>\n<tr>\n<td width=\"71\">$30,000</td>\n<td width=\"68\">$1,466</td>\n<td width=\"67\">$5,760</td>\n<td width=\"67\">$9,656</td>\n<td width=\"65\">$987</td>\n<td width=\"71\">$44,937</td>\n<td width=\"59\">-50%</td>\n</tr>\n<tr>\n<td width=\"71\">$40,000</td>\n<td width=\"68\">3,406</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">6,140</td>\n<td width=\"65\">652</td>\n<td width=\"71\">$49,146</td>\n<td width=\"59\">-23%</td>\n</tr>\n<tr>\n<td width=\"71\">$50,000</td>\n<td width=\"68\">6,101</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">4,385</td>\n<td width=\"65\">152</td>\n<td width=\"71\">$54,196</td>\n<td width=\"59\">-8%</td>\n</tr>\n<tr>\n<td width=\"71\">$60,000</td>\n<td width=\"68\">9,165</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">3,985</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$60,580</td>\n<td width=\"59\">-1%</td>\n</tr>\n<tr>\n<td width=\"71\">$70,000</td>\n<td width=\"68\">12,280</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">3,585</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$67,065</td>\n<td width=\"59\">+4%</td>\n</tr>\n<tr>\n<td width=\"71\">$80,000</td>\n<td width=\"68\">15,549</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">3,185</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$73,396</td>\n<td width=\"59\">+8%</td>\n</tr>\n<tr>\n<td width=\"71\">$90,000</td>\n<td width=\"68\">19,014</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">2,785</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$79,531</td>\n<td width=\"59\">+12%</td>\n</tr>\n<tr>\n<td width=\"71\">$100,000</td>\n<td width=\"68\">23,268</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">2,385</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$84,877</td>\n<td width=\"59\">+15%</td>\n</tr>\n<tr>\n<td width=\"71\">$110,000</td>\n<td width=\"68\">27,609</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">1,985</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$90,136</td>\n<td width=\"59\">+18%</td>\n</tr>\n<tr>\n<td width=\"71\">$120,000</td>\n<td width=\"68\">31,949</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">1,585</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$95,396</td>\n<td width=\"59\">+21%</td>\n</tr>\n<tr>\n<td width=\"71\">$130,000</td>\n<td width=\"68\">36,291</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">1,185</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$100,654</td>\n<td width=\"59\">+23%</td>\n</tr>\n<tr>\n<td width=\"71\">$140,000</td>\n<td width=\"68\">40,632</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">785</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$105,913</td>\n<td width=\"59\">+24%</td>\n</tr>\n<tr>\n<td width=\"71\">$150,000</td>\n<td width=\"68\">45,261</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">385</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$110,884</td>\n<td width=\"59\">+26%</td>\n</tr>\n<tr>\n<td width=\"71\">$160,000</td>\n<td width=\"68\">50,058</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">0</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$115,702</td>\n<td width=\"59\">+28%</td>\n</tr>\n</tbody>\n</table>\n<p><em>©2016 Knowledge Bureau, Inc.  All Rights Reserved.</em></p>\n<p>Note that negative figures represent an excess of benefits received over taxes payable. Below, we take a look at what happens under the new rules with our three-child family. We note taxes payable are netted out with eligible refundable tax credits, and compare the results to the old rules.</p>\n<p><strong>Table 2: New Rules</strong></p>\n<table>\n<tbody>\n<tr>\n<td width=\"67\">Income</td>\n<td width=\"50\">Income Tax</td>\n<td width=\"35\">UCCB</td>\n<td width=\"43\">CCB</td>\n<td width=\"43\">GSTC</td>\n<td width=\"57\">Net Tax</td>\n<td width=\"47\">Effective Tax Rate</td>\n<td width=\"59\">Difference</td>\n<td width=\"29\">% Diff</td>\n<td width=\"46\">MTR</td>\n</tr>\n<tr>\n<td width=\"67\">$30,000</td>\n<td width=\"50\">$602</td>\n<td width=\"35\">$0</td>\n<td width=\"43\">$19,200</td>\n<td width=\"43\">$987</td>\n<td width=\"57\">$49,585</td>\n<td width=\"47\">-65%</td>\n<td width=\"59\">$4,648</td>\n<td width=\"29\">15%</td>\n<td width=\"46\">15%</td>\n</tr>\n<tr>\n<td width=\"67\">$40,000</td>\n<td width=\"50\">3,406</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$17,300</td>\n<td width=\"43\">652</td>\n<td width=\"57\">$54,546</td>\n<td width=\"47\">-36%</td>\n<td width=\"59\">$5,400</td>\n<td width=\"29\">14%</td>\n<td width=\"46\">43.15%</td>\n</tr>\n<tr>\n<td width=\"67\">$50,000</td>\n<td width=\"50\">6,030</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$15,400</td>\n<td width=\"43\">152</td>\n<td width=\"57\">$59,522</td>\n<td width=\"47\">-19%</td>\n<td width=\"59\">$5,326</td>\n<td width=\"29\">11%</td>\n<td width=\"46\">48.65%</td>\n</tr>\n<tr>\n<td width=\"67\">$60,000</td>\n<td width=\"50\">8,944</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$13,500</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$64,556</td>\n<td width=\"47\">-8%</td>\n<td width=\"59\">$3,976</td>\n<td width=\"29\">7%</td>\n<td width=\"46\">48.65%</td>\n</tr>\n<tr>\n<td width=\"67\">$70,000</td>\n<td width=\"50\">11,909</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$12,150</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$70,241</td>\n<td width=\"47\">0%</td>\n<td width=\"59\">$3,176</td>\n<td width=\"29\">5%</td>\n<td width=\"46\">37.15%</td>\n</tr>\n<tr>\n<td width=\"67\">$80,000</td>\n<td width=\"50\">15,028</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$11,350</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$76,322</td>\n<td width=\"47\">5%</td>\n<td width=\"59\">$2,926</td>\n<td width=\"29\">4%</td>\n<td width=\"46\">39.48%</td>\n</tr>\n<tr>\n<td width=\"67\">$90,000</td>\n<td width=\"50\">18,343</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$10,550</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$82,207</td>\n<td width=\"47\">9%</td>\n<td width=\"59\">$2,676</td>\n<td width=\"29\">3%</td>\n<td width=\"46\">45.91%</td>\n</tr>\n<tr>\n<td width=\"67\">$100,000</td>\n<td width=\"50\">22,588</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$9,750</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$87,162</td>\n<td width=\"47\">13%</td>\n<td width=\"59\">$2,285</td>\n<td width=\"29\">2%</td>\n<td width=\"46\">51.41%</td>\n</tr>\n<tr>\n<td width=\"67\">$110,000</td>\n<td width=\"50\">26,929</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$8,950</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$92,021</td>\n<td width=\"47\">16%</td>\n<td width=\"59\">$1,885</td>\n<td width=\"29\">2%</td>\n<td width=\"46\">51.41%</td>\n</tr>\n<tr>\n<td width=\"67\">$120,000</td>\n<td width=\"50\">31,370</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$8,150</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$96,780</td>\n<td width=\"47\">19%</td>\n<td width=\"59\">$1,384</td>\n<td width=\"29\">1%</td>\n<td width=\"46\">51.41%</td>\n</tr>\n<tr>\n<td width=\"67\">$130,000</td>\n<td width=\"50\">35,611</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$7,350</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$101,739</td>\n<td width=\"47\">22%</td>\n<td width=\"59\">$1,085</td>\n<td width=\"29\">1%</td>\n<td width=\"46\">51.41%</td>\n</tr>\n<tr>\n<td width=\"67\">$140,000</td>\n<td width=\"50\">39,952</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$6,550</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$106,598</td>\n<td width=\"47\">24%</td>\n<td width=\"59\">$685</td>\n<td width=\"29\">0%</td>\n<td width=\"46\">51.41%</td>\n</tr>\n<tr>\n<td width=\"67\">$150,000</td>\n<td width=\"50\">44,582</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$5,750</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$111,168</td>\n<td width=\"47\">26%</td>\n<td width=\"59\">$284</td>\n<td width=\"29\">0%</td>\n<td width=\"46\">55.97%</td>\n</tr>\n<tr>\n<td width=\"67\">$160,000</td>\n<td width=\"50\">49,379</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$4,950</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$115,571</td>\n<td width=\"47\">28%</td>\n<td width=\"59\">-$131</td>\n<td width=\"29\">0%</td>\n<td width=\"46\">55.97%</td>\n</tr>\n</tbody>\n</table>\n<p><em>©2016 Knowledge Bureau, Inc.  All Rights Reserved.</em></p>\n<p><strong>Conclusions:</strong></p>\n<ul>\n<li>Family net income can be as high as $70,000 before any net tax is paid (that is, taxes payable less refundable credits received)</li>\n<li>When this family’s income reaches $160,000 it is evident that the UCCB provided more money. In addition the family’s marginal tax rate is quite high, when the clawback of the CCB is taken into account</li>\n<li>However, while high income earners received more benefits under the UCCB regime, the Canada Child Benefit delivers at least some dollars to a broader number of high income families, as illustrated with the high income cut off chart below. In fact, marginal tax rates are over 50% for income levels exceed $100,000 when we take the clawbacks into account. That makes RRSP planning important for families. The deduction of the contribution will help to reduce family net income levels. Child care expense deductions and carry charges on investments are examples of two other deductions that reduce family net income</li>\n</ul>\n<h3>High Income Cut Offs for Canada Child Benefit</h3>\n<p>The following table shows the income level at which the CCB will be eliminated for various families. The full benefit is only received up to family net income of $30,000 but the benefit is available over a surprisingly large income range.</p>\n<table>\n<tbody>\n<tr>\n<td><strong>Ages of Children</strong></td>\n<td><strong>Income Cut-Off</strong></td>\n</tr>\n<tr>\n<td>1 child under 6</td>\n<td>$188,437</td>\n</tr>\n<tr>\n<td>1 child over 6</td>\n<td>$157,187</td>\n</tr>\n<tr>\n<td>2 children, both under 6</td>\n<td>$206,667</td>\n</tr>\n<tr>\n<td>2 children, one under 6</td>\n<td>$189,123</td>\n</tr>\n<tr>\n<td>2 children, both over 5</td>\n<td>$171,579</td>\n</tr>\n<tr>\n<td>3 children all under 6</td>\n<td>$221,875</td>\n</tr>\n<tr>\n<td>3 children, two under 6</td>\n<td>$209,375</td>\n</tr>\n<tr>\n<td>3 children, one under 6</td>\n<td>$196,875</td>\n</tr>\n<tr>\n<td>3 children, all over 5</td>\n<td>$184,375</td>\n</tr>\n<tr>\n<td>4 children, all under 6</td>\n<td>$249,737</td>\n</tr>\n<tr>\n<td>4 children, three under 6</td>\n<td>$239,211</td>\n</tr>\n<tr>\n<td>4 children, two under 6</td>\n<td>$228,684</td>\n</tr>\n<tr>\n<td>4 children, one under 6</td>\n<td>$218,158</td>\n</tr>\n<tr>\n<td>4 children, all over 5</td>\n<td>$207,631</td>\n</tr>\n</tbody>\n</table>\n<h3>Single Child Families</h3>\n<p>In the following scenarios, we take a look at the results under old and new rules that focus on the removal of the UCCB in favour of the CCB and the net results for families at $30,000, $60,000 and $120,000.  In this case, there is only one child.</p>\n<table>\n<tbody>\n<tr>\n<td rowspan=\"2\"><strong>Family </strong></p>\n<p><strong>Income</strong></td>\n<td rowspan=\"2\"><strong>One</strong></p>\n<p><strong>Child</strong></td>\n<td colspan=\"4\"><strong>Old Rules</strong></td>\n<td colspan=\"4\"><strong>New Rules</strong></td>\n<td><strong> </strong></td>\n</tr>\n<tr>\n<td><strong>Income Tax</strong></td>\n<td><strong>CTB</strong></td>\n<td><strong>UCCB</strong></td>\n<td><strong>Net</strong></td>\n<td><strong>Income Tax</strong></td>\n<td><strong>CCB</strong></td>\n<td><strong>UCCB</strong></td>\n<td><strong>Net</strong></td>\n<td><strong>Difference</strong></td>\n</tr>\n<tr>\n<td><strong>$30,000</strong></td>\n<td><strong>&lt;6</strong></td>\n<td>$1,466</td>\n<td>$3,354</td>\n<td>$1,920</td>\n<td>$33,808</td>\n<td>$602</td>\n<td>$6,400</td>\n<td>$   &#8211;</td>\n<td>$35,798</td>\n<td>$1,990</td>\n</tr>\n<tr>\n<td><strong>$30,000</strong></td>\n<td><strong>&gt;5</strong></td>\n<td>$1,466</td>\n<td>$3,354</td>\n<td>$720</td>\n<td>$32,608</td>\n<td>$602</td>\n<td>$5,400</td>\n<td>$   &#8211;</td>\n<td>$34,798</td>\n<td>$2,190</td>\n</tr>\n<tr>\n<td><strong> $60,000 </strong></td>\n<td><strong>&lt;6</strong></td>\n<td>$9,506</td>\n<td>$1,195</td>\n<td>$1,920</td>\n<td>$53,609</td>\n<td>$     8,944</td>\n<td>$   4,300</td>\n<td>$     &#8211;</td>\n<td>$   55,356</td>\n<td>$1,747</td>\n</tr>\n<tr>\n<td><strong> $60,000 </strong></td>\n<td><strong>&gt;5</strong></td>\n<td>$9,273</td>\n<td>$1,195</td>\n<td>$720</td>\n<td>$52,409</td>\n<td>$     8,944</td>\n<td>$   3,300</td>\n<td>$     &#8211;</td>\n<td>$ 54,356</td>\n<td>$1,947</td>\n</tr>\n<tr>\n<td><strong> $120,000 </strong></td>\n<td><strong>&lt;6</strong></td>\n<td>$32,322</td>\n<td>$0</td>\n<td>$1,920</td>\n<td>$89,598</td>\n<td>$ 31,270</td>\n<td>$ 2,190</td>\n<td>$     &#8211;</td>\n<td>$   90,920</td>\n<td>$1,322</td>\n</tr>\n<tr>\n<td><strong> $120,000 </strong></td>\n<td><strong>&gt;5</strong></td>\n<td>$32,058</td>\n<td>$0</td>\n<td>$720</td>\n<td>$88,398</td>\n<td>$ 31,270</td>\n<td>$   1,190</td>\n<td>$     &#8211;</td>\n<td>$   89,920</td>\n<td>$1,522</td>\n</tr>\n</tbody>\n</table>\n<p>Of note is the fact that single-child families are better off with one child under the new rules at either age and across large income ranges. And that’s certainly good news!</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/save/taxes/budget-winners-and-losers-child-benefit/\">The winners and losers of the Canada Child Benefit</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','The winners and losers of the Canada Child Benefit','<p>Our tax expert crunches the numbers </p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/save/taxes/budget-winners-and-losers-child-benefit/\">The winners and losers of the Canada Child Benefit</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','inherit','closed','closed','','1014-revision-v1','','','2016-03-23 06:15:57','2016-03-23 10:15:57','',1014,'http://feedwordpress.radgeek.com/?rev=989ce9fdff6d920eac671f1a3494aa4d',0,'revision','',0),(1274,1,'2016-03-23 06:15:57','2016-03-23 10:15:57','<p><a href=\"http://www.moneysense.ca/tag/budget-2016/\" rel=\"attachment wp-att-150316\"><img class=\"alignnone size-full wp-image-150316\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg\" alt=\"Budget 2016 banner V2\" width=\"885\" height=\"300\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-300x102.jpg 300w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-768x260.jpg 768w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-660x224.jpg 660w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg 885w\" sizes=\"(max-width: 885px) 100vw, 885px\" /></a></p>\n<p>The federal budget made some important tax changes for families.  The good news is that the much rumoured increase to the capital gains inclusions rate did not come to fruition in this budget,  and the anticipated changes to stock option benefits have been deferred for now. But if you’ve invested in corporate class mutual funds, you&#8217;ll want to do any switching between funds on a tax-free basis now until September as that special tax-free treatment will disappear.</p>\n<p>Charities will also wince at the cancellation of a provision expected to begin in 2017, introduced in the last budget. That is, the donation of sales proceeds from a qualifying private corporate or real estate dispositions will no longer qualify for a capital gains exemption if proceeds are donated to charity.</p>\n<p><strong>Live chat:</strong> <a href=\"http://www.moneysense.ca/news/live-chat-your-federal-budget-questions-answered/\">Have questions? Tune in to our live chat and our experts will answer</a></p>\n<p>Families will be happy with the introduction of the <strong>Canada Child Benefit (CCB)</strong>, which is a refundable credit based on family net income. Specifically, the new CCB provides a maximum benefit of $6400 per child under age of six and $5400 per child age six to 17.</p>\n<p>How much you get is based on 2015 family net income, which is determined on the tax return (2015) currently being filed.  So be sure to dig for every deduction that reduces your net income on Line 236.  Also, a tip for the future:  RRSP planning for families is extremely important as clawback zones can bring marginal tax rates well over 50% in some cases:</p>\n<table>\n<tbody>\n<tr>\n<td></td>\n<td colspan=\"2\">Current Clawback Rules</td>\n</tr>\n<tr>\n<td>Income</td>\n<td>MTR(tax)</td>\n<td>MTR with clawbacks</td>\n</tr>\n<tr>\n<td>$30,000</td>\n<td>20.05%</td>\n<td>20.05%</td>\n</tr>\n<tr>\n<td>$40,000</td>\n<td>20.05%</td>\n<td>40.10%</td>\n</tr>\n<tr>\n<td><strong>$50,000</strong></td>\n<td><strong>29.65%</strong></td>\n<td><strong>51.15%</strong></td>\n</tr>\n<tr>\n<td><strong>$60,000</strong></td>\n<td><strong>29.65%</strong></td>\n<td><strong>51.15%</strong></td>\n</tr>\n<tr>\n<td><strong>$70,000</strong></td>\n<td><strong>29.65%</strong></td>\n<td><strong>51.15%</strong></td>\n</tr>\n<tr>\n<td><strong>$80,000</strong></td>\n<td><strong>31.48%</strong></td>\n<td><strong>72.48%</strong></td>\n</tr>\n<tr>\n<td><strong>$90,000</strong></td>\n<td><strong>37.91%</strong></td>\n<td><strong>58.41%</strong></td>\n</tr>\n<tr>\n<td><strong>$100,000</strong></td>\n<td><strong>43.41%</strong></td>\n<td><strong>63.91%</strong></td>\n</tr>\n<tr>\n<td><strong>$110,000</strong></td>\n<td><strong>43.41%</strong></td>\n<td><strong>63.91%</strong></td>\n</tr>\n<tr>\n<td>$120,000</td>\n<td>43.41%</td>\n<td>43.41%</td>\n</tr>\n<tr>\n<td>$130,000</td>\n<td>43.41%</td>\n<td>43.41%</td>\n</tr>\n<tr>\n<td>$140,000</td>\n<td>43.41%</td>\n<td>43.41%</td>\n</tr>\n<tr>\n<td>$150,000</td>\n<td>46.41%</td>\n<td>46.41%</td>\n</tr>\n<tr>\n<td>$160,000</td>\n<td>47.97%</td>\n<td>47.97%</td>\n</tr>\n<tr>\n<td>$170,000</td>\n<td>47.97%</td>\n<td>47.97%</td>\n</tr>\n<tr>\n<td>$180,000</td>\n<td>47.97%</td>\n<td>47.97%</td>\n</tr>\n<tr>\n<td>$190,000</td>\n<td>47.97%</td>\n<td>47.97%</td>\n</tr>\n<tr>\n<td>$200,000</td>\n<td>47.97%</td>\n<td>47.97%</td>\n</tr>\n<tr>\n<td><strong>$210,000</strong></td>\n<td><strong>51.97%</strong></td>\n<td><strong>51.97%</strong></td>\n</tr>\n<tr>\n<td><strong>$220,000</strong></td>\n<td><strong>51.97%</strong></td>\n<td><strong>51.97%</strong></td>\n</tr>\n<tr>\n<td><strong>$220,000+</strong></td>\n<td><strong>53.53%</strong></td>\n<td><strong>53.53%</strong></td>\n</tr>\n</tbody>\n</table>\n<p>Do refugees get the benefits?  Foreign-born individuals who are Indians and not Canadian citizens and permanent residents under the Immigration and Refugee Protection Act may legally reside in Canada and receive the CCB. A new limitation is being introduced with regard to eligibility for retroactive payments. Currently individuals may apply for CCTB and Universal Child Care Benefit (UCCB) as far back as the introduction of the programs. Income-tax based credits, however, are limited to a 10-year limitation. Retroactive application of UCCB and CTB will align after 2016, to the 10-year limitation.</p>\n<p>Unfortunately, there is no non-refundable tax credit for minor children for those who do not qualify for the income-tested benefits. This was removed when the previous government introduced the UCCB enhancements and the Family Tax Cut.</p>\n<p>Other non-refundable tax credits will be removed as well:  the education/textbook amounts will disappear, as will the refundable children’s fitness credit.</p>\n<h3><strong>The Canada Child Benefit: See how it affects you </strong></h3>\n<p>The changes the Liberal government has introduced for families has varying result, depending on family net income, how many children the family has, and whether they are under six or six to 17. We did some calculations at Knowledge Bureau to see how families fare in 2016.</p>\n<p>The key learnings are that while middle-income families are generously rewarded with the combination of tax rate reductions and enhanced refundable tax credits, but their marginal tax rates increase significantly as incomes rise to an upper middle class range:  50% for income levels between $70,000 and $80,000 and over<strong> 67% </strong>for income levels between $90,000 and $120,000.<strong> </strong>This makes RRSP planning a must for those families in order to reduce family net income below the $70,000 threshold.</p>\n<p>Let’s look now at the effects of the changes on a low-income family. In this case, net family income is $30,000 and there are three little children in the family – each under six:</p>\n<p><strong>Scenario: Ontario family has three children under 6 and family net income of $30,000</strong></p>\n<table>\n<tbody>\n<tr>\n<td></td>\n<td colspan=\"3\">Both work ($15K each)</td>\n<td colspan=\"3\">One Works ($30K)</td>\n</tr>\n<tr>\n<td></td>\n<td>Old Rules</td>\n<td>New Rules</td>\n<td>Difference</td>\n<td>Old Rules</td>\n<td>New Rules</td>\n<td>Difference</td>\n</tr>\n<tr>\n<td>Earned Income</td>\n<td>$30,000</td>\n<td>$30,000</td>\n<td>$0</td>\n<td>$30,000</td>\n<td>$30,000</td>\n<td>$0</td>\n</tr>\n<tr>\n<td>&#8211; Federal Tax</td>\n<td>1,318</td>\n<td>454</td>\n<td>+864</td>\n<td>1,466</td>\n<td>602</td>\n<td>+864</td>\n</tr>\n<tr>\n<td>&#8211; Provincial Tax</td>\n<td>0</td>\n<td>0</td>\n<td>0</td>\n<td>0</td>\n<td>0</td>\n<td>0</td>\n</tr>\n<tr>\n<td>= Net After Tax</td>\n<td>$28,682</td>\n<td>$29,546</td>\n<td>+$864</td>\n<td>$28,534</td>\n<td>$29,398</td>\n<td>+$864</td>\n</tr>\n<tr>\n<td>+ UCCB</td>\n<td>5,760</td>\n<td>0</td>\n<td>-5,760</td>\n<td>5,760</td>\n<td>0</td>\n<td>-5,760</td>\n</tr>\n<tr>\n<td>+ CTB</td>\n<td>9,656</td>\n<td>19,200</td>\n<td>+9,544</td>\n<td>9,656</td>\n<td>19,200</td>\n<td>+9,544</td>\n</tr>\n<tr>\n<td>+ GSTC</td>\n<td>987</td>\n<td>987</td>\n<td>0</td>\n<td>987</td>\n<td>987</td>\n<td>0</td>\n</tr>\n<tr>\n<td>+ Prov CTB</td>\n<td>3,324</td>\n<td>3,324</td>\n<td>0</td>\n<td>3,324</td>\n<td>3,324</td>\n<td>0</td>\n</tr>\n<tr>\n<td>= Total Income</td>\n<td>$48,409</td>\n<td>$53,057</td>\n<td>+$4,648</td>\n<td>$48,261</td>\n<td>$52,909</td>\n<td>+$4,648</td>\n</tr>\n<tr>\n<td>Monthly Income</td>\n<td>$4,034</td>\n<td>$4,421</td>\n<td>+$387</td>\n<td>$4,022</td>\n<td>$4,409</td>\n<td>+$387</td>\n</tr>\n</tbody>\n</table>\n<p><em>Source: Knowledge Bureau, Inc.</em></p>\n<p><strong>Conclusions:</strong></p>\n<ul>\n<li>Under the new rules a low-income family with three children will be better off by almost $400 per month.</li>\n<li>This family has after-tax income of $4,409 per month.</li>\n<li>Whether single-earner or two working spouses makes little difference.</li>\n<li>The tax system added 75% to earned income under the new rules with one earner.</li>\n</ul>\n<h3>Higher Income Earners</h3>\n<p>Now let’s take a look at the amount of <strong>Canada Child Benefit</strong> receivable and resulting marginal tax rates at higher income levels. The scenario is the following: Ontario family has three children under 6 and various family net income levels below.  But in this case one spouse is working. First let’s take a look at the old rules:</p>\n<p><strong>Table 1: Old Rules</strong></p>\n<table>\n<tbody>\n<tr>\n<td width=\"71\">Income</td>\n<td width=\"68\">Income Tax</td>\n<td width=\"67\">UCCB</td>\n<td width=\"67\">CTB</td>\n<td width=\"65\">GSTC</td>\n<td width=\"71\">After Tax</td>\n<td width=\"59\">Effective Tax Rate</td>\n</tr>\n<tr>\n<td width=\"71\">$30,000</td>\n<td width=\"68\">$1,466</td>\n<td width=\"67\">$5,760</td>\n<td width=\"67\">$9,656</td>\n<td width=\"65\">$987</td>\n<td width=\"71\">$44,937</td>\n<td width=\"59\">-50%</td>\n</tr>\n<tr>\n<td width=\"71\">$40,000</td>\n<td width=\"68\">3,406</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">6,140</td>\n<td width=\"65\">652</td>\n<td width=\"71\">$49,146</td>\n<td width=\"59\">-23%</td>\n</tr>\n<tr>\n<td width=\"71\">$50,000</td>\n<td width=\"68\">6,101</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">4,385</td>\n<td width=\"65\">152</td>\n<td width=\"71\">$54,196</td>\n<td width=\"59\">-8%</td>\n</tr>\n<tr>\n<td width=\"71\">$60,000</td>\n<td width=\"68\">9,165</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">3,985</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$60,580</td>\n<td width=\"59\">-1%</td>\n</tr>\n<tr>\n<td width=\"71\">$70,000</td>\n<td width=\"68\">12,280</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">3,585</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$67,065</td>\n<td width=\"59\">+4%</td>\n</tr>\n<tr>\n<td width=\"71\">$80,000</td>\n<td width=\"68\">15,549</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">3,185</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$73,396</td>\n<td width=\"59\">+8%</td>\n</tr>\n<tr>\n<td width=\"71\">$90,000</td>\n<td width=\"68\">19,014</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">2,785</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$79,531</td>\n<td width=\"59\">+12%</td>\n</tr>\n<tr>\n<td width=\"71\">$100,000</td>\n<td width=\"68\">23,268</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">2,385</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$84,877</td>\n<td width=\"59\">+15%</td>\n</tr>\n<tr>\n<td width=\"71\">$110,000</td>\n<td width=\"68\">27,609</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">1,985</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$90,136</td>\n<td width=\"59\">+18%</td>\n</tr>\n<tr>\n<td width=\"71\">$120,000</td>\n<td width=\"68\">31,949</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">1,585</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$95,396</td>\n<td width=\"59\">+21%</td>\n</tr>\n<tr>\n<td width=\"71\">$130,000</td>\n<td width=\"68\">36,291</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">1,185</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$100,654</td>\n<td width=\"59\">+23%</td>\n</tr>\n<tr>\n<td width=\"71\">$140,000</td>\n<td width=\"68\">40,632</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">785</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$105,913</td>\n<td width=\"59\">+24%</td>\n</tr>\n<tr>\n<td width=\"71\">$150,000</td>\n<td width=\"68\">45,261</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">385</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$110,884</td>\n<td width=\"59\">+26%</td>\n</tr>\n<tr>\n<td width=\"71\">$160,000</td>\n<td width=\"68\">50,058</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">0</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$115,702</td>\n<td width=\"59\">+28%</td>\n</tr>\n</tbody>\n</table>\n<p><em>©2016 Knowledge Bureau, Inc.  All Rights Reserved.</em></p>\n<p>Note that negative figures represent an excess of benefits received over taxes payable. Below, we take a look at what happens under the new rules with our three-child family. We note taxes payable are netted out with eligible refundable tax credits, and compare the results to the old rules.</p>\n<p><strong>Table 2: New Rules</strong></p>\n<table>\n<tbody>\n<tr>\n<td width=\"67\">Income</td>\n<td width=\"50\">Income Tax</td>\n<td width=\"35\">UCCB</td>\n<td width=\"43\">CCB</td>\n<td width=\"43\">GSTC</td>\n<td width=\"57\">Net Tax</td>\n<td width=\"47\">Effective Tax Rate</td>\n<td width=\"59\">Difference</td>\n<td width=\"29\">% Diff</td>\n<td width=\"46\">MTR</td>\n</tr>\n<tr>\n<td width=\"67\">$30,000</td>\n<td width=\"50\">$602</td>\n<td width=\"35\">$0</td>\n<td width=\"43\">$19,200</td>\n<td width=\"43\">$987</td>\n<td width=\"57\">$49,585</td>\n<td width=\"47\">-65%</td>\n<td width=\"59\">$4,648</td>\n<td width=\"29\">15%</td>\n<td width=\"46\">15%</td>\n</tr>\n<tr>\n<td width=\"67\">$40,000</td>\n<td width=\"50\">3,406</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$17,300</td>\n<td width=\"43\">652</td>\n<td width=\"57\">$54,546</td>\n<td width=\"47\">-36%</td>\n<td width=\"59\">$5,400</td>\n<td width=\"29\">14%</td>\n<td width=\"46\">43.15%</td>\n</tr>\n<tr>\n<td width=\"67\">$50,000</td>\n<td width=\"50\">6,030</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$15,400</td>\n<td width=\"43\">152</td>\n<td width=\"57\">$59,522</td>\n<td width=\"47\">-19%</td>\n<td width=\"59\">$5,326</td>\n<td width=\"29\">11%</td>\n<td width=\"46\">48.65%</td>\n</tr>\n<tr>\n<td width=\"67\">$60,000</td>\n<td width=\"50\">8,944</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$13,500</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$64,556</td>\n<td width=\"47\">-8%</td>\n<td width=\"59\">$3,976</td>\n<td width=\"29\">7%</td>\n<td width=\"46\">48.65%</td>\n</tr>\n<tr>\n<td width=\"67\">$70,000</td>\n<td width=\"50\">11,909</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$12,150</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$70,241</td>\n<td width=\"47\">0%</td>\n<td width=\"59\">$3,176</td>\n<td width=\"29\">5%</td>\n<td width=\"46\">37.15%</td>\n</tr>\n<tr>\n<td width=\"67\">$80,000</td>\n<td width=\"50\">15,028</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$11,350</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$76,322</td>\n<td width=\"47\">5%</td>\n<td width=\"59\">$2,926</td>\n<td width=\"29\">4%</td>\n<td width=\"46\">39.48%</td>\n</tr>\n<tr>\n<td width=\"67\">$90,000</td>\n<td width=\"50\">18,343</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$10,550</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$82,207</td>\n<td width=\"47\">9%</td>\n<td width=\"59\">$2,676</td>\n<td width=\"29\">3%</td>\n<td width=\"46\">45.91%</td>\n</tr>\n<tr>\n<td width=\"67\">$100,000</td>\n<td width=\"50\">22,588</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$9,750</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$87,162</td>\n<td width=\"47\">13%</td>\n<td width=\"59\">$2,285</td>\n<td width=\"29\">2%</td>\n<td width=\"46\">51.41%</td>\n</tr>\n<tr>\n<td width=\"67\">$110,000</td>\n<td width=\"50\">26,929</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$8,950</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$92,021</td>\n<td width=\"47\">16%</td>\n<td width=\"59\">$1,885</td>\n<td width=\"29\">2%</td>\n<td width=\"46\">51.41%</td>\n</tr>\n<tr>\n<td width=\"67\">$120,000</td>\n<td width=\"50\">31,370</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$8,150</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$96,780</td>\n<td width=\"47\">19%</td>\n<td width=\"59\">$1,384</td>\n<td width=\"29\">1%</td>\n<td width=\"46\">51.41%</td>\n</tr>\n<tr>\n<td width=\"67\">$130,000</td>\n<td width=\"50\">35,611</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$7,350</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$101,739</td>\n<td width=\"47\">22%</td>\n<td width=\"59\">$1,085</td>\n<td width=\"29\">1%</td>\n<td width=\"46\">51.41%</td>\n</tr>\n<tr>\n<td width=\"67\">$140,000</td>\n<td width=\"50\">39,952</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$6,550</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$106,598</td>\n<td width=\"47\">24%</td>\n<td width=\"59\">$685</td>\n<td width=\"29\">0%</td>\n<td width=\"46\">51.41%</td>\n</tr>\n<tr>\n<td width=\"67\">$150,000</td>\n<td width=\"50\">44,582</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$5,750</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$111,168</td>\n<td width=\"47\">26%</td>\n<td width=\"59\">$284</td>\n<td width=\"29\">0%</td>\n<td width=\"46\">55.97%</td>\n</tr>\n<tr>\n<td width=\"67\">$160,000</td>\n<td width=\"50\">49,379</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$4,950</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$115,571</td>\n<td width=\"47\">28%</td>\n<td width=\"59\">-$131</td>\n<td width=\"29\">0%</td>\n<td width=\"46\">55.97%</td>\n</tr>\n</tbody>\n</table>\n<p><em>©2016 Knowledge Bureau, Inc.  All Rights Reserved.</em></p>\n<p><strong>Conclusions:</strong></p>\n<ul>\n<li>Family net income can be as high as $70,000 before any net tax is paid (that is, taxes payable less refundable credits received)</li>\n<li>When this family’s income reaches $160,000 it is evident that the UCCB provided more money. In addition the family’s marginal tax rate is quite high, when the clawback of the CCB is taken into account</li>\n<li>However, while high income earners received more benefits under the UCCB regime, the Canada Child Benefit delivers at least some dollars to a broader number of high income families, as illustrated with the high income cut off chart below. In fact, marginal tax rates are over 50% for income levels exceed $100,000 when we take the clawbacks into account. That makes RRSP planning important for families. The deduction of the contribution will help to reduce family net income levels. Child care expense deductions and carry charges on investments are examples of two other deductions that reduce family net income</li>\n</ul>\n<h3>High Income Cut Offs for Canada Child Benefit</h3>\n<p>The following table shows the income level at which the CCB will be eliminated for various families. The full benefit is only received up to family net income of $30,000 but the benefit is available over a surprisingly large income range.</p>\n<table>\n<tbody>\n<tr>\n<td><strong>Ages of Children</strong></td>\n<td><strong>Income Cut-Off</strong></td>\n</tr>\n<tr>\n<td>1 child under 6</td>\n<td>$188,437</td>\n</tr>\n<tr>\n<td>1 child over 6</td>\n<td>$157,187</td>\n</tr>\n<tr>\n<td>2 children, both under 6</td>\n<td>$206,667</td>\n</tr>\n<tr>\n<td>2 children, one under 6</td>\n<td>$189,123</td>\n</tr>\n<tr>\n<td>2 children, both over 5</td>\n<td>$171,579</td>\n</tr>\n<tr>\n<td>3 children all under 6</td>\n<td>$221,875</td>\n</tr>\n<tr>\n<td>3 children, two under 6</td>\n<td>$209,375</td>\n</tr>\n<tr>\n<td>3 children, one under 6</td>\n<td>$196,875</td>\n</tr>\n<tr>\n<td>3 children, all over 5</td>\n<td>$184,375</td>\n</tr>\n<tr>\n<td>4 children, all under 6</td>\n<td>$249,737</td>\n</tr>\n<tr>\n<td>4 children, three under 6</td>\n<td>$239,211</td>\n</tr>\n<tr>\n<td>4 children, two under 6</td>\n<td>$228,684</td>\n</tr>\n<tr>\n<td>4 children, one under 6</td>\n<td>$218,158</td>\n</tr>\n<tr>\n<td>4 children, all over 5</td>\n<td>$207,631</td>\n</tr>\n</tbody>\n</table>\n<h3>Single Child Families</h3>\n<p>In the following scenarios, we take a look at the results under old and new rules that focus on the removal of the UCCB in favour of the CCB and the net results for families at $30,000, $60,000 and $120,000.  In this case, there is only one child.</p>\n<table>\n<tbody>\n<tr>\n<td rowspan=\"2\"><strong>Family </strong></p>\n<p><strong>Income</strong></td>\n<td rowspan=\"2\"><strong>One</strong></p>\n<p><strong>Child</strong></td>\n<td colspan=\"4\"><strong>Old Rules</strong></td>\n<td colspan=\"4\"><strong>New Rules</strong></td>\n<td><strong> </strong></td>\n</tr>\n<tr>\n<td><strong>Income Tax</strong></td>\n<td><strong>CTB</strong></td>\n<td><strong>UCCB</strong></td>\n<td><strong>Net</strong></td>\n<td><strong>Income Tax</strong></td>\n<td><strong>CCB</strong></td>\n<td><strong>UCCB</strong></td>\n<td><strong>Net</strong></td>\n<td><strong>Difference</strong></td>\n</tr>\n<tr>\n<td><strong>$30,000</strong></td>\n<td><strong>&lt;6</strong></td>\n<td>$1,466</td>\n<td>$3,354</td>\n<td>$1,920</td>\n<td>$33,808</td>\n<td>$602</td>\n<td>$6,400</td>\n<td>$   &#8211;</td>\n<td>$35,798</td>\n<td>$1,990</td>\n</tr>\n<tr>\n<td><strong>$30,000</strong></td>\n<td><strong>&gt;5</strong></td>\n<td>$1,466</td>\n<td>$3,354</td>\n<td>$720</td>\n<td>$32,608</td>\n<td>$602</td>\n<td>$5,400</td>\n<td>$   &#8211;</td>\n<td>$34,798</td>\n<td>$2,190</td>\n</tr>\n<tr>\n<td><strong> $60,000 </strong></td>\n<td><strong>&lt;6</strong></td>\n<td>$9,506</td>\n<td>$1,195</td>\n<td>$1,920</td>\n<td>$53,609</td>\n<td>$     8,944</td>\n<td>$   4,300</td>\n<td>$     &#8211;</td>\n<td>$   55,356</td>\n<td>$1,747</td>\n</tr>\n<tr>\n<td><strong> $60,000 </strong></td>\n<td><strong>&gt;5</strong></td>\n<td>$9,273</td>\n<td>$1,195</td>\n<td>$720</td>\n<td>$52,409</td>\n<td>$     8,944</td>\n<td>$   3,300</td>\n<td>$     &#8211;</td>\n<td>$ 54,356</td>\n<td>$1,947</td>\n</tr>\n<tr>\n<td><strong> $120,000 </strong></td>\n<td><strong>&lt;6</strong></td>\n<td>$32,322</td>\n<td>$0</td>\n<td>$1,920</td>\n<td>$89,598</td>\n<td>$ 31,270</td>\n<td>$ 2,190</td>\n<td>$     &#8211;</td>\n<td>$   90,920</td>\n<td>$1,322</td>\n</tr>\n<tr>\n<td><strong> $120,000 </strong></td>\n<td><strong>&gt;5</strong></td>\n<td>$32,058</td>\n<td>$0</td>\n<td>$720</td>\n<td>$88,398</td>\n<td>$ 31,270</td>\n<td>$   1,190</td>\n<td>$     &#8211;</td>\n<td>$   89,920</td>\n<td>$1,522</td>\n</tr>\n</tbody>\n</table>\n<p>Of note is the fact that single-child families are better off with one child under the new rules at either age and across large income ranges. And that’s certainly good news!</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/save/taxes/budget-winners-and-losers-child-benefit/\">The winners and losers of the Canada Child Benefit</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','The winners and losers of the Canada Child Benefit','<p>Our tax expert crunches the numbers </p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/save/taxes/budget-winners-and-losers-child-benefit/\">The winners and losers of the Canada Child Benefit</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','inherit','closed','closed','','1014-revision-v1','','','2016-03-23 06:15:57','2016-03-23 10:15:57','',1014,'http://feedwordpress.radgeek.com/?rev=989ce9fdff6d920eac671f1a3494aa4d',0,'revision','',0),(1275,1,'2016-03-22 19:48:29','2016-03-22 23:48:29','<p><a href=\"http://www.moneysense.ca/tag/budget-2016/\" rel=\"attachment wp-att-150316\"><img class=\"alignnone size-full wp-image-150316\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg\" alt=\"Budget 2016 banner V2\" width=\"885\" height=\"300\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-300x102.jpg 300w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-768x260.jpg 768w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-660x224.jpg 660w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg 885w\" sizes=\"(max-width: 885px) 100vw, 885px\" /></a></p>\n<div itemscope=\"itemscope\" itemtype=\"http://schema.org/VideoObject\">\n\n        <meta itemprop=\"duration\" content=\"PT17M48S\" />\n        <meta itemprop=\"thumbnailUrl\" content=\"http://newsandbusiness.rogersdigitalmedia.com.edgesuite.net/bcassets/13639244001/13639244001_4813100169001_thumbnail-for-video-4812788644001.jpg?pubId=13639244001\" />\n        <meta itemprop=\"name\" content=\"Budget 2016: MoneySense experts comment\" />\n        <meta itemprop=\"description\" content=\"MoneySense&#039;s Romana King, MoneyCoaches Canada&#039;s Janet Gray and Knowledge Bureau&#039;s Evelyn Jacks discuss the ramificiations of Budget 2016 for average Canadians.\" />\n        <meta itemprop=\"uploadDate\" content=\"2016-03-22T21:57:49+00:00\" />\n    \n    <div style=\"display: none;\"></div>\n\n    <script type=\"text/javascript\" src=\"http://admin.brightcove.com/js/BrightcoveExperiences.js\"></script>\n    <script type=\"text/javascript\" src=\"http://admin.brightcove.com/js/api/SmartPlayerAPI.js\"></script>\n\n    <object id=\"myExperience4812788644001\" class=\"BrightcoveExperience\">\n        <param name=\"bgcolor\" value=\"#FFFFFF\" />\n        <param name=\"width\" value=\"640\" />\n        <param name=\"height\" value=\"360\" />\n        <param name=\"playerID\" value=\"2659807263001\" />\n        <param name=\"playerKey\" value=\"AQ~~,AAAAAyz2WOE~,aVUQ6mHrguBSAk3aprArcQ8EfouzY6bY\" />\n        <param name=\"isVid\" value=\"true\" />\n        <param name=\"isUI\" value=\"true\" />\n        <param name=\"dynamicStreaming\" value=\"true\" />\n        <param name=\"includeAPI\" value=\"true\" />\n        <param name=\"templateLoadHandler\" value=\"onTemplateLoad\" />\n        <param name=\"templateReadyHandler\" value=\"onTemplateReady\" />\n        <param name=\"@videoPlayer\" value=\"4812788644001\" />\n                <param name=\"adServerURL\" value=\"http://pubads.g.doubleclick.net/gampad/ads?sz=640x360&amp;iu=%2F7326%2Frogers.publishing%2Fmoneysense.CPGBusiness%2Fvideos&amp;ciu_szs=728x90%2C300x250&amp;impl=s&amp;gdfp_req=1&amp;env=vp&amp;output=xml_vast2&amp;ad_rule=1&amp;unviewed_position_start=1&amp;cmsid=1464\" />\n                <param name=\"linkBaseURL\" value=\"http://www.moneysense.ca/news/how-the-federal-budget-will-affect-families/\" />\n        <param name=\"autoStart\" value=\"false\" />\n        <param name=\"wmode\" value=\"transparent\" />\n    </object>\n\n</div>\n\n<script type=\"text/javascript\">\n    brightcove.createExperiences();\n</script>\n\n<p>On Tuesday afternoon, Finance Minister Bill Morneau tabled his first federal budget in the House of Commons. In many ways it was a big budget (promising a $29.4 billion deficit and a plan to invest $120 billion in infrastructure spending over the next 10 years). There were also a number of line items targeted at Canadian investors. Here are three key ways that Budget 2016 impacts them:</p>\n<h3>No. 1: Investors can expect to pay more tax</h3>\n<p>Budget 2016 aims to close loopholes that some investors use to reduce tax paid to the Canada Revenue Agency (CRA). For instance, it will examine the use of “debt-parking transactions,” used by investors or private corporations in an effort to “preserve the integrity of the foreign exchange computational rules.”</p>\n<p>The Budget will also “prevent the asymmetrical recognition of gains and losses on derivatives for tax purposes,” and “prevent the deferral of capital gains tax by investors in mutual fund corporations structured as switch funds.”</p>\n<p>Also introduced in Budget 2016 is a new rule that would &#8220;effectively treat the portion of any gain realized on the sale of a linked note that is attributable to the variable return on the note as accrued interest on the note.”</p>\n<h3><strong>No. 2: The Labour-Sponsored tax credit will be reinstated</strong></h3>\n<p>Budget 2016 restores the tax credit for share purchases of provincially registered Labour-Sponsored Venture Capital Corporations to 15% for 2016 and subsequent tax years. The aim is to aid small- and medium-sized businesses, by helping them gain access to venture capital and providing federal tax relief of about $815 million through 2020–21.</p>\n<h3><strong>No. 3: The elimination of capital gains tax exemption on donations</strong></h3>\n<p>Last year&#8217;s budget included a proposal to provide an income  tax exemption on capital gains of donated private corporation shares or real estate, beginning in 2017. (To qualify, the cash proceeds from the disposition need to be donated to a registered charity or other qualified donee within 30 days.) Budget 2016 eliminates this tax exemption.</p>\n<p>&nbsp;</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/news/3-ways-the-federal-budget-will-affect-investors/\">3 ways the federal budget will affect investors</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','3 ways the federal budget will affect investors','<p>First up: They can expect to pay more tax</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/news/3-ways-the-federal-budget-will-affect-investors/\">3 ways the federal budget will affect investors</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','inherit','closed','closed','','1022-revision-v1','','','2016-03-22 19:48:29','2016-03-22 23:48:29','',1022,'http://feedwordpress.radgeek.com/?rev=4ca2e672e7d846240c20c9beecb4dca8',0,'revision','',0),(1276,1,'2016-03-22 19:48:29','2016-03-22 23:48:29','<p><a href=\"http://www.moneysense.ca/tag/budget-2016/\" rel=\"attachment wp-att-150316\"><img class=\"alignnone size-full wp-image-150316\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg\" alt=\"Budget 2016 banner V2\" width=\"885\" height=\"300\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-300x102.jpg 300w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-768x260.jpg 768w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-660x224.jpg 660w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg 885w\" sizes=\"(max-width: 885px) 100vw, 885px\" /></a></p>\n<div itemscope=\"itemscope\" itemtype=\"http://schema.org/VideoObject\">\n\n        <meta itemprop=\"duration\" content=\"PT17M48S\" />\n        <meta itemprop=\"thumbnailUrl\" content=\"http://newsandbusiness.rogersdigitalmedia.com.edgesuite.net/bcassets/13639244001/13639244001_4813100169001_thumbnail-for-video-4812788644001.jpg?pubId=13639244001\" />\n        <meta itemprop=\"name\" content=\"Budget 2016: MoneySense experts comment\" />\n        <meta itemprop=\"description\" content=\"MoneySense&#039;s Romana King, MoneyCoaches Canada&#039;s Janet Gray and Knowledge Bureau&#039;s Evelyn Jacks discuss the ramificiations of Budget 2016 for average Canadians.\" />\n        <meta itemprop=\"uploadDate\" content=\"2016-03-22T21:57:49+00:00\" />\n    \n    <div style=\"display: none;\"></div>\n\n    <script type=\"text/javascript\" src=\"http://admin.brightcove.com/js/BrightcoveExperiences.js\"></script>\n    <script type=\"text/javascript\" src=\"http://admin.brightcove.com/js/api/SmartPlayerAPI.js\"></script>\n\n    <object id=\"myExperience4812788644001\" class=\"BrightcoveExperience\">\n        <param name=\"bgcolor\" value=\"#FFFFFF\" />\n        <param name=\"width\" value=\"640\" />\n        <param name=\"height\" value=\"360\" />\n        <param name=\"playerID\" value=\"2659807263001\" />\n        <param name=\"playerKey\" value=\"AQ~~,AAAAAyz2WOE~,aVUQ6mHrguBSAk3aprArcQ8EfouzY6bY\" />\n        <param name=\"isVid\" value=\"true\" />\n        <param name=\"isUI\" value=\"true\" />\n        <param name=\"dynamicStreaming\" value=\"true\" />\n        <param name=\"includeAPI\" value=\"true\" />\n        <param name=\"templateLoadHandler\" value=\"onTemplateLoad\" />\n        <param name=\"templateReadyHandler\" value=\"onTemplateReady\" />\n        <param name=\"@videoPlayer\" value=\"4812788644001\" />\n                <param name=\"adServerURL\" value=\"http://pubads.g.doubleclick.net/gampad/ads?sz=640x360&amp;iu=%2F7326%2Frogers.publishing%2Fmoneysense.CPGBusiness%2Fvideos&amp;ciu_szs=728x90%2C300x250&amp;impl=s&amp;gdfp_req=1&amp;env=vp&amp;output=xml_vast2&amp;ad_rule=1&amp;unviewed_position_start=1&amp;cmsid=1464\" />\n                <param name=\"linkBaseURL\" value=\"http://www.moneysense.ca/news/how-the-federal-budget-will-affect-families/\" />\n        <param name=\"autoStart\" value=\"false\" />\n        <param name=\"wmode\" value=\"transparent\" />\n    </object>\n\n</div>\n\n<script type=\"text/javascript\">\n    brightcove.createExperiences();\n</script>\n\n<p>On Tuesday afternoon, Finance Minister Bill Morneau tabled his first federal budget in the House of Commons. In many ways it was a big budget (promising a $29.4 billion deficit and a plan to invest $120 billion in infrastructure spending over the next 10 years). There were also a number of line items targeted at Canadian investors. Here are three key ways that Budget 2016 impacts them:</p>\n<h3>No. 1: Investors can expect to pay more tax</h3>\n<p>Budget 2016 aims to close loopholes that some investors use to reduce tax paid to the Canada Revenue Agency (CRA). For instance, it will examine the use of “debt-parking transactions,” used by investors or private corporations in an effort to “preserve the integrity of the foreign exchange computational rules.”</p>\n<p>The Budget will also “prevent the asymmetrical recognition of gains and losses on derivatives for tax purposes,” and “prevent the deferral of capital gains tax by investors in mutual fund corporations structured as switch funds.”</p>\n<p>Also introduced in Budget 2016 is a new rule that would &#8220;effectively treat the portion of any gain realized on the sale of a linked note that is attributable to the variable return on the note as accrued interest on the note.”</p>\n<h3><strong>No. 2: The Labour-Sponsored tax credit will be reinstated</strong></h3>\n<p>Budget 2016 restores the tax credit for share purchases of provincially registered Labour-Sponsored Venture Capital Corporations to 15% for 2016 and subsequent tax years. The aim is to aid small- and medium-sized businesses, by helping them gain access to venture capital and providing federal tax relief of about $815 million through 2020–21.</p>\n<h3><strong>No. 3: The elimination of capital gains tax exemption on donations</strong></h3>\n<p>Last year&#8217;s budget included a proposal to provide an income  tax exemption on capital gains of donated private corporation shares or real estate, beginning in 2017. (To qualify, the cash proceeds from the disposition need to be donated to a registered charity or other qualified donee within 30 days.) Budget 2016 eliminates this tax exemption.</p>\n<p>&nbsp;</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/news/3-ways-the-federal-budget-will-affect-investors/\">3 ways the federal budget will affect investors</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','3 ways the federal budget will affect investors','<p>First up: They can expect to pay more tax</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/news/3-ways-the-federal-budget-will-affect-investors/\">3 ways the federal budget will affect investors</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','inherit','closed','closed','','1022-revision-v1','','','2016-03-22 19:48:29','2016-03-22 23:48:29','',1022,'http://feedwordpress.radgeek.com/?rev=4ca2e672e7d846240c20c9beecb4dca8',0,'revision','',0),(1277,1,'2016-03-22 19:38:52','2016-03-22 23:38:52','<p><a href=\"http://www.moneysense.ca/tag/budget-2016/\" rel=\"attachment wp-att-150316\"><img class=\"alignnone size-full wp-image-150316\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg\" alt=\"Budget 2016 banner V2\" width=\"885\" height=\"300\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-300x102.jpg 300w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-768x260.jpg 768w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-660x224.jpg 660w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg 885w\" sizes=\"(max-width: 885px) 100vw, 885px\" /></a></p>\n<div itemscope=\"itemscope\" itemtype=\"http://schema.org/VideoObject\">\n\n        <meta itemprop=\"duration\" content=\"PT17M48S\" />\n        <meta itemprop=\"thumbnailUrl\" content=\"http://newsandbusiness.rogersdigitalmedia.com.edgesuite.net/bcassets/13639244001/13639244001_4813100169001_thumbnail-for-video-4812788644001.jpg?pubId=13639244001\" />\n        <meta itemprop=\"name\" content=\"Budget 2016: MoneySense experts comment\" />\n        <meta itemprop=\"description\" content=\"MoneySense&#039;s Romana King, MoneyCoaches Canada&#039;s Janet Gray and Knowledge Bureau&#039;s Evelyn Jacks discuss the ramificiations of Budget 2016 for average Canadians.\" />\n        <meta itemprop=\"uploadDate\" content=\"2016-03-22T21:57:49+00:00\" />\n    \n    <div style=\"display: none;\"></div>\n\n    <script type=\"text/javascript\" src=\"http://admin.brightcove.com/js/BrightcoveExperiences.js\"></script>\n    <script type=\"text/javascript\" src=\"http://admin.brightcove.com/js/api/SmartPlayerAPI.js\"></script>\n\n    <object id=\"myExperience4812788644001\" class=\"BrightcoveExperience\">\n        <param name=\"bgcolor\" value=\"#FFFFFF\" />\n        <param name=\"width\" value=\"640\" />\n        <param name=\"height\" value=\"360\" />\n        <param name=\"playerID\" value=\"2659807263001\" />\n        <param name=\"playerKey\" value=\"AQ~~,AAAAAyz2WOE~,aVUQ6mHrguBSAk3aprArcQ8EfouzY6bY\" />\n        <param name=\"isVid\" value=\"true\" />\n        <param name=\"isUI\" value=\"true\" />\n        <param name=\"dynamicStreaming\" value=\"true\" />\n        <param name=\"includeAPI\" value=\"true\" />\n        <param name=\"templateLoadHandler\" value=\"onTemplateLoad\" />\n        <param name=\"templateReadyHandler\" value=\"onTemplateReady\" />\n        <param name=\"@videoPlayer\" value=\"4812788644001\" />\n                <param name=\"adServerURL\" value=\"http://pubads.g.doubleclick.net/gampad/ads?sz=640x360&amp;iu=%2F7326%2Frogers.publishing%2Fmoneysense.CPGBusiness%2Fvideos&amp;ciu_szs=728x90%2C300x250&amp;impl=s&amp;gdfp_req=1&amp;env=vp&amp;output=xml_vast2&amp;ad_rule=1&amp;unviewed_position_start=1&amp;cmsid=1464\" />\n                <param name=\"linkBaseURL\" value=\"http://www.moneysense.ca/news/how-the-federal-budget-will-affect-families/\" />\n        <param name=\"autoStart\" value=\"false\" />\n        <param name=\"wmode\" value=\"transparent\" />\n    </object>\n\n</div>\n\n<script type=\"text/javascript\">\n    brightcove.createExperiences();\n</script>\n\n<p>For the first time in Canadian history, there are more seniors over the age of 65 than there are children under the age of 15. What this means is that, over time, there will be fewer Canadians working to support the overall population. Seniors issues are only going to grow in importance.</p>\n<p>With that in mind, let&#8217;s dig into what happened in this budget related to seniors. Some of it we already knew, some of it adds up to real change and some omissions are worth noting.</p>\n<p><strong>Live chat:</strong> <a href=\"http://www.moneysense.ca/news/live-chat-your-federal-budget-questions-answered/\">Have questions? Tune in to our live chat &amp; our experts will answer</a></p>\n<h3><strong>The OAS reversal</strong></h3>\n<p>As already announced, the eligibility ages of the Old Age Security program will be restored. Budget 2016 proposes to cancel the provisions in the Old Age Security Act that would have increased the age of eligibility for OAS and Guaranteed Income Supplement benefits from 65 to 67 and Allowance benefits from 60 to 62 over the 2023 to 2029 period.</p>\n<p>Restoring the eligibility age for OAS and GIS benefits to 65 will put thousands of dollars back in the pockets of Canadians as they become seniors. These benefits are an important part of the retirement income of Canadians, particularly for lower-income seniors.</p>\n<p>Vulnerable seniors depend on this support, and without it, face a much higher risk of living in poverty.</p>\n<p>This announcement by the government is basically undoing something that wasn’t due to happen until 2023. The former government put it in place and the current government took it away. Aside from adding some bureaucratic paperwork, no one was impacted by this, although it was certainly hanging over the heads of investors and their planners. Most of them will be thrilled by this reversal, even if they have to amend their financial plans to reflect this.</p>\n<h3><strong>Guaranteed Income Supplement</strong></h3>\n<p>In Canada, the retirement income system has been successful in reducing the incidence of poverty among Canadian seniors due mainly to Canada Pension Plan (CPP) and OAS. However, of those who do struggle to make ends meet in retirement, single seniors are hardest hit. They are nearly three times more likely to live in low income than seniors generally. For that reason, the federal budget offers an increase to the GIS.</p>\n<p>The federal budget promises to top up this monthly non-taxable benefit for low-income OAS recipients, by up to $947 annually, improving the financial security of about 900,000 seniors across Canada. It doubles the current maximum GIS top-up and represents a 10% increase in the total GIS benefits available to the lowest-income single seniors. A few other key facts about the supplement increase:</p>\n<ul>\n<li>It represents an investment of over $670 million per year</li>\n<li>The graduated benefits are based on income threshold of $4,600</li>\n<li>The benefits will be phased out at income of $8,400 or more</li>\n<li>Going forward, they will be calculated based on individual (not combined) incomes</li>\n</ul>\n<p>That last point is especially meaningful to senior couples who have to live apart for reasons beyond their control and who will see an even greater increase in their GIS benefits. This enhancement will help to defer the higher costs of living of maintaining two residences and reduce the risk of increased poverty.</p>\n<p>This proposed increase supports those seniors who rely almost exclusively on OAS and GIS benefits and may therefore be at risk of experiencing financial difficulties. It allows low-income single seniors more freedom of choice with their finances, while knowing they will receive a guaranteed monthly benefit that will increase with inflation over time.</p>\n<p>However, Statistics Canada has indicated that the Low Income Measure (LIM) for a single senior is $22,000 per year so there is still more work to be done on this in order to bring these 900,000 low income seniors to a reasonable, liveable income.</p>\n<p>Here are a few scenarios that illustrate the impact of the changes:</p>\n<ul>\n<li><em>Lynn is a 74-year-old resident of Montréal, Quebec, who lives alone. With no income apart from OAS and GIS benefits, she struggles to make ends meet. The increase in the GIS top-up benefit for single seniors proposed in Budget 2016 will provide Lynn with an additional $947 per year.</em></li>\n</ul>\n<ul>\n<li><em>Charles is a 68-year-old widower residing in Edmonton, Alberta. Charles receives annual CPP benefits of $5,000 along with OAS and GIS benefits. The increase in the GIS top-up benefit for single seniors proposed in Budget 2016 will provide Charles with an additional $848 per year.  </em></li>\n</ul>\n<ul>\n<li><em>Heather and David have been married for 40 years. David, age 77, receives annual CPP benefits of $3,000 and OAS and GIS bene</em><em>fits of over $12,500. Heather, age 62, has annual earnings from her part-time job of $6,000 and receives over $5,800 </em><em>in Allowance benefits. Taken together, the OAS program provides Heather and David with over $18,300 in annual income support. </em><em>David requires long-term care and Heather and David must live apart. Budget 2016 proposes to allow David and Heather to receive their GIS</em><em> and Allowance benefits based on their individual incomes, recognizing the higher costs of living that Heather and David would face </em><em>living apart. As a result of the proposed change, David would receive over $14,300 in OAS and GIS benefits. Heather would receive about $8,300 in Allowance benefits. Taken together, the OAS</em><em> program would provide annual income support of about $22,600, an increase of more than $4,000 from current levels.</em></li>\n</ul>\n<h3><strong>Affordable housing for seniors</strong></h3>\n<p>Canada’s senior population is growing, and many seniors now find it difficult to afford housing that is suitable, or that allows them to easily stay in their homes as long as possible.</p>\n<p>Budget 2016 proposes to provide $200.7 million over two years, starting in 2016–17, to support the construction, repair and adaption of affordable housing for seniors. While funding will be provided under the Investment in Affordable Housing initiative, provinces and territories will not be required to cost-match these investments. This investment is expected to help improve housing conditions for more than 5,000 low-income senior households.</p>\n<p>This initiative helps seniors to age at home which is exactly what the majority of seniors prefer but with many seniors still living in the own homes, this program will need to be more fulsome and last longer than two years to offset the impending lack of affordable and accessible housing for this demographic. The provinces and territories will need to step up with their investments to augment this new federal funding.</p>\n<p>Seniors will also be interested to know that there are commitments to improve client services at the Canada Revenue Agency. The CRA will reduce their telephone wait times, new and more easily understood correspondence, and more liaison with local volunteer groups that provide help to low income Canadians with their tax returns.  This is a welcome announcement from the CRA.</p>\n<h3><strong>What’s missing from the budget?</strong></h3>\n<p>Seniors’ groups have been asking for a national pharmacare program to ensure cross-Canada price equity and availability, extended compassionate leave and a national caregivers program, as well as a national home care strategy to allow seniors to age with dignity in their homes. So, while we&#8217;re a little further down the path–there is more room to go.</p>\n<hr />\n<p><a href=\"http://www.moneysenseapproved.com/findanadvisor/\"><img class=\"alignleft wp-image-118650\" src=\"http://www.moneysense.ca/wp-content/uploads/2015/05/Screen-Shot-2015-04-30-at-4.48.05-PM.png\" alt=\"MoneySense Approved\" width=\"250\" height=\"178\" /></a><a href=\"http://www.moneysenseapproved.com/findanadvisor/\">Find the advisor who&#8217;s right for you</a></p>\n<p>Let us match you with a trusted financial advisor who has the skills, training and approach to money &amp; investing that you need.</p>\n<p><a href=\"http://www.moneysenseapproved.com/findanadvisor/\">Try our search tool now!</a></p>\n<hr />\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/save/retirement/what-the-federal-budget-means-for-seniors/\">What the budget means for seniors</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','What the budget means for seniors','<p>A closer look at changes to OAS, GIS and spending on seniors housing</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/save/retirement/what-the-federal-budget-means-for-seniors/\">What the budget means for seniors</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','inherit','closed','closed','','1038-revision-v1','','','2016-03-22 19:38:52','2016-03-22 23:38:52','',1038,'http://feedwordpress.radgeek.com/?rev=3d9662212257339289a3688c505db1a4',0,'revision','',0),(1278,1,'2016-03-22 19:38:52','2016-03-22 23:38:52','<p><a href=\"http://www.moneysense.ca/tag/budget-2016/\" rel=\"attachment wp-att-150316\"><img class=\"alignnone size-full wp-image-150316\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg\" alt=\"Budget 2016 banner V2\" width=\"885\" height=\"300\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-300x102.jpg 300w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-768x260.jpg 768w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-660x224.jpg 660w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg 885w\" sizes=\"(max-width: 885px) 100vw, 885px\" /></a></p>\n<div itemscope=\"itemscope\" itemtype=\"http://schema.org/VideoObject\">\n\n        <meta itemprop=\"duration\" content=\"PT17M48S\" />\n        <meta itemprop=\"thumbnailUrl\" content=\"http://newsandbusiness.rogersdigitalmedia.com.edgesuite.net/bcassets/13639244001/13639244001_4813100169001_thumbnail-for-video-4812788644001.jpg?pubId=13639244001\" />\n        <meta itemprop=\"name\" content=\"Budget 2016: MoneySense experts comment\" />\n        <meta itemprop=\"description\" content=\"MoneySense&#039;s Romana King, MoneyCoaches Canada&#039;s Janet Gray and Knowledge Bureau&#039;s Evelyn Jacks discuss the ramificiations of Budget 2016 for average Canadians.\" />\n        <meta itemprop=\"uploadDate\" content=\"2016-03-22T21:57:49+00:00\" />\n    \n    <div style=\"display: none;\"></div>\n\n    <script type=\"text/javascript\" src=\"http://admin.brightcove.com/js/BrightcoveExperiences.js\"></script>\n    <script type=\"text/javascript\" src=\"http://admin.brightcove.com/js/api/SmartPlayerAPI.js\"></script>\n\n    <object id=\"myExperience4812788644001\" class=\"BrightcoveExperience\">\n        <param name=\"bgcolor\" value=\"#FFFFFF\" />\n        <param name=\"width\" value=\"640\" />\n        <param name=\"height\" value=\"360\" />\n        <param name=\"playerID\" value=\"2659807263001\" />\n        <param name=\"playerKey\" value=\"AQ~~,AAAAAyz2WOE~,aVUQ6mHrguBSAk3aprArcQ8EfouzY6bY\" />\n        <param name=\"isVid\" value=\"true\" />\n        <param name=\"isUI\" value=\"true\" />\n        <param name=\"dynamicStreaming\" value=\"true\" />\n        <param name=\"includeAPI\" value=\"true\" />\n        <param name=\"templateLoadHandler\" value=\"onTemplateLoad\" />\n        <param name=\"templateReadyHandler\" value=\"onTemplateReady\" />\n        <param name=\"@videoPlayer\" value=\"4812788644001\" />\n                <param name=\"adServerURL\" value=\"http://pubads.g.doubleclick.net/gampad/ads?sz=640x360&amp;iu=%2F7326%2Frogers.publishing%2Fmoneysense.CPGBusiness%2Fvideos&amp;ciu_szs=728x90%2C300x250&amp;impl=s&amp;gdfp_req=1&amp;env=vp&amp;output=xml_vast2&amp;ad_rule=1&amp;unviewed_position_start=1&amp;cmsid=1464\" />\n                <param name=\"linkBaseURL\" value=\"http://www.moneysense.ca/news/how-the-federal-budget-will-affect-families/\" />\n        <param name=\"autoStart\" value=\"false\" />\n        <param name=\"wmode\" value=\"transparent\" />\n    </object>\n\n</div>\n\n<script type=\"text/javascript\">\n    brightcove.createExperiences();\n</script>\n\n<p>For the first time in Canadian history, there are more seniors over the age of 65 than there are children under the age of 15. What this means is that, over time, there will be fewer Canadians working to support the overall population. Seniors issues are only going to grow in importance.</p>\n<p>With that in mind, let&#8217;s dig into what happened in this budget related to seniors. Some of it we already knew, some of it adds up to real change and some omissions are worth noting.</p>\n<p><strong>Live chat:</strong> <a href=\"http://www.moneysense.ca/news/live-chat-your-federal-budget-questions-answered/\">Have questions? Tune in to our live chat &amp; our experts will answer</a></p>\n<h3><strong>The OAS reversal</strong></h3>\n<p>As already announced, the eligibility ages of the Old Age Security program will be restored. Budget 2016 proposes to cancel the provisions in the Old Age Security Act that would have increased the age of eligibility for OAS and Guaranteed Income Supplement benefits from 65 to 67 and Allowance benefits from 60 to 62 over the 2023 to 2029 period.</p>\n<p>Restoring the eligibility age for OAS and GIS benefits to 65 will put thousands of dollars back in the pockets of Canadians as they become seniors. These benefits are an important part of the retirement income of Canadians, particularly for lower-income seniors.</p>\n<p>Vulnerable seniors depend on this support, and without it, face a much higher risk of living in poverty.</p>\n<p>This announcement by the government is basically undoing something that wasn’t due to happen until 2023. The former government put it in place and the current government took it away. Aside from adding some bureaucratic paperwork, no one was impacted by this, although it was certainly hanging over the heads of investors and their planners. Most of them will be thrilled by this reversal, even if they have to amend their financial plans to reflect this.</p>\n<h3><strong>Guaranteed Income Supplement</strong></h3>\n<p>In Canada, the retirement income system has been successful in reducing the incidence of poverty among Canadian seniors due mainly to Canada Pension Plan (CPP) and OAS. However, of those who do struggle to make ends meet in retirement, single seniors are hardest hit. They are nearly three times more likely to live in low income than seniors generally. For that reason, the federal budget offers an increase to the GIS.</p>\n<p>The federal budget promises to top up this monthly non-taxable benefit for low-income OAS recipients, by up to $947 annually, improving the financial security of about 900,000 seniors across Canada. It doubles the current maximum GIS top-up and represents a 10% increase in the total GIS benefits available to the lowest-income single seniors. A few other key facts about the supplement increase:</p>\n<ul>\n<li>It represents an investment of over $670 million per year</li>\n<li>The graduated benefits are based on income threshold of $4,600</li>\n<li>The benefits will be phased out at income of $8,400 or more</li>\n<li>Going forward, they will be calculated based on individual (not combined) incomes</li>\n</ul>\n<p>That last point is especially meaningful to senior couples who have to live apart for reasons beyond their control and who will see an even greater increase in their GIS benefits. This enhancement will help to defer the higher costs of living of maintaining two residences and reduce the risk of increased poverty.</p>\n<p>This proposed increase supports those seniors who rely almost exclusively on OAS and GIS benefits and may therefore be at risk of experiencing financial difficulties. It allows low-income single seniors more freedom of choice with their finances, while knowing they will receive a guaranteed monthly benefit that will increase with inflation over time.</p>\n<p>However, Statistics Canada has indicated that the Low Income Measure (LIM) for a single senior is $22,000 per year so there is still more work to be done on this in order to bring these 900,000 low income seniors to a reasonable, liveable income.</p>\n<p>Here are a few scenarios that illustrate the impact of the changes:</p>\n<ul>\n<li><em>Lynn is a 74-year-old resident of Montréal, Quebec, who lives alone. With no income apart from OAS and GIS benefits, she struggles to make ends meet. The increase in the GIS top-up benefit for single seniors proposed in Budget 2016 will provide Lynn with an additional $947 per year.</em></li>\n</ul>\n<ul>\n<li><em>Charles is a 68-year-old widower residing in Edmonton, Alberta. Charles receives annual CPP benefits of $5,000 along with OAS and GIS benefits. The increase in the GIS top-up benefit for single seniors proposed in Budget 2016 will provide Charles with an additional $848 per year.  </em></li>\n</ul>\n<ul>\n<li><em>Heather and David have been married for 40 years. David, age 77, receives annual CPP benefits of $3,000 and OAS and GIS bene</em><em>fits of over $12,500. Heather, age 62, has annual earnings from her part-time job of $6,000 and receives over $5,800 </em><em>in Allowance benefits. Taken together, the OAS program provides Heather and David with over $18,300 in annual income support. </em><em>David requires long-term care and Heather and David must live apart. Budget 2016 proposes to allow David and Heather to receive their GIS</em><em> and Allowance benefits based on their individual incomes, recognizing the higher costs of living that Heather and David would face </em><em>living apart. As a result of the proposed change, David would receive over $14,300 in OAS and GIS benefits. Heather would receive about $8,300 in Allowance benefits. Taken together, the OAS</em><em> program would provide annual income support of about $22,600, an increase of more than $4,000 from current levels.</em></li>\n</ul>\n<h3><strong>Affordable housing for seniors</strong></h3>\n<p>Canada’s senior population is growing, and many seniors now find it difficult to afford housing that is suitable, or that allows them to easily stay in their homes as long as possible.</p>\n<p>Budget 2016 proposes to provide $200.7 million over two years, starting in 2016–17, to support the construction, repair and adaption of affordable housing for seniors. While funding will be provided under the Investment in Affordable Housing initiative, provinces and territories will not be required to cost-match these investments. This investment is expected to help improve housing conditions for more than 5,000 low-income senior households.</p>\n<p>This initiative helps seniors to age at home which is exactly what the majority of seniors prefer but with many seniors still living in the own homes, this program will need to be more fulsome and last longer than two years to offset the impending lack of affordable and accessible housing for this demographic. The provinces and territories will need to step up with their investments to augment this new federal funding.</p>\n<p>Seniors will also be interested to know that there are commitments to improve client services at the Canada Revenue Agency. The CRA will reduce their telephone wait times, new and more easily understood correspondence, and more liaison with local volunteer groups that provide help to low income Canadians with their tax returns.  This is a welcome announcement from the CRA.</p>\n<h3><strong>What’s missing from the budget?</strong></h3>\n<p>Seniors’ groups have been asking for a national pharmacare program to ensure cross-Canada price equity and availability, extended compassionate leave and a national caregivers program, as well as a national home care strategy to allow seniors to age with dignity in their homes. So, while we&#8217;re a little further down the path–there is more room to go.</p>\n<hr />\n<p><a href=\"http://www.moneysenseapproved.com/findanadvisor/\"><img class=\"alignleft wp-image-118650\" src=\"http://www.moneysense.ca/wp-content/uploads/2015/05/Screen-Shot-2015-04-30-at-4.48.05-PM.png\" alt=\"MoneySense Approved\" width=\"250\" height=\"178\" /></a><a href=\"http://www.moneysenseapproved.com/findanadvisor/\">Find the advisor who&#8217;s right for you</a></p>\n<p>Let us match you with a trusted financial advisor who has the skills, training and approach to money &amp; investing that you need.</p>\n<p><a href=\"http://www.moneysenseapproved.com/findanadvisor/\">Try our search tool now!</a></p>\n<hr />\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/save/retirement/what-the-federal-budget-means-for-seniors/\">What the budget means for seniors</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','What the budget means for seniors','<p>A closer look at changes to OAS, GIS and spending on seniors housing</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/save/retirement/what-the-federal-budget-means-for-seniors/\">What the budget means for seniors</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','inherit','closed','closed','','1038-revision-v1','','','2016-03-22 19:38:52','2016-03-22 23:38:52','',1038,'http://feedwordpress.radgeek.com/?rev=3d9662212257339289a3688c505db1a4',0,'revision','',0),(1279,1,'2016-03-22 19:22:43','2016-03-22 23:22:43','<div itemscope=\"itemscope\" itemtype=\"http://schema.org/VideoObject\">\n\n        <meta itemprop=\"duration\" content=\"PT17M48S\" />\n        <meta itemprop=\"thumbnailUrl\" content=\"http://newsandbusiness.rogersdigitalmedia.com.edgesuite.net/bcassets/13639244001/13639244001_4813100169001_thumbnail-for-video-4812788644001.jpg?pubId=13639244001\" />\n        <meta itemprop=\"name\" content=\"Budget 2016: MoneySense experts comment\" />\n        <meta itemprop=\"description\" content=\"MoneySense&#039;s Romana King, MoneyCoaches Canada&#039;s Janet Gray and Knowledge Bureau&#039;s Evelyn Jacks discuss the ramificiations of Budget 2016 for average Canadians.\" />\n        <meta itemprop=\"uploadDate\" content=\"2016-03-22T21:57:49+00:00\" />\n    \n    <div style=\"display: none;\"></div>\n\n    <script type=\"text/javascript\" src=\"http://admin.brightcove.com/js/BrightcoveExperiences.js\"></script>\n    <script type=\"text/javascript\" src=\"http://admin.brightcove.com/js/api/SmartPlayerAPI.js\"></script>\n\n    <object id=\"myExperience4812788644001\" class=\"BrightcoveExperience\">\n        <param name=\"bgcolor\" value=\"#FFFFFF\" />\n        <param name=\"width\" value=\"640\" />\n        <param name=\"height\" value=\"360\" />\n        <param name=\"playerID\" value=\"2659807263001\" />\n        <param name=\"playerKey\" value=\"AQ~~,AAAAAyz2WOE~,aVUQ6mHrguBSAk3aprArcQ8EfouzY6bY\" />\n        <param name=\"isVid\" value=\"true\" />\n        <param name=\"isUI\" value=\"true\" />\n        <param name=\"dynamicStreaming\" value=\"true\" />\n        <param name=\"includeAPI\" value=\"true\" />\n        <param name=\"templateLoadHandler\" value=\"onTemplateLoad\" />\n        <param name=\"templateReadyHandler\" value=\"onTemplateReady\" />\n        <param name=\"@videoPlayer\" value=\"4812788644001\" />\n                <param name=\"adServerURL\" value=\"http://pubads.g.doubleclick.net/gampad/ads?sz=640x360&amp;iu=%2F7326%2Frogers.publishing%2Fmoneysense.CPGBusiness%2Fvideos&amp;ciu_szs=728x90%2C300x250&amp;impl=s&amp;gdfp_req=1&amp;env=vp&amp;output=xml_vast2&amp;ad_rule=1&amp;unviewed_position_start=1&amp;cmsid=1464\" />\n                <param name=\"linkBaseURL\" value=\"http://www.moneysense.ca/news/how-the-federal-budget-will-affect-families/\" />\n        <param name=\"autoStart\" value=\"false\" />\n        <param name=\"wmode\" value=\"transparent\" />\n    </object>\n\n</div>\n\n<script type=\"text/javascript\">\n    brightcove.createExperiences();\n</script>\n\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/news/panel-what-does-the-federal-budget-mean-for-you/\">Panel: What does the federal budget mean for you?</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','Panel: What does the federal budget mean for you?','<p>Did you miss our live panel? See the experts discuss here</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/news/panel-what-does-the-federal-budget-mean-for-you/\">Panel: What does the federal budget mean for you?</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','inherit','closed','closed','','1040-revision-v1','','','2016-03-22 19:22:43','2016-03-22 23:22:43','',1040,'http://feedwordpress.radgeek.com/?rev=51b3be2aaf850ed8ec69119a520a70d6',0,'revision','',0),(1280,1,'2016-03-22 19:22:43','2016-03-22 23:22:43','<div itemscope=\"itemscope\" itemtype=\"http://schema.org/VideoObject\">\n\n        <meta itemprop=\"duration\" content=\"PT17M48S\" />\n        <meta itemprop=\"thumbnailUrl\" content=\"http://newsandbusiness.rogersdigitalmedia.com.edgesuite.net/bcassets/13639244001/13639244001_4813100169001_thumbnail-for-video-4812788644001.jpg?pubId=13639244001\" />\n        <meta itemprop=\"name\" content=\"Budget 2016: MoneySense experts comment\" />\n        <meta itemprop=\"description\" content=\"MoneySense&#039;s Romana King, MoneyCoaches Canada&#039;s Janet Gray and Knowledge Bureau&#039;s Evelyn Jacks discuss the ramificiations of Budget 2016 for average Canadians.\" />\n        <meta itemprop=\"uploadDate\" content=\"2016-03-22T21:57:49+00:00\" />\n    \n    <div style=\"display: none;\"></div>\n\n    <script type=\"text/javascript\" src=\"http://admin.brightcove.com/js/BrightcoveExperiences.js\"></script>\n    <script type=\"text/javascript\" src=\"http://admin.brightcove.com/js/api/SmartPlayerAPI.js\"></script>\n\n    <object id=\"myExperience4812788644001\" class=\"BrightcoveExperience\">\n        <param name=\"bgcolor\" value=\"#FFFFFF\" />\n        <param name=\"width\" value=\"640\" />\n        <param name=\"height\" value=\"360\" />\n        <param name=\"playerID\" value=\"2659807263001\" />\n        <param name=\"playerKey\" value=\"AQ~~,AAAAAyz2WOE~,aVUQ6mHrguBSAk3aprArcQ8EfouzY6bY\" />\n        <param name=\"isVid\" value=\"true\" />\n        <param name=\"isUI\" value=\"true\" />\n        <param name=\"dynamicStreaming\" value=\"true\" />\n        <param name=\"includeAPI\" value=\"true\" />\n        <param name=\"templateLoadHandler\" value=\"onTemplateLoad\" />\n        <param name=\"templateReadyHandler\" value=\"onTemplateReady\" />\n        <param name=\"@videoPlayer\" value=\"4812788644001\" />\n                <param name=\"adServerURL\" value=\"http://pubads.g.doubleclick.net/gampad/ads?sz=640x360&amp;iu=%2F7326%2Frogers.publishing%2Fmoneysense.CPGBusiness%2Fvideos&amp;ciu_szs=728x90%2C300x250&amp;impl=s&amp;gdfp_req=1&amp;env=vp&amp;output=xml_vast2&amp;ad_rule=1&amp;unviewed_position_start=1&amp;cmsid=1464\" />\n                <param name=\"linkBaseURL\" value=\"http://www.moneysense.ca/news/how-the-federal-budget-will-affect-families/\" />\n        <param name=\"autoStart\" value=\"false\" />\n        <param name=\"wmode\" value=\"transparent\" />\n    </object>\n\n</div>\n\n<script type=\"text/javascript\">\n    brightcove.createExperiences();\n</script>\n\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/news/panel-what-does-the-federal-budget-mean-for-you/\">Panel: What does the federal budget mean for you?</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','Panel: What does the federal budget mean for you?','<p>Did you miss our live panel? See the experts discuss here</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/news/panel-what-does-the-federal-budget-mean-for-you/\">Panel: What does the federal budget mean for you?</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','inherit','closed','closed','','1040-revision-v1','','','2016-03-22 19:22:43','2016-03-22 23:22:43','',1040,'http://feedwordpress.radgeek.com/?rev=51b3be2aaf850ed8ec69119a520a70d6',0,'revision','',0),(1281,1,'2016-01-23 01:52:41','2016-01-23 01:52:41','The BMW X1 was an original in the small crossover segment. Now BMW is already in the market with an all-new X1, built on a shared platform with the Mini brand. This small crossover has more interior room, a new engine and is lighter, making it roomier for all 5-passengers and fun to drive. This German crossover is a perfect urban runabout with room for a family.\n\nCompetitors to the BMW X1 are the Mercedes-Benz GLA,  the Mercedes GLE Coupe, Mercedes-Benz GLE, Mercedes GLE, Mercedes M-Class, Mercedes ML-Class, Mercedes GLK, Mercedes GLC, Mercedes GLA, Mercedes GL, Mercedes G, BMW X5, BMW X6, BMW X3, BMW X1, Audi Q3, Audi Q5, Audi Q7, Audi Q6, Audi A7, BMW 5 Series GT, BMW 4 Series GT, BMW 3 Series GT, Infiniti QX70, Infiniti QX70, Volvo CX60, Volvo CX90, Lexus RX350, Lexus GX, Lexus LX, Porsche Cayenne, Porsche Macan, Range Rover Sport, Range Rover, Land Rover Discovery Sport, Land Rover Discovery, Land Rover LR4, Range Rover Evoque, Acura MDX, Acura RDX, Lincoln MKX, Lincoln MKC, Cadillac SRX, Jeep Grand Cherokee, VW Touareg and Volkswagen Touareg, \n\n\nTwitter: https://twitter.com/MotormouthCDN\nFacebook: http://tinyurl.com/motormouthfb\nMotormouth: http://www.motormouth.ca/\nSubscribe: http://tinyurl.com/motormouthsubscribe\nZack Spencer\nZach Spencer\nCanadian Car Review\nMotormouth Canada','2016 BMW X1 Review','','publish','open','open','','2016-bmw-x1-review','','','2016-01-23 01:52:41','2016-01-23 01:52:41','',0,'http://www.l2ocredit.com/2016/01/23/2016-bmw-x1-review/',0,'post','',0),(1282,0,'2016-03-23 13:32:19','2016-03-23 17:32:19','','2016 BMW X1 Review','','inherit','open','closed','','2016-bmw-x1-review-2','','','2016-03-23 13:32:19','2016-03-23 17:32:19','',1281,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-bmw-x1-review-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(1283,0,'2016-03-23 13:32:19','2016-03-23 17:32:19','','2016 BMW X1 Review','','inherit','open','closed','','2016-bmw-x1-review-3','','','2016-03-23 13:32:19','2016-03-23 17:32:19','',1281,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-bmw-x1-review-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(1284,0,'2016-03-23 13:32:19','2016-03-23 17:32:19','','2016 BMW X1 Review','','inherit','open','closed','','2016-bmw-x1-review-4','','','2016-03-23 13:32:19','2016-03-23 17:32:19','',1281,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-bmw-x1-review-youtube-thumbnail-2.jpg',0,'attachment','image/jpeg',0),(1285,0,'2016-03-23 13:32:19','2016-03-23 17:32:19','','2016 BMW X1 Review','','inherit','open','closed','','2016-bmw-x1-review-5','','','2016-03-23 13:32:19','2016-03-23 17:32:19','',1281,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-bmw-x1-review-youtube-thumbnail-3.jpg',0,'attachment','image/jpeg',0),(1286,0,'2016-03-23 13:32:19','2016-03-23 17:32:19','','2016 BMW X1 Review','','inherit','open','closed','','2016-bmw-x1-review-6','','','2016-03-23 13:32:19','2016-03-23 17:32:19','',1281,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-bmw-x1-review-youtube-thumbnail-4.jpg',0,'attachment','image/jpeg',0),(1287,1,'2016-02-17 00:42:14','2016-02-17 00:42:14','Like Us on Facebook! https://www.facebook.com/pages/Camero... \nFollow Us on Instagram: cameronscarreviews \nSnapchat: camscarreviews \nCamerons Car Reviews Score: 4.5/5 \nPowertrain Options: 3.3 L V6 with a 6-Speed Automatic FWD or AWD  \nEngine &amp; Performance\nBASE ENGINE SIZE 3.3 L \nCAM TYPE Double overhead cam (DOHC)\nCYLINDERS V6 \nVALVES 24\nVALVE TIMING Variable \nTORQUE 252 ft-lbs. @ 5200 rpm\nHORSEPOWER 290 hp @ 6400 rpm \nTURNING CIRCLE 36.9 ft. \nWeights and Capacities\nMAXIMUM TOWING CAPACITY** 5000 lbs. \nMAXIMUM PAYLOAD** 1579 lbs.\nEPA INTERIOR VOLUME 160.0 cu.ft. \nGROSS WEIGHT 5512 lbs.\nCURB WEIGHT 3933 lbs. \nCARGO CAPACITY, ALL SEATS IN PLACE 13.5 cu.ft.\nMAXIMUM CARGO CAPACITY 80.0 cu.ft. \nFuel\nENGINE TYPE Gas \nFUEL TYPE Regular unleaded\nFUEL TANK CAPACITY 18.8 gal. \nRANGE IN MILES (CTY/HWY) 338.4/470.0 mi.\nEPA MILEAGE EST. (CTY/HWY) 18/25 mpg \nCompetitors: Toyota Highlander, Ford Explorer, Honda Pilot, GMC Acadia','2017 Hyundai Santa Fe SE Review 3.3 L V6 | Camerons Car Reviews','','publish','open','open','','2017-hyundai-santa-fe-se-review-3-3-l-v6-camerons-car-reviews','','','2016-02-17 00:42:14','2016-02-17 00:42:14','',0,'http://www.l2ocredit.com/2016/02/17/2017-hyundai-santa-fe-se-review-3-3-l-v6-camerons-car-reviews/',0,'post','',0),(1288,0,'2016-03-23 13:55:43','2016-03-23 17:55:43','','2017 Hyundai Santa Fe SE Review 3.3 L V6 | Camerons Car Reviews','','inherit','open','closed','','2017-hyundai-santa-fe-se-review-3-3-l-v6-camerons-car-reviews-2','','','2016-03-23 13:55:43','2016-03-23 17:55:43','',1287,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2017-hyundai-santa-fe-se-review-3-3-l-v6-camerons-car-reviews-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(1289,0,'2016-03-23 13:55:43','2016-03-23 17:55:43','','2017 Hyundai Santa Fe SE Review 3.3 L V6 | Camerons Car Reviews','','inherit','open','closed','','2017-hyundai-santa-fe-se-review-3-3-l-v6-camerons-car-reviews-3','','','2016-03-23 13:55:43','2016-03-23 17:55:43','',1287,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2017-hyundai-santa-fe-se-review-3-3-l-v6-camerons-car-reviews-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(1290,0,'2016-03-23 13:55:43','2016-03-23 17:55:43','','2017 Hyundai Santa Fe SE Review 3.3 L V6 | Camerons Car Reviews','','inherit','open','closed','','2017-hyundai-santa-fe-se-review-3-3-l-v6-camerons-car-reviews-3','','','2016-03-23 13:55:43','2016-03-23 17:55:43','',1287,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2017-hyundai-santa-fe-se-review-3-3-l-v6-camerons-car-reviews-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(1291,0,'2016-03-23 13:55:43','2016-03-23 17:55:43','','2017 Hyundai Santa Fe SE Review 3.3 L V6 | Camerons Car Reviews','','inherit','open','closed','','2017-hyundai-santa-fe-se-review-3-3-l-v6-camerons-car-reviews-4','','','2016-03-23 13:55:43','2016-03-23 17:55:43','',1287,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2017-hyundai-santa-fe-se-review-3-3-l-v6-camerons-car-reviews-youtube-thumbnail-2.jpg',0,'attachment','image/jpeg',0),(1292,0,'2016-03-23 13:55:44','2016-03-23 17:55:44','','2017 Hyundai Santa Fe SE Review 3.3 L V6 | Camerons Car Reviews','','inherit','open','closed','','2017-hyundai-santa-fe-se-review-3-3-l-v6-camerons-car-reviews-5','','','2016-03-23 13:55:44','2016-03-23 17:55:44','',1287,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2017-hyundai-santa-fe-se-review-3-3-l-v6-camerons-car-reviews-youtube-thumbnail-3.jpg',0,'attachment','image/jpeg',0),(1293,0,'2016-03-23 13:55:44','2016-03-23 17:55:44','','2017 Hyundai Santa Fe SE Review 3.3 L V6 | Camerons Car Reviews','','inherit','open','closed','','2017-hyundai-santa-fe-se-review-3-3-l-v6-camerons-car-reviews-5','','','2016-03-23 13:55:44','2016-03-23 17:55:44','',1287,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2017-hyundai-santa-fe-se-review-3-3-l-v6-camerons-car-reviews-youtube-thumbnail-3.jpg',0,'attachment','image/jpeg',0),(1294,1,'2016-02-13 22:33:51','2016-02-13 22:33:51','KBB\'s coverage of the 2017 Nissan Armada at the 2016 Chicago Auto Show. \n\nKelley Blue Book is your source for new car reviews, auto show coverage, features, comparison tests, and technology reviews. Subscribe to catch all the latest Kelley Blue Book videos. http://www.youtube.com/subscription_center?add_user=kbb','2017 Nissan Armada - 2016 Chicago Auto Show','','publish','open','open','','2017-nissan-armada-2016-chicago-auto-show','','','2016-02-13 22:33:51','2016-02-13 22:33:51','',0,'http://www.l2ocredit.com/2016/02/13/2017-nissan-armada-2016-chicago-auto-show/',0,'post','',0),(1295,0,'2016-03-23 14:14:27','2016-03-23 18:14:27','','2017 Nissan Armada &#8211; 2016 Chicago Auto Show','','inherit','open','closed','','2017-nissan-armada-2016-chicago-auto-show-2','','','2016-03-23 14:14:27','2016-03-23 18:14:27','',1294,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2017-nissan-armada-2016-chicago-auto-show-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(1296,0,'2016-03-23 14:14:27','2016-03-23 18:14:27','','2017 Nissan Armada &#8211; 2016 Chicago Auto Show','','inherit','open','closed','','2017-nissan-armada-2016-chicago-auto-show-2','','','2016-03-23 14:14:27','2016-03-23 18:14:27','',1294,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2017-nissan-armada-2016-chicago-auto-show-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(1297,0,'2016-03-23 14:14:27','2016-03-23 18:14:27','','2017 Nissan Armada &#8211; 2016 Chicago Auto Show','','inherit','open','closed','','2017-nissan-armada-2016-chicago-auto-show-2','','','2016-03-23 14:14:27','2016-03-23 18:14:27','',1294,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2017-nissan-armada-2016-chicago-auto-show-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(1298,0,'2016-03-23 14:14:28','2016-03-23 18:14:28','','2017 Nissan Armada &#8211; 2016 Chicago Auto Show','','inherit','open','closed','','2017-nissan-armada-2016-chicago-auto-show-3','','','2016-03-23 14:14:28','2016-03-23 18:14:28','',1294,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2017-nissan-armada-2016-chicago-auto-show-youtube-thumbnail-2.jpg',0,'attachment','image/jpeg',0),(1299,1,'2016-03-23 14:15:41','2016-03-23 18:15:41','<p><a href=\"http://www.moneysense.ca/tag/budget-2016/\" rel=\"attachment wp-att-150316\"><img class=\"alignnone size-full wp-image-150316\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg\" alt=\"Budget 2016 banner V2\" width=\"885\" height=\"300\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-300x102.jpg 300w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-768x260.jpg 768w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-660x224.jpg 660w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg 885w\" sizes=\"(max-width: 885px) 100vw, 885px\" /></a></p>\n<p>It’s reasonably common knowledge that higher wealth accumulators in Canada will want to do some extra planning to avoid the 33% high income tax rate in the terminal return of the last surviving spouse.  This is generally accomplished by averaging in their taxable pension amounts throughout retirement, if possible.</p>\n<p>However, a sharp eye on marginal tax rates is important in this activity, because clawbacks of the Age Amount and Old Age Security can make income averaging opportunities challenging.</p>\n<p>In fact, when you ask the question, who pays the highest marginal tax rates in Canada, you might be surprised to know it’s not always those whose income exceeds $200,000.  The answer depends on the type of income sources and also depends on whether the taxpayer is subject to a clawback of social benefits and credits.</p>\n<p>Let’s see how clawbacks affect seniors and investors in 2016 under various scenarios.</p>\n<p>In the first, seniors are subject to clawbacks of the age amount, the GST/HST Credit and the Old Age Security at various income levels.  (We have looked at incomes over $30,000 which ignores those who qualify for the Guaranteed Income  Supplement (GIS), which is clawed back at rates of 50% as income rises)</p>\n<p><strong> Scenario: Ontario senior couple, one with eligible pension income spouse has no income</strong></p>\n<table>\n<tbody>\n<tr>\n<td></td>\n<td colspan=\"2\">Current Clawback Rules</td>\n</tr>\n<tr>\n<td>Income</td>\n<td>MTR(tax)</td>\n<td>MTR with clawbacks</td>\n</tr>\n<tr>\n<td>$30,000</td>\n<td>20.05%</td>\n<td>20.05%</td>\n</tr>\n<tr>\n<td>$40,000</td>\n<td>20.05%</td>\n<td>40.10%</td>\n</tr>\n<tr>\n<td><strong>$50,000</strong></td>\n<td><strong>29.65%</strong></td>\n<td><strong>51.15%</strong></td>\n</tr>\n<tr>\n<td><strong>$60,000</strong></td>\n<td><strong>29.65%</strong></td>\n<td><strong>51.15%</strong></td>\n</tr>\n<tr>\n<td><strong>$70,000</strong></td>\n<td><strong>29.65%</strong></td>\n<td><strong>51.15%</strong></td>\n</tr>\n<tr>\n<td><strong>$80,000</strong></td>\n<td><strong>31.48%</strong></td>\n<td><strong>72.48%</strong></td>\n</tr>\n<tr>\n<td><strong>$90,000</strong></td>\n<td><strong>37.91%</strong></td>\n<td><strong>58.41%</strong></td>\n</tr>\n<tr>\n<td><strong>$100,000</strong></td>\n<td><strong>43.41%</strong></td>\n<td><strong>63.91%</strong></td>\n</tr>\n<tr>\n<td><strong>$110,000</strong></td>\n<td><strong>43.41%</strong></td>\n<td><strong>63.91%</strong></td>\n</tr>\n<tr>\n<td>$120,000</td>\n<td>43.41%</td>\n<td>43.41%</td>\n</tr>\n<tr>\n<td>$130,000</td>\n<td>43.41%</td>\n<td>43.41%</td>\n</tr>\n<tr>\n<td>$140,000</td>\n<td>43.41%</td>\n<td>43.41%</td>\n</tr>\n<tr>\n<td>$150,000</td>\n<td>46.41%</td>\n<td>46.41%</td>\n</tr>\n<tr>\n<td>$160,000</td>\n<td>47.97%</td>\n<td>47.97%</td>\n</tr>\n<tr>\n<td>$170,000</td>\n<td>47.97%</td>\n<td>47.97%</td>\n</tr>\n<tr>\n<td>$180,000</td>\n<td>47.97%</td>\n<td>47.97%</td>\n</tr>\n<tr>\n<td>$190,000</td>\n<td>47.97%</td>\n<td>47.97%</td>\n</tr>\n<tr>\n<td>$200,000</td>\n<td>47.97%</td>\n<td>47.97%</td>\n</tr>\n<tr>\n<td>$210,000</td>\n<td>51.97%</td>\n<td>51.97%</td>\n</tr>\n<tr>\n<td>$220,000</td>\n<td>51.97%</td>\n<td>51.97%</td>\n</tr>\n<tr>\n<td>$220,000+</td>\n<td>53.53%</td>\n<td>53.53%</td>\n</tr>\n</tbody>\n</table>\n<p>Clawbacks of social benefits and credits occur as income rise. A typical relief is to reduce net income with an RRSP contribution, if the taxpayer is age eligible and if there is contribution room.</p>\n<p>That’s important. Given the prohibitive marginal tax rates, RRSP contribution opportunities form part of the overall retirement income planning pre-retirees do. So do subsequent re-investments of after-tax remainders into Tax Free Savings Accounts.</p>\n<p><strong>Read:</strong> <a href=\"http://www.moneysense.ca/save/taxes/budget-winners-and-losers-child-benefit/\">The winners and losers of the Canada Child Benefit</a></p>\n<p><strong>Read:</strong> <a href=\"http://www.moneysense.ca/save/retirement/what-the-federal-budget-means-for-seniors/\"> What the budget means for seniors</a></p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/save/taxes/federal-budget-winners-and-losers-watch-out-for-clawbacks/\">Budget winners and losers: Watch out for clawbacks</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','Budget winners and losers: Watch out for clawbacks','<p>Our tax expert lays out the numbers </p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/save/taxes/federal-budget-winners-and-losers-watch-out-for-clawbacks/\">Budget winners and losers: Watch out for clawbacks</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','inherit','closed','closed','','1016-revision-v1','','','2016-03-23 14:15:41','2016-03-23 18:15:41','',1016,'http://feedwordpress.radgeek.com/?rev=090aa47733be35d059243c7079415276',0,'revision','',0),(1300,1,'2016-03-23 12:00:15','2016-03-23 16:00:15','<p><a href=\"http://www.moneysense.ca/tag/budget-2016/\" rel=\"attachment wp-att-150316\"><img class=\"alignnone size-full wp-image-150316\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg\" alt=\"Budget 2016 banner V2\" width=\"885\" height=\"300\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-300x102.jpg 300w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-768x260.jpg 768w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-660x224.jpg 660w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg 885w\" sizes=\"(max-width: 885px) 100vw, 885px\" /></a><br />\nExperts from <a href=\"http://www.macleans.ca/federal-budget-2016/\" ><em>Maclean&#8217;s</em></a> magazine and our very own <a href=\"http://www.moneysense.ca/tag/budget-2016/\" ><em>MoneySense</em></a> personal finance gurus are here to answer all your federal budget questions. All economy and political questions were addressed during the first half of the hour-long chat and the personal finance portion ran for the second half.</p>\n<p>The live portion has concluded. Scroll down to see all the questions and answers!</p>\n<p><iframe src=\"http://embed.scribblelive.com/Embed/v7.aspx?Id=1968095&amp;ThemeId=27634\" width=\"100%\" height=\"1200\" frameborder=\"0\"></iframe></p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/news/live-chat-your-federal-budget-questions-answered/\">Live Chat: Your federal budget questions answered</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','Live Chat: Your federal budget questions answered','<p>Our expert Q&amp;A on how the budget affects you</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/news/live-chat-your-federal-budget-questions-answered/\">Live Chat: Your federal budget questions answered</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','inherit','closed','closed','','1251-revision-v1','','','2016-03-23 12:00:15','2016-03-23 16:00:15','',1251,'http://feedwordpress.radgeek.com/?rev=970ce6408124b7501e0cbe43569d4c55',0,'revision','',0),(1301,1,'2016-03-23 06:15:57','2016-03-23 10:15:57','<p><a href=\"http://www.moneysense.ca/tag/budget-2016/\" rel=\"attachment wp-att-150316\"><img class=\"alignnone size-full wp-image-150316\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg\" alt=\"Budget 2016 banner V2\" width=\"885\" height=\"300\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-300x102.jpg 300w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-768x260.jpg 768w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-660x224.jpg 660w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg 885w\" sizes=\"(max-width: 885px) 100vw, 885px\" /></a></p>\n<p>The federal budget made some important tax changes for families.  The good news is that the much rumoured increase to the capital gains inclusions rate did not come to fruition in this budget,  and the anticipated changes to stock option benefits have been deferred for now. But if you’ve invested in corporate class mutual funds, you&#8217;ll want to do any switching between funds on a tax-free basis now until September as that special tax-free treatment will disappear.</p>\n<p>Charities will also wince at the cancellation of a provision expected to begin in 2017, introduced in the last budget. That is, the donation of sales proceeds from a qualifying private corporate or real estate dispositions will no longer qualify for a capital gains exemption if proceeds are donated to charity.</p>\n<p><strong>Live chat:</strong> <a href=\"http://www.moneysense.ca/news/live-chat-your-federal-budget-questions-answered/\">Have questions? Tune in to our live chat and our experts will answer</a></p>\n<p><strong>Tool:</strong> <a href=\"http://www.budget.gc.ca/2016/tool-outil/ccb-ace-en.html\" >Finance Canada has a nifty calculator that determines your benefits</a></p>\n<p>Families will be happy with the introduction of the <strong>Canada Child Benefit (CCB)</strong>, which is a refundable credit based on family net income. Specifically, the new CCB provides a maximum benefit of $6400 per child under age of six and $5400 per child age six to 17.</p>\n<p>How much you get is based on 2015 family net income, which is determined on the tax return (2015) currently being filed.  So be sure to dig for every deduction that reduces your net income on Line 236.  Also, a tip for the future:  RRSP planning for families is extremely important as clawback zones can bring marginal tax rates well over 50% in some cases:</p>\n<table>\n<tbody>\n<tr>\n<td></td>\n<td colspan=\"2\">Current Clawback Rules</td>\n</tr>\n<tr>\n<td>Income</td>\n<td>MTR(tax)</td>\n<td>MTR with clawbacks</td>\n</tr>\n<tr>\n<td>$30,000</td>\n<td>20.05%</td>\n<td>20.05%</td>\n</tr>\n<tr>\n<td>$40,000</td>\n<td>20.05%</td>\n<td>40.10%</td>\n</tr>\n<tr>\n<td><strong>$50,000</strong></td>\n<td><strong>29.65%</strong></td>\n<td><strong>51.15%</strong></td>\n</tr>\n<tr>\n<td><strong>$60,000</strong></td>\n<td><strong>29.65%</strong></td>\n<td><strong>51.15%</strong></td>\n</tr>\n<tr>\n<td><strong>$70,000</strong></td>\n<td><strong>29.65%</strong></td>\n<td><strong>51.15%</strong></td>\n</tr>\n<tr>\n<td><strong>$80,000</strong></td>\n<td><strong>31.48%</strong></td>\n<td><strong>72.48%</strong></td>\n</tr>\n<tr>\n<td><strong>$90,000</strong></td>\n<td><strong>37.91%</strong></td>\n<td><strong>58.41%</strong></td>\n</tr>\n<tr>\n<td><strong>$100,000</strong></td>\n<td><strong>43.41%</strong></td>\n<td><strong>63.91%</strong></td>\n</tr>\n<tr>\n<td><strong>$110,000</strong></td>\n<td><strong>43.41%</strong></td>\n<td><strong>63.91%</strong></td>\n</tr>\n<tr>\n<td>$120,000</td>\n<td>43.41%</td>\n<td>43.41%</td>\n</tr>\n<tr>\n<td>$130,000</td>\n<td>43.41%</td>\n<td>43.41%</td>\n</tr>\n<tr>\n<td>$140,000</td>\n<td>43.41%</td>\n<td>43.41%</td>\n</tr>\n<tr>\n<td>$150,000</td>\n<td>46.41%</td>\n<td>46.41%</td>\n</tr>\n<tr>\n<td>$160,000</td>\n<td>47.97%</td>\n<td>47.97%</td>\n</tr>\n<tr>\n<td>$170,000</td>\n<td>47.97%</td>\n<td>47.97%</td>\n</tr>\n<tr>\n<td>$180,000</td>\n<td>47.97%</td>\n<td>47.97%</td>\n</tr>\n<tr>\n<td>$190,000</td>\n<td>47.97%</td>\n<td>47.97%</td>\n</tr>\n<tr>\n<td>$200,000</td>\n<td>47.97%</td>\n<td>47.97%</td>\n</tr>\n<tr>\n<td><strong>$210,000</strong></td>\n<td><strong>51.97%</strong></td>\n<td><strong>51.97%</strong></td>\n</tr>\n<tr>\n<td><strong>$220,000</strong></td>\n<td><strong>51.97%</strong></td>\n<td><strong>51.97%</strong></td>\n</tr>\n<tr>\n<td><strong>$220,000+</strong></td>\n<td><strong>53.53%</strong></td>\n<td><strong>53.53%</strong></td>\n</tr>\n</tbody>\n</table>\n<p>Do refugees get the benefits?  Foreign-born individuals who are Indians and not Canadian citizens and permanent residents under the Immigration and Refugee Protection Act may legally reside in Canada and receive the CCB. A new limitation is being introduced with regard to eligibility for retroactive payments. Currently individuals may apply for CCTB and Universal Child Care Benefit (UCCB) as far back as the introduction of the programs. Income-tax based credits, however, are limited to a 10-year limitation. Retroactive application of UCCB and CTB will align after 2016, to the 10-year limitation.</p>\n<p>Unfortunately, there is no non-refundable tax credit for minor children for those who do not qualify for the income-tested benefits. This was removed when the previous government introduced the UCCB enhancements and the Family Tax Cut.</p>\n<p>Other non-refundable tax credits will be removed as well:  the education/textbook amounts will disappear, as will the refundable children’s fitness credit.</p>\n<p><strong>Read:</strong> <a href=\"http://www.macleans.ca/politics/ottawa/child-care-benefit-as-promised/\" >Is the Canada Child Benefit fair?</a></p>\n<h3><strong>The Canada Child Benefit: See how it affects you </strong></h3>\n<p>The changes the Liberal government has introduced for families has varying result, depending on family net income, how many children the family has, and whether they are under six or six to 17. We did some calculations at Knowledge Bureau to see how families fare in 2016.</p>\n<p>The key learnings are that while middle-income families are generously rewarded with the combination of tax rate reductions and enhanced refundable tax credits, but their marginal tax rates increase significantly as incomes rise to an upper middle class range:  50% for income levels between $70,000 and $80,000 and over<strong> 67% </strong>for income levels between $90,000 and $120,000.<strong> </strong>This makes RRSP planning a must for those families in order to reduce family net income below the $70,000 threshold.</p>\n<p>Let’s look now at the effects of the changes on a low-income family. In this case, net family income is $30,000 and there are three little children in the family – each under six:</p>\n<p><strong>Scenario: Ontario family has three children under 6 and family net income of $30,000</strong></p>\n<table>\n<tbody>\n<tr>\n<td></td>\n<td colspan=\"3\">Both work ($15K each)</td>\n<td colspan=\"3\">One Works ($30K)</td>\n</tr>\n<tr>\n<td></td>\n<td>Old Rules</td>\n<td>New Rules</td>\n<td>Difference</td>\n<td>Old Rules</td>\n<td>New Rules</td>\n<td>Difference</td>\n</tr>\n<tr>\n<td>Earned Income</td>\n<td>$30,000</td>\n<td>$30,000</td>\n<td>$0</td>\n<td>$30,000</td>\n<td>$30,000</td>\n<td>$0</td>\n</tr>\n<tr>\n<td>&#8211; Federal Tax</td>\n<td>1,318</td>\n<td>454</td>\n<td>+864</td>\n<td>1,466</td>\n<td>602</td>\n<td>+864</td>\n</tr>\n<tr>\n<td>&#8211; Provincial Tax</td>\n<td>0</td>\n<td>0</td>\n<td>0</td>\n<td>0</td>\n<td>0</td>\n<td>0</td>\n</tr>\n<tr>\n<td>= Net After Tax</td>\n<td>$28,682</td>\n<td>$29,546</td>\n<td>+$864</td>\n<td>$28,534</td>\n<td>$29,398</td>\n<td>+$864</td>\n</tr>\n<tr>\n<td>+ UCCB</td>\n<td>5,760</td>\n<td>0</td>\n<td>-5,760</td>\n<td>5,760</td>\n<td>0</td>\n<td>-5,760</td>\n</tr>\n<tr>\n<td>+ CTB</td>\n<td>9,656</td>\n<td>19,200</td>\n<td>+9,544</td>\n<td>9,656</td>\n<td>19,200</td>\n<td>+9,544</td>\n</tr>\n<tr>\n<td>+ GSTC</td>\n<td>987</td>\n<td>987</td>\n<td>0</td>\n<td>987</td>\n<td>987</td>\n<td>0</td>\n</tr>\n<tr>\n<td>+ Prov CTB</td>\n<td>3,324</td>\n<td>3,324</td>\n<td>0</td>\n<td>3,324</td>\n<td>3,324</td>\n<td>0</td>\n</tr>\n<tr>\n<td>= Total Income</td>\n<td>$48,409</td>\n<td>$53,057</td>\n<td>+$4,648</td>\n<td>$48,261</td>\n<td>$52,909</td>\n<td>+$4,648</td>\n</tr>\n<tr>\n<td>Monthly Income</td>\n<td>$4,034</td>\n<td>$4,421</td>\n<td>+$387</td>\n<td>$4,022</td>\n<td>$4,409</td>\n<td>+$387</td>\n</tr>\n</tbody>\n</table>\n<p><em>Source: Knowledge Bureau, Inc.</em></p>\n<p><strong>Conclusions:</strong></p>\n<ul>\n<li>Under the new rules a low-income family with three children will be better off by almost $400 per month.</li>\n<li>This family has after-tax income of $4,409 per month.</li>\n<li>Whether single-earner or two working spouses makes little difference.</li>\n<li>The tax system added 75% to earned income under the new rules with one earner.</li>\n</ul>\n<h3>Higher Income Earners</h3>\n<p>Now let’s take a look at the amount of <strong>Canada Child Benefit</strong> receivable and resulting marginal tax rates at higher income levels. The scenario is the following: Ontario family has three children under 6 and various family net income levels below.  But in this case one spouse is working. First let’s take a look at the old rules:</p>\n<p><strong>Table 1: Old Rules</strong></p>\n<table>\n<tbody>\n<tr>\n<td width=\"71\">Income</td>\n<td width=\"68\">Income Tax</td>\n<td width=\"67\">UCCB</td>\n<td width=\"67\">CTB</td>\n<td width=\"65\">GSTC</td>\n<td width=\"71\">After Tax</td>\n<td width=\"59\">Effective Tax Rate</td>\n</tr>\n<tr>\n<td width=\"71\">$30,000</td>\n<td width=\"68\">$1,466</td>\n<td width=\"67\">$5,760</td>\n<td width=\"67\">$9,656</td>\n<td width=\"65\">$987</td>\n<td width=\"71\">$44,937</td>\n<td width=\"59\">-50%</td>\n</tr>\n<tr>\n<td width=\"71\">$40,000</td>\n<td width=\"68\">3,406</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">6,140</td>\n<td width=\"65\">652</td>\n<td width=\"71\">$49,146</td>\n<td width=\"59\">-23%</td>\n</tr>\n<tr>\n<td width=\"71\">$50,000</td>\n<td width=\"68\">6,101</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">4,385</td>\n<td width=\"65\">152</td>\n<td width=\"71\">$54,196</td>\n<td width=\"59\">-8%</td>\n</tr>\n<tr>\n<td width=\"71\">$60,000</td>\n<td width=\"68\">9,165</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">3,985</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$60,580</td>\n<td width=\"59\">-1%</td>\n</tr>\n<tr>\n<td width=\"71\">$70,000</td>\n<td width=\"68\">12,280</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">3,585</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$67,065</td>\n<td width=\"59\">+4%</td>\n</tr>\n<tr>\n<td width=\"71\">$80,000</td>\n<td width=\"68\">15,549</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">3,185</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$73,396</td>\n<td width=\"59\">+8%</td>\n</tr>\n<tr>\n<td width=\"71\">$90,000</td>\n<td width=\"68\">19,014</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">2,785</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$79,531</td>\n<td width=\"59\">+12%</td>\n</tr>\n<tr>\n<td width=\"71\">$100,000</td>\n<td width=\"68\">23,268</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">2,385</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$84,877</td>\n<td width=\"59\">+15%</td>\n</tr>\n<tr>\n<td width=\"71\">$110,000</td>\n<td width=\"68\">27,609</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">1,985</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$90,136</td>\n<td width=\"59\">+18%</td>\n</tr>\n<tr>\n<td width=\"71\">$120,000</td>\n<td width=\"68\">31,949</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">1,585</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$95,396</td>\n<td width=\"59\">+21%</td>\n</tr>\n<tr>\n<td width=\"71\">$130,000</td>\n<td width=\"68\">36,291</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">1,185</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$100,654</td>\n<td width=\"59\">+23%</td>\n</tr>\n<tr>\n<td width=\"71\">$140,000</td>\n<td width=\"68\">40,632</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">785</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$105,913</td>\n<td width=\"59\">+24%</td>\n</tr>\n<tr>\n<td width=\"71\">$150,000</td>\n<td width=\"68\">45,261</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">385</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$110,884</td>\n<td width=\"59\">+26%</td>\n</tr>\n<tr>\n<td width=\"71\">$160,000</td>\n<td width=\"68\">50,058</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">0</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$115,702</td>\n<td width=\"59\">+28%</td>\n</tr>\n</tbody>\n</table>\n<p><em>©2016 Knowledge Bureau, Inc.  All Rights Reserved.</em></p>\n<p>Note that negative figures represent an excess of benefits received over taxes payable. Below, we take a look at what happens under the new rules with our three-child family. We note taxes payable are netted out with eligible refundable tax credits, and compare the results to the old rules.</p>\n<p><strong>Table 2: New Rules</strong></p>\n<table>\n<tbody>\n<tr>\n<td width=\"67\">Income</td>\n<td width=\"50\">Income Tax</td>\n<td width=\"35\">UCCB</td>\n<td width=\"43\">CCB</td>\n<td width=\"43\">GSTC</td>\n<td width=\"57\">Net Tax</td>\n<td width=\"47\">Effective Tax Rate</td>\n<td width=\"59\">Difference</td>\n<td width=\"29\">% Diff</td>\n<td width=\"46\">MTR</td>\n</tr>\n<tr>\n<td width=\"67\">$30,000</td>\n<td width=\"50\">$602</td>\n<td width=\"35\">$0</td>\n<td width=\"43\">$19,200</td>\n<td width=\"43\">$987</td>\n<td width=\"57\">$49,585</td>\n<td width=\"47\">-65%</td>\n<td width=\"59\">$4,648</td>\n<td width=\"29\">15%</td>\n<td width=\"46\">15%</td>\n</tr>\n<tr>\n<td width=\"67\">$40,000</td>\n<td width=\"50\">3,406</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$17,300</td>\n<td width=\"43\">652</td>\n<td width=\"57\">$54,546</td>\n<td width=\"47\">-36%</td>\n<td width=\"59\">$5,400</td>\n<td width=\"29\">14%</td>\n<td width=\"46\">43.15%</td>\n</tr>\n<tr>\n<td width=\"67\">$50,000</td>\n<td width=\"50\">6,030</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$15,400</td>\n<td width=\"43\">152</td>\n<td width=\"57\">$59,522</td>\n<td width=\"47\">-19%</td>\n<td width=\"59\">$5,326</td>\n<td width=\"29\">11%</td>\n<td width=\"46\">48.65%</td>\n</tr>\n<tr>\n<td width=\"67\">$60,000</td>\n<td width=\"50\">8,944</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$13,500</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$64,556</td>\n<td width=\"47\">-8%</td>\n<td width=\"59\">$3,976</td>\n<td width=\"29\">7%</td>\n<td width=\"46\">48.65%</td>\n</tr>\n<tr>\n<td width=\"67\">$70,000</td>\n<td width=\"50\">11,909</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$12,150</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$70,241</td>\n<td width=\"47\">0%</td>\n<td width=\"59\">$3,176</td>\n<td width=\"29\">5%</td>\n<td width=\"46\">37.15%</td>\n</tr>\n<tr>\n<td width=\"67\">$80,000</td>\n<td width=\"50\">15,028</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$11,350</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$76,322</td>\n<td width=\"47\">5%</td>\n<td width=\"59\">$2,926</td>\n<td width=\"29\">4%</td>\n<td width=\"46\">39.48%</td>\n</tr>\n<tr>\n<td width=\"67\">$90,000</td>\n<td width=\"50\">18,343</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$10,550</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$82,207</td>\n<td width=\"47\">9%</td>\n<td width=\"59\">$2,676</td>\n<td width=\"29\">3%</td>\n<td width=\"46\">45.91%</td>\n</tr>\n<tr>\n<td width=\"67\">$100,000</td>\n<td width=\"50\">22,588</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$9,750</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$87,162</td>\n<td width=\"47\">13%</td>\n<td width=\"59\">$2,285</td>\n<td width=\"29\">2%</td>\n<td width=\"46\">51.41%</td>\n</tr>\n<tr>\n<td width=\"67\">$110,000</td>\n<td width=\"50\">26,929</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$8,950</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$92,021</td>\n<td width=\"47\">16%</td>\n<td width=\"59\">$1,885</td>\n<td width=\"29\">2%</td>\n<td width=\"46\">51.41%</td>\n</tr>\n<tr>\n<td width=\"67\">$120,000</td>\n<td width=\"50\">31,370</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$8,150</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$96,780</td>\n<td width=\"47\">19%</td>\n<td width=\"59\">$1,384</td>\n<td width=\"29\">1%</td>\n<td width=\"46\">51.41%</td>\n</tr>\n<tr>\n<td width=\"67\">$130,000</td>\n<td width=\"50\">35,611</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$7,350</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$101,739</td>\n<td width=\"47\">22%</td>\n<td width=\"59\">$1,085</td>\n<td width=\"29\">1%</td>\n<td width=\"46\">51.41%</td>\n</tr>\n<tr>\n<td width=\"67\">$140,000</td>\n<td width=\"50\">39,952</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$6,550</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$106,598</td>\n<td width=\"47\">24%</td>\n<td width=\"59\">$685</td>\n<td width=\"29\">0%</td>\n<td width=\"46\">51.41%</td>\n</tr>\n<tr>\n<td width=\"67\">$150,000</td>\n<td width=\"50\">44,582</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$5,750</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$111,168</td>\n<td width=\"47\">26%</td>\n<td width=\"59\">$284</td>\n<td width=\"29\">0%</td>\n<td width=\"46\">55.97%</td>\n</tr>\n<tr>\n<td width=\"67\">$160,000</td>\n<td width=\"50\">49,379</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$4,950</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$115,571</td>\n<td width=\"47\">28%</td>\n<td width=\"59\">-$131</td>\n<td width=\"29\">0%</td>\n<td width=\"46\">55.97%</td>\n</tr>\n</tbody>\n</table>\n<p><em>©2016 Knowledge Bureau, Inc.  All Rights Reserved.</em></p>\n<p><strong>Conclusions:</strong></p>\n<ul>\n<li>Family net income can be as high as $70,000 before any net tax is paid (that is, taxes payable less refundable credits received)</li>\n<li>When this family’s income reaches $160,000 it is evident that the UCCB provided more money. In addition the family’s marginal tax rate is quite high, when the clawback of the CCB is taken into account</li>\n<li>However, while high income earners received more benefits under the UCCB regime, the Canada Child Benefit delivers at least some dollars to a broader number of high income families, as illustrated with the high income cut off chart below. In fact, marginal tax rates are over 50% for income levels exceed $100,000 when we take the clawbacks into account. That makes RRSP planning important for families. The deduction of the contribution will help to reduce family net income levels. Child care expense deductions and carry charges on investments are examples of two other deductions that reduce family net income</li>\n</ul>\n<h3>High Income Cut Offs for Canada Child Benefit</h3>\n<p>The following table shows the income level at which the CCB will be eliminated for various families. The full benefit is only received up to family net income of $30,000 but the benefit is available over a surprisingly large income range.</p>\n<table>\n<tbody>\n<tr>\n<td><strong>Ages of Children</strong></td>\n<td><strong>Income Cut-Off</strong></td>\n</tr>\n<tr>\n<td>1 child under 6</td>\n<td>$188,437</td>\n</tr>\n<tr>\n<td>1 child over 6</td>\n<td>$157,187</td>\n</tr>\n<tr>\n<td>2 children, both under 6</td>\n<td>$206,667</td>\n</tr>\n<tr>\n<td>2 children, one under 6</td>\n<td>$189,123</td>\n</tr>\n<tr>\n<td>2 children, both over 5</td>\n<td>$171,579</td>\n</tr>\n<tr>\n<td>3 children all under 6</td>\n<td>$221,875</td>\n</tr>\n<tr>\n<td>3 children, two under 6</td>\n<td>$209,375</td>\n</tr>\n<tr>\n<td>3 children, one under 6</td>\n<td>$196,875</td>\n</tr>\n<tr>\n<td>3 children, all over 5</td>\n<td>$184,375</td>\n</tr>\n<tr>\n<td>4 children, all under 6</td>\n<td>$249,737</td>\n</tr>\n<tr>\n<td>4 children, three under 6</td>\n<td>$239,211</td>\n</tr>\n<tr>\n<td>4 children, two under 6</td>\n<td>$228,684</td>\n</tr>\n<tr>\n<td>4 children, one under 6</td>\n<td>$218,158</td>\n</tr>\n<tr>\n<td>4 children, all over 5</td>\n<td>$207,631</td>\n</tr>\n</tbody>\n</table>\n<h3>Single Child Families</h3>\n<p>In the following scenarios, we take a look at the results under old and new rules that focus on the removal of the UCCB in favour of the CCB and the net results for families at $30,000, $60,000 and $120,000.  In this case, there is only one child.</p>\n<table>\n<tbody>\n<tr>\n<td rowspan=\"2\"><strong>Family </strong></p>\n<p><strong>Income</strong></td>\n<td rowspan=\"2\"><strong>One</strong></p>\n<p><strong>Child</strong></td>\n<td colspan=\"4\"><strong>Old Rules</strong></td>\n<td colspan=\"4\"><strong>New Rules</strong></td>\n<td><strong> </strong></td>\n</tr>\n<tr>\n<td><strong>Income Tax</strong></td>\n<td><strong>CTB</strong></td>\n<td><strong>UCCB</strong></td>\n<td><strong>Net</strong></td>\n<td><strong>Income Tax</strong></td>\n<td><strong>CCB</strong></td>\n<td><strong>UCCB</strong></td>\n<td><strong>Net</strong></td>\n<td><strong>Difference</strong></td>\n</tr>\n<tr>\n<td><strong>$30,000</strong></td>\n<td><strong>&lt;6</strong></td>\n<td>$1,466</td>\n<td>$3,354</td>\n<td>$1,920</td>\n<td>$33,808</td>\n<td>$602</td>\n<td>$6,400</td>\n<td>$   &#8211;</td>\n<td>$35,798</td>\n<td>$1,990</td>\n</tr>\n<tr>\n<td><strong>$30,000</strong></td>\n<td><strong>&gt;5</strong></td>\n<td>$1,466</td>\n<td>$3,354</td>\n<td>$720</td>\n<td>$32,608</td>\n<td>$602</td>\n<td>$5,400</td>\n<td>$   &#8211;</td>\n<td>$34,798</td>\n<td>$2,190</td>\n</tr>\n<tr>\n<td><strong> $60,000 </strong></td>\n<td><strong>&lt;6</strong></td>\n<td>$9,506</td>\n<td>$1,195</td>\n<td>$1,920</td>\n<td>$53,609</td>\n<td>$     8,944</td>\n<td>$   4,300</td>\n<td>$     &#8211;</td>\n<td>$   55,356</td>\n<td>$1,747</td>\n</tr>\n<tr>\n<td><strong> $60,000 </strong></td>\n<td><strong>&gt;5</strong></td>\n<td>$9,273</td>\n<td>$1,195</td>\n<td>$720</td>\n<td>$52,409</td>\n<td>$     8,944</td>\n<td>$   3,300</td>\n<td>$     &#8211;</td>\n<td>$ 54,356</td>\n<td>$1,947</td>\n</tr>\n<tr>\n<td><strong> $120,000 </strong></td>\n<td><strong>&lt;6</strong></td>\n<td>$32,322</td>\n<td>$0</td>\n<td>$1,920</td>\n<td>$89,598</td>\n<td>$ 31,270</td>\n<td>$ 2,190</td>\n<td>$     &#8211;</td>\n<td>$   90,920</td>\n<td>$1,322</td>\n</tr>\n<tr>\n<td><strong> $120,000 </strong></td>\n<td><strong>&gt;5</strong></td>\n<td>$32,058</td>\n<td>$0</td>\n<td>$720</td>\n<td>$88,398</td>\n<td>$ 31,270</td>\n<td>$   1,190</td>\n<td>$     &#8211;</td>\n<td>$   89,920</td>\n<td>$1,522</td>\n</tr>\n</tbody>\n</table>\n<p>Of note is the fact that single-child families are better off with one child under the new rules at either age and across large income ranges. And that’s certainly good news!</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/save/taxes/budget-winners-and-losers-child-benefit/\">The winners and losers of the Canada Child Benefit</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','The winners and losers of the Canada Child Benefit','<p>Our tax expert crunches the numbers </p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/save/taxes/budget-winners-and-losers-child-benefit/\">The winners and losers of the Canada Child Benefit</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','inherit','closed','closed','','1014-revision-v1','','','2016-03-23 06:15:57','2016-03-23 10:15:57','',1014,'http://feedwordpress.radgeek.com/?rev=d4dd6bc7b96ea118cc03ce878c75bedb',0,'revision','',0),(1302,1,'2016-03-22 19:38:52','2016-03-22 23:38:52','<p><a href=\"http://www.moneysense.ca/tag/budget-2016/\" rel=\"attachment wp-att-150316\"><img class=\"alignnone size-full wp-image-150316\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg\" alt=\"Budget 2016 banner V2\" width=\"885\" height=\"300\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-300x102.jpg 300w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-768x260.jpg 768w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-660x224.jpg 660w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg 885w\" sizes=\"(max-width: 885px) 100vw, 885px\" /></a></p>\n<div itemscope=\"itemscope\" itemtype=\"http://schema.org/VideoObject\">\n\n        <meta itemprop=\"duration\" content=\"PT17M48S\" />\n        <meta itemprop=\"description\" content=\"\" />\n    \n    <div style=\"display: none;\"></div>\n\n    <script type=\"text/javascript\" src=\"http://admin.brightcove.com/js/BrightcoveExperiences.js\"></script>\n    <script type=\"text/javascript\" src=\"http://admin.brightcove.com/js/api/SmartPlayerAPI.js\"></script>\n\n    <object id=\"myExperience4812788644001\" class=\"BrightcoveExperience\">\n        <param name=\"bgcolor\" value=\"#FFFFFF\" />\n        <param name=\"width\" value=\"640\" />\n        <param name=\"height\" value=\"360\" />\n        <param name=\"playerID\" value=\"2659807263001\" />\n        <param name=\"playerKey\" value=\"AQ~~,AAAAAyz2WOE~,aVUQ6mHrguBSAk3aprArcQ8EfouzY6bY\" />\n        <param name=\"isVid\" value=\"true\" />\n        <param name=\"isUI\" value=\"true\" />\n        <param name=\"dynamicStreaming\" value=\"true\" />\n        <param name=\"includeAPI\" value=\"true\" />\n        <param name=\"templateLoadHandler\" value=\"onTemplateLoad\" />\n        <param name=\"templateReadyHandler\" value=\"onTemplateReady\" />\n        <param name=\"@videoPlayer\" value=\"4812788644001\" />\n                <param name=\"adServerURL\" value=\"http://pubads.g.doubleclick.net/gampad/ads?sz=640x360&amp;iu=%2F7326%2Frogers.publishing%2Fmoneysense.CPGBusiness%2Fvideos&amp;ciu_szs=728x90%2C300x250&amp;impl=s&amp;gdfp_req=1&amp;env=vp&amp;output=xml_vast2&amp;ad_rule=1&amp;unviewed_position_start=1&amp;cmsid=1464\" />\n                <param name=\"linkBaseURL\" value=\"http://www.moneysense.ca/news/3-ways-the-federal-budget-will-affect-investors/\" />\n        <param name=\"autoStart\" value=\"false\" />\n        <param name=\"wmode\" value=\"transparent\" />\n    </object>\n\n</div>\n\n<script type=\"text/javascript\">\n    brightcove.createExperiences();\n</script>\n\n<p>For the first time in Canadian history, there are more seniors over the age of 65 than there are children under the age of 15. What this means is that, over time, there will be fewer Canadians working to support the overall population. Seniors issues are only going to grow in importance.</p>\n<p>With that in mind, let&#8217;s dig into what happened in this budget related to seniors. Some of it we already knew, some of it adds up to real change and some omissions are worth noting.</p>\n<p><strong>Live chat:</strong> <a href=\"http://www.moneysense.ca/news/live-chat-your-federal-budget-questions-answered/\">Have questions? Tune in to our live chat &amp; our experts will answer</a></p>\n<h3><strong>The OAS reversal</strong></h3>\n<p>As already announced, the eligibility ages of the Old Age Security program will be restored. Budget 2016 proposes to cancel the provisions in the Old Age Security Act that would have increased the age of eligibility for OAS and Guaranteed Income Supplement benefits from 65 to 67 and Allowance benefits from 60 to 62 over the 2023 to 2029 period.</p>\n<p>Restoring the eligibility age for OAS and GIS benefits to 65 will put thousands of dollars back in the pockets of Canadians as they become seniors. These benefits are an important part of the retirement income of Canadians, particularly for lower-income seniors.</p>\n<p>Vulnerable seniors depend on this support, and without it, face a much higher risk of living in poverty.</p>\n<p>This announcement by the government is basically undoing something that wasn’t due to happen until 2023. The former government put it in place and the current government took it away. Aside from adding some bureaucratic paperwork, no one was impacted by this, although it was certainly hanging over the heads of investors and their planners. Most of them will be thrilled by this reversal, even if they have to amend their financial plans to reflect this.</p>\n<h3><strong>Guaranteed Income Supplement</strong></h3>\n<p>In Canada, the retirement income system has been successful in reducing the incidence of poverty among Canadian seniors due mainly to Canada Pension Plan (CPP) and OAS. However, of those who do struggle to make ends meet in retirement, single seniors are hardest hit. They are nearly three times more likely to live in low income than seniors generally. For that reason, the federal budget offers an increase to the GIS.</p>\n<p>The federal budget promises to top up this monthly non-taxable benefit for low-income OAS recipients, by up to $947 annually, improving the financial security of about 900,000 seniors across Canada. It doubles the current maximum GIS top-up and represents a 10% increase in the total GIS benefits available to the lowest-income single seniors. A few other key facts about the supplement increase:</p>\n<ul>\n<li>It represents an investment of over $670 million per year</li>\n<li>The graduated benefits are based on income threshold of $4,600</li>\n<li>The benefits will be phased out at income of $8,400 or more</li>\n<li>Going forward, they will be calculated based on individual (not combined) incomes</li>\n</ul>\n<p>That last point is especially meaningful to senior couples who have to live apart for reasons beyond their control and who will see an even greater increase in their GIS benefits. This enhancement will help to defer the higher costs of living of maintaining two residences and reduce the risk of increased poverty.</p>\n<p>This proposed increase supports those seniors who rely almost exclusively on OAS and GIS benefits and may therefore be at risk of experiencing financial difficulties. It allows low-income single seniors more freedom of choice with their finances, while knowing they will receive a guaranteed monthly benefit that will increase with inflation over time.</p>\n<p>However, Statistics Canada has indicated that the Low Income Measure (LIM) for a single senior is $22,000 per year so there is still more work to be done on this in order to bring these 900,000 low income seniors to a reasonable, liveable income.</p>\n<p>Here are a few scenarios that illustrate the impact of the changes:</p>\n<ul>\n<li><em>Lynn is a 74-year-old resident of Montréal, Quebec, who lives alone. With no income apart from OAS and GIS benefits, she struggles to make ends meet. The increase in the GIS top-up benefit for single seniors proposed in Budget 2016 will provide Lynn with an additional $947 per year.</em></li>\n</ul>\n<ul>\n<li><em>Charles is a 68-year-old widower residing in Edmonton, Alberta. Charles receives annual CPP benefits of $5,000 along with OAS and GIS benefits. The increase in the GIS top-up benefit for single seniors proposed in Budget 2016 will provide Charles with an additional $848 per year.  </em></li>\n</ul>\n<ul>\n<li><em>Heather and David have been married for 40 years. David, age 77, receives annual CPP benefits of $3,000 and OAS and GIS bene</em><em>fits of over $12,500. Heather, age 62, has annual earnings from her part-time job of $6,000 and receives over $5,800 </em><em>in Allowance benefits. Taken together, the OAS program provides Heather and David with over $18,300 in annual income support. </em><em>David requires long-term care and Heather and David must live apart. Budget 2016 proposes to allow David and Heather to receive their GIS</em><em> and Allowance benefits based on their individual incomes, recognizing the higher costs of living that Heather and David would face </em><em>living apart. As a result of the proposed change, David would receive over $14,300 in OAS and GIS benefits. Heather would receive about $8,300 in Allowance benefits. Taken together, the OAS</em><em> program would provide annual income support of about $22,600, an increase of more than $4,000 from current levels.</em></li>\n</ul>\n<h3><strong>Affordable housing for seniors</strong></h3>\n<p>Canada’s senior population is growing, and many seniors now find it difficult to afford housing that is suitable, or that allows them to easily stay in their homes as long as possible.</p>\n<p>Budget 2016 proposes to provide $200.7 million over two years, starting in 2016–17, to support the construction, repair and adaption of affordable housing for seniors. While funding will be provided under the Investment in Affordable Housing initiative, provinces and territories will not be required to cost-match these investments. This investment is expected to help improve housing conditions for more than 5,000 low-income senior households.</p>\n<p>This initiative helps seniors to age at home which is exactly what the majority of seniors prefer but with many seniors still living in the own homes, this program will need to be more fulsome and last longer than two years to offset the impending lack of affordable and accessible housing for this demographic. The provinces and territories will need to step up with their investments to augment this new federal funding.</p>\n<p>Seniors will also be interested to know that there are commitments to improve client services at the Canada Revenue Agency. The CRA will reduce their telephone wait times, new and more easily understood correspondence, and more liaison with local volunteer groups that provide help to low income Canadians with their tax returns.  This is a welcome announcement from the CRA.</p>\n<h3><strong>What’s missing from the budget?</strong></h3>\n<p>Seniors’ groups have been asking for a national pharmacare program to ensure cross-Canada price equity and availability, extended compassionate leave and a national caregivers program, as well as a national home care strategy to allow seniors to age with dignity in their homes. So, while we&#8217;re a little further down the path–there is more room to go.</p>\n<hr />\n<p><a href=\"http://www.moneysenseapproved.com/findanadvisor/\"><img class=\"alignleft wp-image-118650\" src=\"http://www.moneysense.ca/wp-content/uploads/2015/05/Screen-Shot-2015-04-30-at-4.48.05-PM.png\" alt=\"MoneySense Approved\" width=\"250\" height=\"178\" /></a><a href=\"http://www.moneysenseapproved.com/findanadvisor/\">Find the advisor who&#8217;s right for you</a></p>\n<p>Let us match you with a trusted financial advisor who has the skills, training and approach to money &amp; investing that you need.</p>\n<p><a href=\"http://www.moneysenseapproved.com/findanadvisor/\">Try our search tool now!</a></p>\n<hr />\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/save/retirement/what-the-federal-budget-means-for-seniors/\">What the budget means for seniors</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','What the budget means for seniors','<p>A closer look at changes to OAS, GIS and spending on seniors housing</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/save/retirement/what-the-federal-budget-means-for-seniors/\">What the budget means for seniors</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','inherit','closed','closed','','1038-revision-v1','','','2016-03-22 19:38:52','2016-03-22 23:38:52','',1038,'http://feedwordpress.radgeek.com/?rev=f8dc8d95660dde8c7fcaa8dbaa9ee921',0,'revision','',0),(1303,1,'2016-01-28 14:00:01','2016-01-28 14:00:01','MotoMan heads to Key West, Florida to drive the first Buick convertible in 25 years, the 2016 Buick Cascada. In this TECH REVIEW, he points out its Opel heritage and details some of the 600 changes between the Buick Cascada and the Opel Cascada as well as some of the bits pioneered by Adam Opel AG in Russelsheim, Germany . . .\n\nMotoMan. Ordinary Car Guy. Extraordinary Adventures\n\nTWICE A WEEK, MotoMan you on car guy adventures like going behind the scenes and hands on at factories, design studios and race tracks to unique driving experiences – everything from the latest cars to military prototype vehicles.\n\nEACH MONTH, MotoMan has an informal discussion with the key people shaping the car industry in front of a live studio &amp; Internet streamed audience. Connect with us via Facebook &amp; Twitter for a full schedule: \n\nSubscribe now to experience our adventures in the car world.\nhttp://www.youtube.com/subscription_center?add_user=motomantv\n\nDownload our MotoManTV App!\n\niTunes/iOS: https://itunes.apple.com/us/app/motomantv/id1049061634?mt=8\n\nGoogle Play/Android: https://play.google.com/store/apps/details?id=com.openpath.motoman&amp;hl=en\n\nCheck out our Buick Playlist:\nhttps://www.youtube.com/playlist?list=PLF6ek7dWy48oN4PH0Uklm9nekCbsw_qmz\n\nFacebook - http://www.facebook.com/MotoManTV\nTwitter - http://twitter.com/MotoManTV\nInstagram – http://instagram.com/motomantv\n\nWebsite - http://www.MotoMan.TV\n\nNEW MUSIC including Son of a Rocket and Raw by Kevin MacLeod/incompetech.com &amp; Jahzzar','2016 Buick Cascada TURBO Convertible TECH REVIEW (1 of 2)','','publish','open','open','','2016-buick-cascada-turbo-convertible-tech-review-1-of-2','','','2016-01-28 14:00:01','2016-01-28 14:00:01','',0,'http://www.l2ocredit.com/2016/01/28/2016-buick-cascada-turbo-convertible-tech-review-1-of-2/',0,'post','',0),(1304,0,'2016-03-23 14:57:25','2016-03-23 18:57:25','','2016 Buick Cascada TURBO Convertible TECH REVIEW (1 of 2)','','inherit','open','closed','','2016-buick-cascada-turbo-convertible-tech-review-1-of-2-2','','','2016-03-23 14:57:25','2016-03-23 18:57:25','',1303,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-buick-cascada-turbo-convertible-tech-review-1-of-2-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(1305,0,'2016-03-23 14:57:25','2016-03-23 18:57:25','','2016 Buick Cascada TURBO Convertible TECH REVIEW (1 of 2)','','inherit','open','closed','','2016-buick-cascada-turbo-convertible-tech-review-1-of-2-2','','','2016-03-23 14:57:25','2016-03-23 18:57:25','',1303,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-buick-cascada-turbo-convertible-tech-review-1-of-2-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(1306,0,'2016-03-23 14:57:25','2016-03-23 18:57:25','','2016 Buick Cascada TURBO Convertible TECH REVIEW (1 of 2)','','inherit','open','closed','','2016-buick-cascada-turbo-convertible-tech-review-1-of-2-3','','','2016-03-23 14:57:25','2016-03-23 18:57:25','',1303,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-buick-cascada-turbo-convertible-tech-review-1-of-2-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(1307,1,'2016-01-26 11:06:32','2016-01-26 11:06:32','More videos: http://goo.gl/Kj1FlI\nBest cars in 2016: http://goo.gl/3xAVJi\nUpcoming reviews: http://goo.gl/pLtP6U\nAOA on Facebook: http://goo.gl/a47Cu1\n\nThe Mountain Garden: http://goo.gl/icFWcd','2016 Nissan Sentra First Drive Review - In 4K UHD!','','publish','open','open','','2016-nissan-sentra-first-drive-review-in-4k-uhd','','','2016-01-26 11:06:32','2016-01-26 11:06:32','',0,'http://www.l2ocredit.com/2016/01/26/2016-nissan-sentra-first-drive-review-in-4k-uhd/',0,'post','',0),(1308,0,'2016-03-23 15:24:56','2016-03-23 19:24:56','','2016 Nissan Sentra First Drive Review &#8211; In 4K UHD!','','inherit','open','closed','','2016-nissan-sentra-first-drive-review-in-4k-uhd-2','','','2016-03-23 15:24:56','2016-03-23 19:24:56','',1307,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-nissan-sentra-first-drive-review-in-4k-uhd-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(1309,0,'2016-03-23 15:24:57','2016-03-23 19:24:57','','2016 Nissan Sentra First Drive Review &#8211; In 4K UHD!','','inherit','open','closed','','2016-nissan-sentra-first-drive-review-in-4k-uhd-3','','','2016-03-23 15:24:57','2016-03-23 19:24:57','',1307,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-nissan-sentra-first-drive-review-in-4k-uhd-youtube-thumbnail-2.jpg',0,'attachment','image/jpeg',0),(1310,0,'2016-03-23 15:24:57','2016-03-23 19:24:57','','2016 Nissan Sentra First Drive Review &#8211; In 4K UHD!','','inherit','open','closed','','2016-nissan-sentra-first-drive-review-in-4k-uhd-3','','','2016-03-23 15:24:57','2016-03-23 19:24:57','',1307,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-nissan-sentra-first-drive-review-in-4k-uhd-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(1311,1,'2016-03-23 06:15:57','2016-03-23 10:15:57','<p><a href=\"http://www.moneysense.ca/tag/budget-2016/\" rel=\"attachment wp-att-150316\"><img class=\"alignnone size-full wp-image-150316\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg\" alt=\"Budget 2016 banner V2\" width=\"885\" height=\"300\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-300x102.jpg 300w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-768x260.jpg 768w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-660x224.jpg 660w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg 885w\" sizes=\"(max-width: 885px) 100vw, 885px\" /></a></p>\n<div itemscope=\"itemscope\" itemtype=\"http://schema.org/VideoObject\">\n\n        <meta itemprop=\"duration\" content=\"PT17M48S\" />\n        <meta itemprop=\"thumbnailUrl\" content=\"http://newsandbusiness.rogersdigitalmedia.com.edgesuite.net/bcassets/13639244001/13639244001_4813100169001_thumbnail-for-video-4812788644001.jpg?pubId=13639244001\" />\n        <meta itemprop=\"name\" content=\"Budget 2016: MoneySense experts comment\" />\n        <meta itemprop=\"description\" content=\"MoneySense&#039;s Romana King, MoneyCoaches Canada&#039;s Janet Gray and Knowledge Bureau&#039;s Evelyn Jacks discuss the ramificiations of Budget 2016 for average Canadians.\" />\n        <meta itemprop=\"uploadDate\" content=\"2016-03-22T21:57:49+00:00\" />\n    \n    <div style=\"display: none;\"></div>\n\n    <script type=\"text/javascript\" src=\"http://admin.brightcove.com/js/BrightcoveExperiences.js\"></script>\n    <script type=\"text/javascript\" src=\"http://admin.brightcove.com/js/api/SmartPlayerAPI.js\"></script>\n\n    <object id=\"myExperience4812788644001\" class=\"BrightcoveExperience\">\n        <param name=\"bgcolor\" value=\"#FFFFFF\" />\n        <param name=\"width\" value=\"640\" />\n        <param name=\"height\" value=\"360\" />\n        <param name=\"playerID\" value=\"2659807263001\" />\n        <param name=\"playerKey\" value=\"AQ~~,AAAAAyz2WOE~,aVUQ6mHrguBSAk3aprArcQ8EfouzY6bY\" />\n        <param name=\"isVid\" value=\"true\" />\n        <param name=\"isUI\" value=\"true\" />\n        <param name=\"dynamicStreaming\" value=\"true\" />\n        <param name=\"includeAPI\" value=\"true\" />\n        <param name=\"templateLoadHandler\" value=\"onTemplateLoad\" />\n        <param name=\"templateReadyHandler\" value=\"onTemplateReady\" />\n        <param name=\"@videoPlayer\" value=\"4812788644001\" />\n                <param name=\"adServerURL\" value=\"http://pubads.g.doubleclick.net/gampad/ads?sz=640x360&amp;iu=%2F7326%2Frogers.publishing%2Fmoneysense.CPGBusiness%2Fvideos&amp;ciu_szs=728x90%2C300x250&amp;impl=s&amp;gdfp_req=1&amp;env=vp&amp;output=xml_vast2&amp;ad_rule=1&amp;unviewed_position_start=1&amp;cmsid=1464\" />\n                <param name=\"linkBaseURL\" value=\"http://www.moneysense.ca/news/how-the-federal-budget-will-affect-families/\" />\n        <param name=\"autoStart\" value=\"false\" />\n        <param name=\"wmode\" value=\"transparent\" />\n    </object>\n\n</div>\n\n<script type=\"text/javascript\">\n    brightcove.createExperiences();\n</script>\n\n<p>The federal budget made some important tax changes for families.  The good news is that the much rumoured increase to the capital gains inclusions rate did not come to fruition in this budget,  and the anticipated changes to stock option benefits have been deferred for now. But if you’ve invested in corporate class mutual funds, you&#8217;ll want to do any switching between funds on a tax-free basis now until September as that special tax-free treatment will disappear.</p>\n<p>Charities will also wince at the cancellation of a provision expected to begin in 2017, introduced in the last budget. That is, the donation of sales proceeds from a qualifying private corporate or real estate dispositions will no longer qualify for a capital gains exemption if proceeds are donated to charity.</p>\n<p><strong>Live chat:</strong> <a href=\"http://www.moneysense.ca/news/live-chat-your-federal-budget-questions-answered/\">Have questions? Tune in to our live chat and our experts will answer</a></p>\n<p><strong>Tool:</strong> <a href=\"http://www.budget.gc.ca/2016/tool-outil/ccb-ace-en.html\" >Finance Canada has a nifty calculator that determines your benefits</a></p>\n<p>Families will be happy with the introduction of the <strong>Canada Child Benefit (CCB)</strong>, which is a refundable credit based on family net income. Specifically, the new CCB provides a maximum benefit of $6400 per child under age of six and $5400 per child age six to 17.</p>\n<p>How much you get is based on 2015 family net income, which is determined on the tax return (2015) currently being filed.  So be sure to dig for every deduction that reduces your net income on Line 236.  Also, a tip for the future:  RRSP planning for families is extremely important as clawback zones can bring marginal tax rates well over 50% in some cases:</p>\n<table>\n<tbody>\n<tr>\n<td></td>\n<td colspan=\"2\">Current Clawback Rules</td>\n</tr>\n<tr>\n<td>Income</td>\n<td>MTR(tax)</td>\n<td>MTR with clawbacks</td>\n</tr>\n<tr>\n<td>$30,000</td>\n<td>20.05%</td>\n<td>20.05%</td>\n</tr>\n<tr>\n<td>$40,000</td>\n<td>20.05%</td>\n<td>40.10%</td>\n</tr>\n<tr>\n<td><strong>$50,000</strong></td>\n<td><strong>29.65%</strong></td>\n<td><strong>51.15%</strong></td>\n</tr>\n<tr>\n<td><strong>$60,000</strong></td>\n<td><strong>29.65%</strong></td>\n<td><strong>51.15%</strong></td>\n</tr>\n<tr>\n<td><strong>$70,000</strong></td>\n<td><strong>29.65%</strong></td>\n<td><strong>51.15%</strong></td>\n</tr>\n<tr>\n<td><strong>$80,000</strong></td>\n<td><strong>31.48%</strong></td>\n<td><strong>72.48%</strong></td>\n</tr>\n<tr>\n<td><strong>$90,000</strong></td>\n<td><strong>37.91%</strong></td>\n<td><strong>58.41%</strong></td>\n</tr>\n<tr>\n<td><strong>$100,000</strong></td>\n<td><strong>43.41%</strong></td>\n<td><strong>63.91%</strong></td>\n</tr>\n<tr>\n<td><strong>$110,000</strong></td>\n<td><strong>43.41%</strong></td>\n<td><strong>63.91%</strong></td>\n</tr>\n<tr>\n<td>$120,000</td>\n<td>43.41%</td>\n<td>43.41%</td>\n</tr>\n<tr>\n<td>$130,000</td>\n<td>43.41%</td>\n<td>43.41%</td>\n</tr>\n<tr>\n<td>$140,000</td>\n<td>43.41%</td>\n<td>43.41%</td>\n</tr>\n<tr>\n<td>$150,000</td>\n<td>46.41%</td>\n<td>46.41%</td>\n</tr>\n<tr>\n<td>$160,000</td>\n<td>47.97%</td>\n<td>47.97%</td>\n</tr>\n<tr>\n<td>$170,000</td>\n<td>47.97%</td>\n<td>47.97%</td>\n</tr>\n<tr>\n<td>$180,000</td>\n<td>47.97%</td>\n<td>47.97%</td>\n</tr>\n<tr>\n<td>$190,000</td>\n<td>47.97%</td>\n<td>47.97%</td>\n</tr>\n<tr>\n<td>$200,000</td>\n<td>47.97%</td>\n<td>47.97%</td>\n</tr>\n<tr>\n<td><strong>$210,000</strong></td>\n<td><strong>51.97%</strong></td>\n<td><strong>51.97%</strong></td>\n</tr>\n<tr>\n<td><strong>$220,000</strong></td>\n<td><strong>51.97%</strong></td>\n<td><strong>51.97%</strong></td>\n</tr>\n<tr>\n<td><strong>$220,000+</strong></td>\n<td><strong>53.53%</strong></td>\n<td><strong>53.53%</strong></td>\n</tr>\n</tbody>\n</table>\n<p>Do refugees get the benefits?  Foreign-born individuals who are Indians and not Canadian citizens and permanent residents under the Immigration and Refugee Protection Act may legally reside in Canada and receive the CCB. A new limitation is being introduced with regard to eligibility for retroactive payments. Currently individuals may apply for CCTB and Universal Child Care Benefit (UCCB) as far back as the introduction of the programs. Income-tax based credits, however, are limited to a 10-year limitation. Retroactive application of UCCB and CTB will align after 2016, to the 10-year limitation.</p>\n<p>Unfortunately, there is no non-refundable tax credit for minor children for those who do not qualify for the income-tested benefits. This was removed when the previous government introduced the UCCB enhancements and the Family Tax Cut.</p>\n<p>Other non-refundable tax credits will be removed as well:  the education/textbook amounts will disappear, as will the refundable children’s fitness credit.</p>\n<p><strong>Read:</strong> <a href=\"http://www.macleans.ca/politics/ottawa/child-care-benefit-as-promised/\" >Is the Canada Child Benefit fair?</a></p>\n<h3><strong>The Canada Child Benefit: See how it affects you </strong></h3>\n<p>The changes the Liberal government has introduced for families has varying result, depending on family net income, how many children the family has, and whether they are under six or six to 17. We did some calculations at Knowledge Bureau to see how families fare in 2016.</p>\n<p>The key learnings are that while middle-income families are generously rewarded with the combination of tax rate reductions and enhanced refundable tax credits, but their marginal tax rates increase significantly as incomes rise to an upper middle class range:  50% for income levels between $70,000 and $80,000 and over<strong> 67% </strong>for income levels between $90,000 and $120,000.<strong> </strong>This makes RRSP planning a must for those families in order to reduce family net income below the $70,000 threshold.</p>\n<p>Let’s look now at the effects of the changes on a low-income family. In this case, net family income is $30,000 and there are three little children in the family – each under six:</p>\n<p><strong>Scenario: Ontario family has three children under 6 and family net income of $30,000</strong></p>\n<table>\n<tbody>\n<tr>\n<td></td>\n<td colspan=\"3\">Both work ($15K each)</td>\n<td colspan=\"3\">One Works ($30K)</td>\n</tr>\n<tr>\n<td></td>\n<td>Old Rules</td>\n<td>New Rules</td>\n<td>Difference</td>\n<td>Old Rules</td>\n<td>New Rules</td>\n<td>Difference</td>\n</tr>\n<tr>\n<td>Earned Income</td>\n<td>$30,000</td>\n<td>$30,000</td>\n<td>$0</td>\n<td>$30,000</td>\n<td>$30,000</td>\n<td>$0</td>\n</tr>\n<tr>\n<td>&#8211; Federal Tax</td>\n<td>1,318</td>\n<td>454</td>\n<td>+864</td>\n<td>1,466</td>\n<td>602</td>\n<td>+864</td>\n</tr>\n<tr>\n<td>&#8211; Provincial Tax</td>\n<td>0</td>\n<td>0</td>\n<td>0</td>\n<td>0</td>\n<td>0</td>\n<td>0</td>\n</tr>\n<tr>\n<td>= Net After Tax</td>\n<td>$28,682</td>\n<td>$29,546</td>\n<td>+$864</td>\n<td>$28,534</td>\n<td>$29,398</td>\n<td>+$864</td>\n</tr>\n<tr>\n<td>+ UCCB</td>\n<td>5,760</td>\n<td>0</td>\n<td>-5,760</td>\n<td>5,760</td>\n<td>0</td>\n<td>-5,760</td>\n</tr>\n<tr>\n<td>+ CTB</td>\n<td>9,656</td>\n<td>19,200</td>\n<td>+9,544</td>\n<td>9,656</td>\n<td>19,200</td>\n<td>+9,544</td>\n</tr>\n<tr>\n<td>+ GSTC</td>\n<td>987</td>\n<td>987</td>\n<td>0</td>\n<td>987</td>\n<td>987</td>\n<td>0</td>\n</tr>\n<tr>\n<td>+ Prov CTB</td>\n<td>3,324</td>\n<td>3,324</td>\n<td>0</td>\n<td>3,324</td>\n<td>3,324</td>\n<td>0</td>\n</tr>\n<tr>\n<td>= Total Income</td>\n<td>$48,409</td>\n<td>$53,057</td>\n<td>+$4,648</td>\n<td>$48,261</td>\n<td>$52,909</td>\n<td>+$4,648</td>\n</tr>\n<tr>\n<td>Monthly Income</td>\n<td>$4,034</td>\n<td>$4,421</td>\n<td>+$387</td>\n<td>$4,022</td>\n<td>$4,409</td>\n<td>+$387</td>\n</tr>\n</tbody>\n</table>\n<p><em>Source: Knowledge Bureau, Inc.</em></p>\n<p><strong>Conclusions:</strong></p>\n<ul>\n<li>Under the new rules a low-income family with three children will be better off by almost $400 per month.</li>\n<li>This family has after-tax income of $4,409 per month.</li>\n<li>Whether single-earner or two working spouses makes little difference.</li>\n<li>The tax system added 75% to earned income under the new rules with one earner.</li>\n</ul>\n<h3>Higher Income Earners</h3>\n<p>Now let’s take a look at the amount of <strong>Canada Child Benefit</strong> receivable and resulting marginal tax rates at higher income levels. The scenario is the following: Ontario family has three children under 6 and various family net income levels below.  But in this case one spouse is working. First let’s take a look at the old rules:</p>\n<p><strong>Table 1: Old Rules</strong></p>\n<table>\n<tbody>\n<tr>\n<td width=\"71\">Income</td>\n<td width=\"68\">Income Tax</td>\n<td width=\"67\">UCCB</td>\n<td width=\"67\">CTB</td>\n<td width=\"65\">GSTC</td>\n<td width=\"71\">After Tax</td>\n<td width=\"59\">Effective Tax Rate</td>\n</tr>\n<tr>\n<td width=\"71\">$30,000</td>\n<td width=\"68\">$1,466</td>\n<td width=\"67\">$5,760</td>\n<td width=\"67\">$9,656</td>\n<td width=\"65\">$987</td>\n<td width=\"71\">$44,937</td>\n<td width=\"59\">-50%</td>\n</tr>\n<tr>\n<td width=\"71\">$40,000</td>\n<td width=\"68\">3,406</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">6,140</td>\n<td width=\"65\">652</td>\n<td width=\"71\">$49,146</td>\n<td width=\"59\">-23%</td>\n</tr>\n<tr>\n<td width=\"71\">$50,000</td>\n<td width=\"68\">6,101</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">4,385</td>\n<td width=\"65\">152</td>\n<td width=\"71\">$54,196</td>\n<td width=\"59\">-8%</td>\n</tr>\n<tr>\n<td width=\"71\">$60,000</td>\n<td width=\"68\">9,165</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">3,985</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$60,580</td>\n<td width=\"59\">-1%</td>\n</tr>\n<tr>\n<td width=\"71\">$70,000</td>\n<td width=\"68\">12,280</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">3,585</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$67,065</td>\n<td width=\"59\">+4%</td>\n</tr>\n<tr>\n<td width=\"71\">$80,000</td>\n<td width=\"68\">15,549</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">3,185</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$73,396</td>\n<td width=\"59\">+8%</td>\n</tr>\n<tr>\n<td width=\"71\">$90,000</td>\n<td width=\"68\">19,014</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">2,785</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$79,531</td>\n<td width=\"59\">+12%</td>\n</tr>\n<tr>\n<td width=\"71\">$100,000</td>\n<td width=\"68\">23,268</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">2,385</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$84,877</td>\n<td width=\"59\">+15%</td>\n</tr>\n<tr>\n<td width=\"71\">$110,000</td>\n<td width=\"68\">27,609</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">1,985</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$90,136</td>\n<td width=\"59\">+18%</td>\n</tr>\n<tr>\n<td width=\"71\">$120,000</td>\n<td width=\"68\">31,949</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">1,585</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$95,396</td>\n<td width=\"59\">+21%</td>\n</tr>\n<tr>\n<td width=\"71\">$130,000</td>\n<td width=\"68\">36,291</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">1,185</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$100,654</td>\n<td width=\"59\">+23%</td>\n</tr>\n<tr>\n<td width=\"71\">$140,000</td>\n<td width=\"68\">40,632</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">785</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$105,913</td>\n<td width=\"59\">+24%</td>\n</tr>\n<tr>\n<td width=\"71\">$150,000</td>\n<td width=\"68\">45,261</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">385</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$110,884</td>\n<td width=\"59\">+26%</td>\n</tr>\n<tr>\n<td width=\"71\">$160,000</td>\n<td width=\"68\">50,058</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">0</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$115,702</td>\n<td width=\"59\">+28%</td>\n</tr>\n</tbody>\n</table>\n<p><em>©2016 Knowledge Bureau, Inc.  All Rights Reserved.</em></p>\n<p>Note that negative figures represent an excess of benefits received over taxes payable. Below, we take a look at what happens under the new rules with our three-child family. We note taxes payable are netted out with eligible refundable tax credits, and compare the results to the old rules.</p>\n<p><strong>Table 2: New Rules</strong></p>\n<table>\n<tbody>\n<tr>\n<td width=\"67\">Income</td>\n<td width=\"50\">Income Tax</td>\n<td width=\"35\">UCCB</td>\n<td width=\"43\">CCB</td>\n<td width=\"43\">GSTC</td>\n<td width=\"57\">Net Tax</td>\n<td width=\"47\">Effective Tax Rate</td>\n<td width=\"59\">Difference</td>\n<td width=\"29\">% Diff</td>\n<td width=\"46\">MTR</td>\n</tr>\n<tr>\n<td width=\"67\">$30,000</td>\n<td width=\"50\">$602</td>\n<td width=\"35\">$0</td>\n<td width=\"43\">$19,200</td>\n<td width=\"43\">$987</td>\n<td width=\"57\">$49,585</td>\n<td width=\"47\">-65%</td>\n<td width=\"59\">$4,648</td>\n<td width=\"29\">15%</td>\n<td width=\"46\">15%</td>\n</tr>\n<tr>\n<td width=\"67\">$40,000</td>\n<td width=\"50\">3,406</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$17,300</td>\n<td width=\"43\">652</td>\n<td width=\"57\">$54,546</td>\n<td width=\"47\">-36%</td>\n<td width=\"59\">$5,400</td>\n<td width=\"29\">14%</td>\n<td width=\"46\">43.15%</td>\n</tr>\n<tr>\n<td width=\"67\">$50,000</td>\n<td width=\"50\">6,030</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$15,400</td>\n<td width=\"43\">152</td>\n<td width=\"57\">$59,522</td>\n<td width=\"47\">-19%</td>\n<td width=\"59\">$5,326</td>\n<td width=\"29\">11%</td>\n<td width=\"46\">48.65%</td>\n</tr>\n<tr>\n<td width=\"67\">$60,000</td>\n<td width=\"50\">8,944</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$13,500</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$64,556</td>\n<td width=\"47\">-8%</td>\n<td width=\"59\">$3,976</td>\n<td width=\"29\">7%</td>\n<td width=\"46\">48.65%</td>\n</tr>\n<tr>\n<td width=\"67\">$70,000</td>\n<td width=\"50\">11,909</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$12,150</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$70,241</td>\n<td width=\"47\">0%</td>\n<td width=\"59\">$3,176</td>\n<td width=\"29\">5%</td>\n<td width=\"46\">37.15%</td>\n</tr>\n<tr>\n<td width=\"67\">$80,000</td>\n<td width=\"50\">15,028</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$11,350</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$76,322</td>\n<td width=\"47\">5%</td>\n<td width=\"59\">$2,926</td>\n<td width=\"29\">4%</td>\n<td width=\"46\">39.48%</td>\n</tr>\n<tr>\n<td width=\"67\">$90,000</td>\n<td width=\"50\">18,343</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$10,550</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$82,207</td>\n<td width=\"47\">9%</td>\n<td width=\"59\">$2,676</td>\n<td width=\"29\">3%</td>\n<td width=\"46\">45.91%</td>\n</tr>\n<tr>\n<td width=\"67\">$100,000</td>\n<td width=\"50\">22,588</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$9,750</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$87,162</td>\n<td width=\"47\">13%</td>\n<td width=\"59\">$2,285</td>\n<td width=\"29\">2%</td>\n<td width=\"46\">51.41%</td>\n</tr>\n<tr>\n<td width=\"67\">$110,000</td>\n<td width=\"50\">26,929</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$8,950</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$92,021</td>\n<td width=\"47\">16%</td>\n<td width=\"59\">$1,885</td>\n<td width=\"29\">2%</td>\n<td width=\"46\">51.41%</td>\n</tr>\n<tr>\n<td width=\"67\">$120,000</td>\n<td width=\"50\">31,370</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$8,150</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$96,780</td>\n<td width=\"47\">19%</td>\n<td width=\"59\">$1,384</td>\n<td width=\"29\">1%</td>\n<td width=\"46\">51.41%</td>\n</tr>\n<tr>\n<td width=\"67\">$130,000</td>\n<td width=\"50\">35,611</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$7,350</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$101,739</td>\n<td width=\"47\">22%</td>\n<td width=\"59\">$1,085</td>\n<td width=\"29\">1%</td>\n<td width=\"46\">51.41%</td>\n</tr>\n<tr>\n<td width=\"67\">$140,000</td>\n<td width=\"50\">39,952</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$6,550</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$106,598</td>\n<td width=\"47\">24%</td>\n<td width=\"59\">$685</td>\n<td width=\"29\">0%</td>\n<td width=\"46\">51.41%</td>\n</tr>\n<tr>\n<td width=\"67\">$150,000</td>\n<td width=\"50\">44,582</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$5,750</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$111,168</td>\n<td width=\"47\">26%</td>\n<td width=\"59\">$284</td>\n<td width=\"29\">0%</td>\n<td width=\"46\">55.97%</td>\n</tr>\n<tr>\n<td width=\"67\">$160,000</td>\n<td width=\"50\">49,379</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$4,950</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$115,571</td>\n<td width=\"47\">28%</td>\n<td width=\"59\">-$131</td>\n<td width=\"29\">0%</td>\n<td width=\"46\">55.97%</td>\n</tr>\n</tbody>\n</table>\n<p><em>©2016 Knowledge Bureau, Inc.  All Rights Reserved.</em></p>\n<p><strong>Conclusions:</strong></p>\n<ul>\n<li>Family net income can be as high as $70,000 before any net tax is paid (that is, taxes payable less refundable credits received)</li>\n<li>When this family’s income reaches $160,000 it is evident that the UCCB provided more money. In addition the family’s marginal tax rate is quite high, when the clawback of the CCB is taken into account</li>\n<li>However, while high income earners received more benefits under the UCCB regime, the Canada Child Benefit delivers at least some dollars to a broader number of high income families, as illustrated with the high income cut off chart below. In fact, marginal tax rates are over 50% for income levels exceed $100,000 when we take the clawbacks into account. That makes RRSP planning important for families. The deduction of the contribution will help to reduce family net income levels. Child care expense deductions and carry charges on investments are examples of two other deductions that reduce family net income</li>\n</ul>\n<h3>High Income Cut Offs for Canada Child Benefit</h3>\n<p>The following table shows the income level at which the CCB will be eliminated for various families. The full benefit is only received up to family net income of $30,000 but the benefit is available over a surprisingly large income range.</p>\n<table>\n<tbody>\n<tr>\n<td><strong>Ages of Children</strong></td>\n<td><strong>Income Cut-Off</strong></td>\n</tr>\n<tr>\n<td>1 child under 6</td>\n<td>$188,437</td>\n</tr>\n<tr>\n<td>1 child over 6</td>\n<td>$157,187</td>\n</tr>\n<tr>\n<td>2 children, both under 6</td>\n<td>$206,667</td>\n</tr>\n<tr>\n<td>2 children, one under 6</td>\n<td>$189,123</td>\n</tr>\n<tr>\n<td>2 children, both over 5</td>\n<td>$171,579</td>\n</tr>\n<tr>\n<td>3 children all under 6</td>\n<td>$221,875</td>\n</tr>\n<tr>\n<td>3 children, two under 6</td>\n<td>$209,375</td>\n</tr>\n<tr>\n<td>3 children, one under 6</td>\n<td>$196,875</td>\n</tr>\n<tr>\n<td>3 children, all over 5</td>\n<td>$184,375</td>\n</tr>\n<tr>\n<td>4 children, all under 6</td>\n<td>$249,737</td>\n</tr>\n<tr>\n<td>4 children, three under 6</td>\n<td>$239,211</td>\n</tr>\n<tr>\n<td>4 children, two under 6</td>\n<td>$228,684</td>\n</tr>\n<tr>\n<td>4 children, one under 6</td>\n<td>$218,158</td>\n</tr>\n<tr>\n<td>4 children, all over 5</td>\n<td>$207,631</td>\n</tr>\n</tbody>\n</table>\n<h3>Single Child Families</h3>\n<p>In the following scenarios, we take a look at the results under old and new rules that focus on the removal of the UCCB in favour of the CCB and the net results for families at $30,000, $60,000 and $120,000.  In this case, there is only one child.</p>\n<table>\n<tbody>\n<tr>\n<td rowspan=\"2\"><strong>Family </strong></p>\n<p><strong>Income</strong></td>\n<td rowspan=\"2\"><strong>One</strong></p>\n<p><strong>Child</strong></td>\n<td colspan=\"4\"><strong>Old Rules</strong></td>\n<td colspan=\"4\"><strong>New Rules</strong></td>\n<td><strong> </strong></td>\n</tr>\n<tr>\n<td><strong>Income Tax</strong></td>\n<td><strong>CTB</strong></td>\n<td><strong>UCCB</strong></td>\n<td><strong>Net</strong></td>\n<td><strong>Income Tax</strong></td>\n<td><strong>CCB</strong></td>\n<td><strong>UCCB</strong></td>\n<td><strong>Net</strong></td>\n<td><strong>Difference</strong></td>\n</tr>\n<tr>\n<td><strong>$30,000</strong></td>\n<td><strong>&lt;6</strong></td>\n<td>$1,466</td>\n<td>$3,354</td>\n<td>$1,920</td>\n<td>$33,808</td>\n<td>$602</td>\n<td>$6,400</td>\n<td>$   &#8211;</td>\n<td>$35,798</td>\n<td>$1,990</td>\n</tr>\n<tr>\n<td><strong>$30,000</strong></td>\n<td><strong>&gt;5</strong></td>\n<td>$1,466</td>\n<td>$3,354</td>\n<td>$720</td>\n<td>$32,608</td>\n<td>$602</td>\n<td>$5,400</td>\n<td>$   &#8211;</td>\n<td>$34,798</td>\n<td>$2,190</td>\n</tr>\n<tr>\n<td><strong> $60,000 </strong></td>\n<td><strong>&lt;6</strong></td>\n<td>$9,506</td>\n<td>$1,195</td>\n<td>$1,920</td>\n<td>$53,609</td>\n<td>$     8,944</td>\n<td>$   4,300</td>\n<td>$     &#8211;</td>\n<td>$   55,356</td>\n<td>$1,747</td>\n</tr>\n<tr>\n<td><strong> $60,000 </strong></td>\n<td><strong>&gt;5</strong></td>\n<td>$9,273</td>\n<td>$1,195</td>\n<td>$720</td>\n<td>$52,409</td>\n<td>$     8,944</td>\n<td>$   3,300</td>\n<td>$     &#8211;</td>\n<td>$ 54,356</td>\n<td>$1,947</td>\n</tr>\n<tr>\n<td><strong> $120,000 </strong></td>\n<td><strong>&lt;6</strong></td>\n<td>$32,322</td>\n<td>$0</td>\n<td>$1,920</td>\n<td>$89,598</td>\n<td>$ 31,270</td>\n<td>$ 2,190</td>\n<td>$     &#8211;</td>\n<td>$   90,920</td>\n<td>$1,322</td>\n</tr>\n<tr>\n<td><strong> $120,000 </strong></td>\n<td><strong>&gt;5</strong></td>\n<td>$32,058</td>\n<td>$0</td>\n<td>$720</td>\n<td>$88,398</td>\n<td>$ 31,270</td>\n<td>$   1,190</td>\n<td>$     &#8211;</td>\n<td>$   89,920</td>\n<td>$1,522</td>\n</tr>\n</tbody>\n</table>\n<p>Of note is the fact that single-child families are better off with one child under the new rules at either age and across large income ranges. And that’s certainly good news!</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/save/taxes/budget-winners-and-losers-child-benefit/\">The winners and losers of the Canada Child Benefit</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','The winners and losers of the Canada Child Benefit','<p>Our tax expert crunches the numbers </p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/save/taxes/budget-winners-and-losers-child-benefit/\">The winners and losers of the Canada Child Benefit</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','inherit','closed','closed','','1014-revision-v1','','','2016-03-23 06:15:57','2016-03-23 10:15:57','',1014,'http://feedwordpress.radgeek.com/?rev=87d926be4cd990b471524d05a1befa8f',0,'revision','',0),(1312,1,'2015-10-14 15:01:02','2015-10-14 15:01:02','With the number of mid-sized crossover choices shrinking, the Ford Edge makes the cut with style sensitive couples.','2015 Ford Edge Sport','','publish','open','open','','2015-ford-edge-sport','','','2015-10-14 15:01:02','2015-10-14 15:01:02','',0,'http://www.l2ocredit.com/2015/10/14/2015-ford-edge-sport/',0,'post','',0),(1313,0,'2016-03-23 16:04:04','2016-03-23 20:04:04','','2015 Ford Edge Sport','','inherit','open','closed','','2015-ford-edge-sport-2','','','2016-03-23 16:04:04','2016-03-23 20:04:04','',1312,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2015-ford-edge-sport-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(1314,0,'2016-03-23 16:04:04','2016-03-23 20:04:04','','2015 Ford Edge Sport','','inherit','open','closed','','2015-ford-edge-sport-2','','','2016-03-23 16:04:04','2016-03-23 20:04:04','',1312,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2015-ford-edge-sport-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(1315,0,'2016-03-23 16:04:04','2016-03-23 20:04:04','','2015 Ford Edge Sport','','inherit','open','closed','','2015-ford-edge-sport-2','','','2016-03-23 16:04:04','2016-03-23 20:04:04','',1312,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2015-ford-edge-sport-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(1316,0,'2016-03-23 16:04:04','2016-03-23 20:04:04','','2015 Ford Edge Sport','','inherit','open','closed','','2015-ford-edge-sport-2','','','2016-03-23 16:04:04','2016-03-23 20:04:04','',1312,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2015-ford-edge-sport-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(1317,1,'2016-01-15 02:11:57','2016-01-15 02:11:57','The Scion iM is a compact hatchback car based on the same platform as the Toyota Corolla sedan. Scion is the youth brand of Toyota and this mainstream hatchback 5-passenger car is trying to appeal to a wider market of compact car buyers. Sold with only one trim level, the buyer only needs to decide between manual or automatic transmission. This well equipped car offers a more sophisticated suspension, compared to the corolla and a Valvematic engine with 137hp.\n\n\nCompetitors to the Scion iM are the Honda Civic hatchback, the Toyota Corolla, Ford Focus, Ford Fiesta, Kia Soul, Nissan Versa, Chevy Sonic, Chevrolet Sonic, Kia Rio, Honda Fit, Honda HR-V, Toyota Yaris, Chevy Spark, Chevrolet Spark, Chevy Cruze, Chevrolet Cruze, Kia Forte, VW Jetta, VW Golf, Volkswagen Jetta, Volkswagen Golf, Dodge Dart, Hyundai Accent, Hyundai Elantra, Nissan Sentra, Fiat 500, Fiat 500X, Mazda3, Mazda2, Mazda6, Scion iM and Mitsubishi Lancer.\n\n\nTwitter: https://twitter.com/MotormouthCDN\nFacebook: http://tinyurl.com/motormouthfb\nMotormouth: http://www.motormouth.ca/\nSubscribe: http://tinyurl.com/motormouthsubscribe\nZack Spencer\nZach Spencer\nCanadian Car Review\nMotormouth Canada','2016 Scion iM Review','','publish','open','open','','2016-scion-im-review','','','2016-01-15 02:11:57','2016-01-15 02:11:57','',0,'http://www.l2ocredit.com/2016/01/15/2016-scion-im-review/',0,'post','',0),(1318,0,'2016-03-23 16:22:00','2016-03-23 20:22:00','','2016 Scion iM Review','','inherit','open','closed','','2016-scion-im-review-2','','','2016-03-23 16:22:00','2016-03-23 20:22:00','',1317,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-scion-im-review-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(1319,0,'2016-03-23 16:22:00','2016-03-23 20:22:00','','2016 Scion iM Review','','inherit','open','closed','','2016-scion-im-review-2','','','2016-03-23 16:22:00','2016-03-23 20:22:00','',1317,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-scion-im-review-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(1320,0,'2016-03-23 16:22:00','2016-03-23 20:22:00','','2016 Scion iM Review','','inherit','open','closed','','2016-scion-im-review-3','','','2016-03-23 16:22:00','2016-03-23 20:22:00','',1317,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-scion-im-review-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(1321,1,'2016-02-13 20:53:05','2016-02-13 20:53:05','Like Us on Facebook! https://www.facebook.com/pages/Camerons-Car-Reviews/349462695066112?ref=hl \nFollow Us on Instagram: cameronscarreviews \nSnapchat: camscarreviews \nCamerons Car Reviews Score: 5/5 \nPowertrain Options: 1.5 L 4-Cylinder with a 6-Speed Manual or CVT Automatic FWD \nEngine &amp; Performance\nBASE ENGINE SIZE 1.5 L \nCAM TYPE Double overhead cam (DOHC)\nCYLINDERS Inline 4 \nVALVES 16\nVALVE TIMING Variable \nTORQUE 114 ft-lbs. @ 4600 rpm\nHORSEPOWER 130 hp @ 6600 rpm \nTURNING CIRCLE 35.1 ft. \nWeights and Capacities\nEPA INTERIOR VOLUME 110.4 cu.ft. \nCURB WEIGHT 2630 lbs.\nCARGO CAPACITY, ALL SEATS IN PLACE 16.6 cu.ft. \nMAXIMUM CARGO CAPACITY 52.7 cu.ft \nFuel\nENGINE TYPE Gas \nFUEL TYPE Regular unleaded\nFUEL TANK CAPACITY 10.6 gal. \nRANGE IN MILES (CTY/HWY) 339.2/402.8 mi.\nEPA MILEAGE EST. (CTY/HWY) 32/38 mpg \nCompetitors: Chevrolet Sonic, Ford Fiesta, Toyota Yaris, Nissan Versa Note','2016 Honda Fit LX 1.5 L 4-Cylinder Review | Camerons Car Reviews','','publish','open','open','','2016-honda-fit-lx-1-5-l-4-cylinder-review-camerons-car-reviews','','','2016-02-13 20:53:05','2016-02-13 20:53:05','',0,'http://www.l2ocredit.com/2016/02/13/2016-honda-fit-lx-1-5-l-4-cylinder-review-camerons-car-reviews/',0,'post','',0),(1322,0,'2016-03-23 16:39:16','2016-03-23 20:39:16','','2016 Honda Fit LX 1.5 L 4-Cylinder Review | Camerons Car Reviews','','inherit','open','closed','','2016-honda-fit-lx-1-5-l-4-cylinder-review-camerons-car-reviews-2','','','2016-03-23 16:39:16','2016-03-23 20:39:16','',1321,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-honda-fit-lx-1-5-l-4-cylinder-review-camerons-car-reviews-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(1323,0,'2016-03-23 16:39:16','2016-03-23 20:39:16','','2016 Honda Fit LX 1.5 L 4-Cylinder Review | Camerons Car Reviews','','inherit','open','closed','','2016-honda-fit-lx-1-5-l-4-cylinder-review-camerons-car-reviews-3','','','2016-03-23 16:39:16','2016-03-23 20:39:16','',1321,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-honda-fit-lx-1-5-l-4-cylinder-review-camerons-car-reviews-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(1324,0,'2016-03-23 16:39:16','2016-03-23 20:39:16','','2016 Honda Fit LX 1.5 L 4-Cylinder Review | Camerons Car Reviews','','inherit','open','closed','','2016-honda-fit-lx-1-5-l-4-cylinder-review-camerons-car-reviews-3','','','2016-03-23 16:39:16','2016-03-23 20:39:16','',1321,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-honda-fit-lx-1-5-l-4-cylinder-review-camerons-car-reviews-youtube-thumbnail-2.jpg',0,'attachment','image/jpeg',0),(1325,0,'2016-03-23 16:39:16','2016-03-23 20:39:16','','2016 Honda Fit LX 1.5 L 4-Cylinder Review | Camerons Car Reviews','','inherit','open','closed','','2016-honda-fit-lx-1-5-l-4-cylinder-review-camerons-car-reviews-4','','','2016-03-23 16:39:16','2016-03-23 20:39:16','',1321,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-honda-fit-lx-1-5-l-4-cylinder-review-camerons-car-reviews-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(1326,0,'2016-03-23 16:39:16','2016-03-23 20:39:16','','2016 Honda Fit LX 1.5 L 4-Cylinder Review | Camerons Car Reviews','','inherit','open','closed','','2016-honda-fit-lx-1-5-l-4-cylinder-review-camerons-car-reviews-5','','','2016-03-23 16:39:16','2016-03-23 20:39:16','',1321,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-honda-fit-lx-1-5-l-4-cylinder-review-camerons-car-reviews-youtube-thumbnail-3.jpg',0,'attachment','image/jpeg',0),(1327,0,'2016-03-23 16:39:17','2016-03-23 20:39:17','','2016 Honda Fit LX 1.5 L 4-Cylinder Review | Camerons Car Reviews','','inherit','open','closed','','2016-honda-fit-lx-1-5-l-4-cylinder-review-camerons-car-reviews-6','','','2016-03-23 16:39:17','2016-03-23 20:39:17','',1321,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-honda-fit-lx-1-5-l-4-cylinder-review-camerons-car-reviews-youtube-thumbnail-4.jpg',0,'attachment','image/jpeg',0),(1328,0,'2016-03-23 16:39:17','2016-03-23 20:39:17','','2016 Honda Fit LX 1.5 L 4-Cylinder Review | Camerons Car Reviews','','inherit','open','closed','','2016-honda-fit-lx-1-5-l-4-cylinder-review-camerons-car-reviews-7','','','2016-03-23 16:39:17','2016-03-23 20:39:17','',1321,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-honda-fit-lx-1-5-l-4-cylinder-review-camerons-car-reviews-youtube-thumbnail-5.jpg',0,'attachment','image/jpeg',0),(1329,1,'2016-03-23 16:16:40','2016-03-23 20:16:40','<p>OTTAWA – A key tax advantage for corporate class investment funds is coming to an end later this year under a change announced in the federal budget.</p>\n<p>Ottawa is ending the ability for investors to switch between funds in corporate class investments without paying tax on capital gains.</p>\n<p>However, the new rules give corporate class fund investors a chance to make any changes under the old rules until the end of September.</p>\n<p>“For investors, the encouragement is a call to action and a call to action prior to September of 2016 to review your portfolio to make sure you make use of your corporate class investments prior to the changes kicking in,” said Tony Salgado, manager on tax and estate planning at Investors Group.</p>\n<p>“This is going to apply to a lot of senior investors and people that wanted to make use of the corporate class structure.”</p>\n<p><a href=\"http://www.moneysense.ca/news/3-ways-the-federal-budget-will-affect-investors/\">3 ways the federal budget will affect investors » </a></p>\n<p>Corporate class funds had been used by investors who had already maxed out their RRSP and TFSA contribution limits as a tax efficient way to invest.</p>\n<p>That’s because corporate class funds had allowed investors to defer taxes and maximize the power of compounding growth.</p>\n<p>With conventional mutual funds, those who wanted to sell a fund and use the proceeds to buy a different fund would be faced with the prospect of having to pay tax on the capital gains of the fund they were selling.</p>\n<p>With corporate class funds, before the change in the budget Tuesday, investors could switch between different funds within the structure without facing the capital gains tax.</p>\n<p><a href=\"http://www.moneysense.ca/save/taxes/budget-winners-and-losers-child-benefit/\"> The winners and losers of the Canada Child Benefit » </a></p>\n<p>However, Peter Bowen, vice-president of tax and retirement research at Fidelity Investments, says corporate class funds will still have some advantages once the changes take affect later this year.</p>\n<p>Bowen, who estimated that there is about $100 billion invested in corporate class funds, said the taxable distributions from corporate class funds will be lower than conventionally structured funds.</p>\n<p>“We get that because we get the benefit of having many investment funds in the same taxable entity, so we’re able to offset capital losses realized by some funds against capital gains realized by other funds,” he said.</p>\n<p>“You will not see a distribution of interest income and you will not see a distribution of foreign income coming out of corporate class structure. You will only see Canadian dividends and capital gains.”</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/news/corporate-class-investment-funds-to-lose-key-advantage-federal-budget/\">Corporate class investment funds to lose key advantage</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','Corporate class investment funds to lose key advantage','<p>New rules don\'t kick in until end of September</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/news/corporate-class-investment-funds-to-lose-key-advantage-federal-budget/\">Corporate class investment funds to lose key advantage</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','pending','closed','closed','','','','','2016-03-23 16:16:40','2016-03-23 20:16:40','',0,'http://www.moneysense.ca/?p=150826',0,'post','',0),(1330,1,'2016-03-23 16:16:40','2016-03-23 20:16:40','<p>OTTAWA – A key tax advantage for corporate class investment funds is coming to an end later this year under a change announced in the federal budget.</p>\n<p>Ottawa is ending the ability for investors to switch between funds in corporate class investments without paying tax on capital gains.</p>\n<p>However, the new rules give corporate class fund investors a chance to make any changes under the old rules until the end of September.</p>\n<p>“For investors, the encouragement is a call to action and a call to action prior to September of 2016 to review your portfolio to make sure you make use of your corporate class investments prior to the changes kicking in,” said Tony Salgado, manager on tax and estate planning at Investors Group.</p>\n<p>“This is going to apply to a lot of senior investors and people that wanted to make use of the corporate class structure.”</p>\n<p><a href=\"http://www.moneysense.ca/news/3-ways-the-federal-budget-will-affect-investors/\">3 ways the federal budget will affect investors » </a></p>\n<p>Corporate class funds had been used by investors who had already maxed out their RRSP and TFSA contribution limits as a tax efficient way to invest.</p>\n<p>That’s because corporate class funds had allowed investors to defer taxes and maximize the power of compounding growth.</p>\n<p>With conventional mutual funds, those who wanted to sell a fund and use the proceeds to buy a different fund would be faced with the prospect of having to pay tax on the capital gains of the fund they were selling.</p>\n<p>With corporate class funds, before the change in the budget Tuesday, investors could switch between different funds within the structure without facing the capital gains tax.</p>\n<p><a href=\"http://www.moneysense.ca/save/taxes/budget-winners-and-losers-child-benefit/\"> The winners and losers of the Canada Child Benefit » </a></p>\n<p>However, Peter Bowen, vice-president of tax and retirement research at Fidelity Investments, says corporate class funds will still have some advantages once the changes take affect later this year.</p>\n<p>Bowen, who estimated that there is about $100 billion invested in corporate class funds, said the taxable distributions from corporate class funds will be lower than conventionally structured funds.</p>\n<p>“We get that because we get the benefit of having many investment funds in the same taxable entity, so we’re able to offset capital losses realized by some funds against capital gains realized by other funds,” he said.</p>\n<p>“You will not see a distribution of interest income and you will not see a distribution of foreign income coming out of corporate class structure. You will only see Canadian dividends and capital gains.”</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/news/corporate-class-investment-funds-to-lose-key-advantage-federal-budget/\">Corporate class investment funds to lose key advantage</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','Corporate class investment funds to lose key advantage','<p>New rules don\'t kick in until end of September</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/news/corporate-class-investment-funds-to-lose-key-advantage-federal-budget/\">Corporate class investment funds to lose key advantage</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','inherit','closed','closed','','1329-revision-v1','','','2016-03-23 16:16:40','2016-03-23 20:16:40','',1329,'http://feedwordpress.radgeek.com/?rev=5b85d3ea29e303c6f5b874821bd2c953',0,'revision','',0),(1331,1,'2016-03-23 06:15:57','2016-03-23 10:15:57','<p><a href=\"http://www.moneysense.ca/tag/budget-2016/\" rel=\"attachment wp-att-150316\"><img class=\"alignnone size-full wp-image-150316\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg\" alt=\"Budget 2016 banner V2\" width=\"885\" height=\"300\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-300x102.jpg 300w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-768x260.jpg 768w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-660x224.jpg 660w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg 885w\" sizes=\"(max-width: 885px) 100vw, 885px\" /></a></p>\n<div itemscope=\"itemscope\" itemtype=\"http://schema.org/VideoObject\">\n\n        <meta itemprop=\"duration\" content=\"PT17M48S\" />\n        <meta itemprop=\"description\" content=\"\" />\n    \n    <div style=\"display: none;\"></div>\n\n    <script type=\"text/javascript\" src=\"http://admin.brightcove.com/js/BrightcoveExperiences.js\"></script>\n    <script type=\"text/javascript\" src=\"http://admin.brightcove.com/js/api/SmartPlayerAPI.js\"></script>\n\n    <object id=\"myExperience4812788644001\" class=\"BrightcoveExperience\">\n        <param name=\"bgcolor\" value=\"#FFFFFF\" />\n        <param name=\"width\" value=\"640\" />\n        <param name=\"height\" value=\"360\" />\n        <param name=\"playerID\" value=\"2659807263001\" />\n        <param name=\"playerKey\" value=\"AQ~~,AAAAAyz2WOE~,aVUQ6mHrguBSAk3aprArcQ8EfouzY6bY\" />\n        <param name=\"isVid\" value=\"true\" />\n        <param name=\"isUI\" value=\"true\" />\n        <param name=\"dynamicStreaming\" value=\"true\" />\n        <param name=\"includeAPI\" value=\"true\" />\n        <param name=\"templateLoadHandler\" value=\"onTemplateLoad\" />\n        <param name=\"templateReadyHandler\" value=\"onTemplateReady\" />\n        <param name=\"@videoPlayer\" value=\"4812788644001\" />\n                <param name=\"adServerURL\" value=\"http://pubads.g.doubleclick.net/gampad/ads?sz=640x360&amp;iu=%2F7326%2Frogers.publishing%2Fmoneysense.CPGBusiness%2Fvideos&amp;ciu_szs=728x90%2C300x250&amp;impl=s&amp;gdfp_req=1&amp;env=vp&amp;output=xml_vast2&amp;ad_rule=1&amp;unviewed_position_start=1&amp;cmsid=1464\" />\n                <param name=\"linkBaseURL\" value=\"http://www.moneysense.ca/save/taxes/budget-winners-and-losers-child-benefit/\" />\n        <param name=\"autoStart\" value=\"false\" />\n        <param name=\"wmode\" value=\"transparent\" />\n    </object>\n\n</div>\n\n<script type=\"text/javascript\">\n    brightcove.createExperiences();\n</script>\n\n<p>The federal budget made some important tax changes for families.  The good news is that the much rumoured increase to the capital gains inclusions rate did not come to fruition in this budget,  and the anticipated changes to stock option benefits have been deferred for now. But if you’ve invested in corporate class mutual funds, you&#8217;ll want to do any switching between funds on a tax-free basis now until September as that special tax-free treatment will disappear.</p>\n<p>Charities will also wince at the cancellation of a provision expected to begin in 2017, introduced in the last budget. That is, the donation of sales proceeds from a qualifying private corporate or real estate dispositions will no longer qualify for a capital gains exemption if proceeds are donated to charity.</p>\n<p><strong>Live chat:</strong> <a href=\"http://www.moneysense.ca/news/live-chat-your-federal-budget-questions-answered/\">Have questions? Tune in to our live chat and our experts will answer</a></p>\n<p><strong>Tool:</strong> <a href=\"http://www.budget.gc.ca/2016/tool-outil/ccb-ace-en.html\" >Finance Canada has a nifty calculator that determines your benefits</a></p>\n<p>Families will be happy with the introduction of the <strong>Canada Child Benefit (CCB)</strong>, which is a refundable credit based on family net income. Specifically, the new CCB provides a maximum benefit of $6400 per child under age of six and $5400 per child age six to 17.</p>\n<p>How much you get is based on 2015 family net income, which is determined on the tax return (2015) currently being filed.  So be sure to dig for every deduction that reduces your net income on Line 236.  Also, a tip for the future:  RRSP planning for families is extremely important as clawback zones can bring marginal tax rates well over 50% in some cases:</p>\n<table>\n<tbody>\n<tr>\n<td></td>\n<td colspan=\"2\">Current Clawback Rules</td>\n</tr>\n<tr>\n<td>Income</td>\n<td>MTR(tax)</td>\n<td>MTR with clawbacks</td>\n</tr>\n<tr>\n<td>$30,000</td>\n<td>20.05%</td>\n<td>20.05%</td>\n</tr>\n<tr>\n<td>$40,000</td>\n<td>20.05%</td>\n<td>40.10%</td>\n</tr>\n<tr>\n<td><strong>$50,000</strong></td>\n<td><strong>29.65%</strong></td>\n<td><strong>51.15%</strong></td>\n</tr>\n<tr>\n<td><strong>$60,000</strong></td>\n<td><strong>29.65%</strong></td>\n<td><strong>51.15%</strong></td>\n</tr>\n<tr>\n<td><strong>$70,000</strong></td>\n<td><strong>29.65%</strong></td>\n<td><strong>51.15%</strong></td>\n</tr>\n<tr>\n<td><strong>$80,000</strong></td>\n<td><strong>31.48%</strong></td>\n<td><strong>72.48%</strong></td>\n</tr>\n<tr>\n<td><strong>$90,000</strong></td>\n<td><strong>37.91%</strong></td>\n<td><strong>58.41%</strong></td>\n</tr>\n<tr>\n<td><strong>$100,000</strong></td>\n<td><strong>43.41%</strong></td>\n<td><strong>63.91%</strong></td>\n</tr>\n<tr>\n<td><strong>$110,000</strong></td>\n<td><strong>43.41%</strong></td>\n<td><strong>63.91%</strong></td>\n</tr>\n<tr>\n<td>$120,000</td>\n<td>43.41%</td>\n<td>43.41%</td>\n</tr>\n<tr>\n<td>$130,000</td>\n<td>43.41%</td>\n<td>43.41%</td>\n</tr>\n<tr>\n<td>$140,000</td>\n<td>43.41%</td>\n<td>43.41%</td>\n</tr>\n<tr>\n<td>$150,000</td>\n<td>46.41%</td>\n<td>46.41%</td>\n</tr>\n<tr>\n<td>$160,000</td>\n<td>47.97%</td>\n<td>47.97%</td>\n</tr>\n<tr>\n<td>$170,000</td>\n<td>47.97%</td>\n<td>47.97%</td>\n</tr>\n<tr>\n<td>$180,000</td>\n<td>47.97%</td>\n<td>47.97%</td>\n</tr>\n<tr>\n<td>$190,000</td>\n<td>47.97%</td>\n<td>47.97%</td>\n</tr>\n<tr>\n<td>$200,000</td>\n<td>47.97%</td>\n<td>47.97%</td>\n</tr>\n<tr>\n<td><strong>$210,000</strong></td>\n<td><strong>51.97%</strong></td>\n<td><strong>51.97%</strong></td>\n</tr>\n<tr>\n<td><strong>$220,000</strong></td>\n<td><strong>51.97%</strong></td>\n<td><strong>51.97%</strong></td>\n</tr>\n<tr>\n<td><strong>$220,000+</strong></td>\n<td><strong>53.53%</strong></td>\n<td><strong>53.53%</strong></td>\n</tr>\n</tbody>\n</table>\n<p>Do refugees get the benefits?  Foreign-born individuals who are Indians and not Canadian citizens and permanent residents under the Immigration and Refugee Protection Act may legally reside in Canada and receive the CCB. A new limitation is being introduced with regard to eligibility for retroactive payments. Currently individuals may apply for CCTB and Universal Child Care Benefit (UCCB) as far back as the introduction of the programs. Income-tax based credits, however, are limited to a 10-year limitation. Retroactive application of UCCB and CTB will align after 2016, to the 10-year limitation.</p>\n<p>Unfortunately, there is no non-refundable tax credit for minor children for those who do not qualify for the income-tested benefits. This was removed when the previous government introduced the UCCB enhancements and the Family Tax Cut.</p>\n<p>Other non-refundable tax credits will be removed as well:  the education/textbook amounts will disappear, as will the refundable children’s fitness credit.</p>\n<p><strong>Read:</strong> <a href=\"http://www.macleans.ca/politics/ottawa/child-care-benefit-as-promised/\" >Is the Canada Child Benefit fair?</a></p>\n<h3><strong>The Canada Child Benefit: See how it affects you </strong></h3>\n<p>The changes the Liberal government has introduced for families has varying result, depending on family net income, how many children the family has, and whether they are under six or six to 17. We did some calculations at Knowledge Bureau to see how families fare in 2016.</p>\n<p>The key learnings are that while middle-income families are generously rewarded with the combination of tax rate reductions and enhanced refundable tax credits, but their marginal tax rates increase significantly as incomes rise to an upper middle class range:  50% for income levels between $70,000 and $80,000 and over<strong> 67% </strong>for income levels between $90,000 and $120,000.<strong> </strong>This makes RRSP planning a must for those families in order to reduce family net income below the $70,000 threshold.</p>\n<p>Let’s look now at the effects of the changes on a low-income family. In this case, net family income is $30,000 and there are three little children in the family – each under six:</p>\n<p><strong>Scenario: Ontario family has three children under 6 and family net income of $30,000</strong></p>\n<table>\n<tbody>\n<tr>\n<td></td>\n<td colspan=\"3\">Both work ($15K each)</td>\n<td colspan=\"3\">One Works ($30K)</td>\n</tr>\n<tr>\n<td></td>\n<td>Old Rules</td>\n<td>New Rules</td>\n<td>Difference</td>\n<td>Old Rules</td>\n<td>New Rules</td>\n<td>Difference</td>\n</tr>\n<tr>\n<td>Earned Income</td>\n<td>$30,000</td>\n<td>$30,000</td>\n<td>$0</td>\n<td>$30,000</td>\n<td>$30,000</td>\n<td>$0</td>\n</tr>\n<tr>\n<td>&#8211; Federal Tax</td>\n<td>1,318</td>\n<td>454</td>\n<td>+864</td>\n<td>1,466</td>\n<td>602</td>\n<td>+864</td>\n</tr>\n<tr>\n<td>&#8211; Provincial Tax</td>\n<td>0</td>\n<td>0</td>\n<td>0</td>\n<td>0</td>\n<td>0</td>\n<td>0</td>\n</tr>\n<tr>\n<td>= Net After Tax</td>\n<td>$28,682</td>\n<td>$29,546</td>\n<td>+$864</td>\n<td>$28,534</td>\n<td>$29,398</td>\n<td>+$864</td>\n</tr>\n<tr>\n<td>+ UCCB</td>\n<td>5,760</td>\n<td>0</td>\n<td>-5,760</td>\n<td>5,760</td>\n<td>0</td>\n<td>-5,760</td>\n</tr>\n<tr>\n<td>+ CTB</td>\n<td>9,656</td>\n<td>19,200</td>\n<td>+9,544</td>\n<td>9,656</td>\n<td>19,200</td>\n<td>+9,544</td>\n</tr>\n<tr>\n<td>+ GSTC</td>\n<td>987</td>\n<td>987</td>\n<td>0</td>\n<td>987</td>\n<td>987</td>\n<td>0</td>\n</tr>\n<tr>\n<td>+ Prov CTB</td>\n<td>3,324</td>\n<td>3,324</td>\n<td>0</td>\n<td>3,324</td>\n<td>3,324</td>\n<td>0</td>\n</tr>\n<tr>\n<td>= Total Income</td>\n<td>$48,409</td>\n<td>$53,057</td>\n<td>+$4,648</td>\n<td>$48,261</td>\n<td>$52,909</td>\n<td>+$4,648</td>\n</tr>\n<tr>\n<td>Monthly Income</td>\n<td>$4,034</td>\n<td>$4,421</td>\n<td>+$387</td>\n<td>$4,022</td>\n<td>$4,409</td>\n<td>+$387</td>\n</tr>\n</tbody>\n</table>\n<p><em>Source: Knowledge Bureau, Inc.</em></p>\n<p><strong>Conclusions:</strong></p>\n<ul>\n<li>Under the new rules a low-income family with three children will be better off by almost $400 per month.</li>\n<li>This family has after-tax income of $4,409 per month.</li>\n<li>Whether single-earner or two working spouses makes little difference.</li>\n<li>The tax system added 75% to earned income under the new rules with one earner.</li>\n</ul>\n<h3>Higher Income Earners</h3>\n<p>Now let’s take a look at the amount of <strong>Canada Child Benefit</strong> receivable and resulting marginal tax rates at higher income levels. The scenario is the following: Ontario family has three children under 6 and various family net income levels below.  But in this case one spouse is working. First let’s take a look at the old rules:</p>\n<p><strong>Table 1: Old Rules</strong></p>\n<table>\n<tbody>\n<tr>\n<td width=\"71\">Income</td>\n<td width=\"68\">Income Tax</td>\n<td width=\"67\">UCCB</td>\n<td width=\"67\">CTB</td>\n<td width=\"65\">GSTC</td>\n<td width=\"71\">After Tax</td>\n<td width=\"59\">Effective Tax Rate</td>\n</tr>\n<tr>\n<td width=\"71\">$30,000</td>\n<td width=\"68\">$1,466</td>\n<td width=\"67\">$5,760</td>\n<td width=\"67\">$9,656</td>\n<td width=\"65\">$987</td>\n<td width=\"71\">$44,937</td>\n<td width=\"59\">-50%</td>\n</tr>\n<tr>\n<td width=\"71\">$40,000</td>\n<td width=\"68\">3,406</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">6,140</td>\n<td width=\"65\">652</td>\n<td width=\"71\">$49,146</td>\n<td width=\"59\">-23%</td>\n</tr>\n<tr>\n<td width=\"71\">$50,000</td>\n<td width=\"68\">6,101</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">4,385</td>\n<td width=\"65\">152</td>\n<td width=\"71\">$54,196</td>\n<td width=\"59\">-8%</td>\n</tr>\n<tr>\n<td width=\"71\">$60,000</td>\n<td width=\"68\">9,165</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">3,985</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$60,580</td>\n<td width=\"59\">-1%</td>\n</tr>\n<tr>\n<td width=\"71\">$70,000</td>\n<td width=\"68\">12,280</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">3,585</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$67,065</td>\n<td width=\"59\">+4%</td>\n</tr>\n<tr>\n<td width=\"71\">$80,000</td>\n<td width=\"68\">15,549</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">3,185</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$73,396</td>\n<td width=\"59\">+8%</td>\n</tr>\n<tr>\n<td width=\"71\">$90,000</td>\n<td width=\"68\">19,014</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">2,785</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$79,531</td>\n<td width=\"59\">+12%</td>\n</tr>\n<tr>\n<td width=\"71\">$100,000</td>\n<td width=\"68\">23,268</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">2,385</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$84,877</td>\n<td width=\"59\">+15%</td>\n</tr>\n<tr>\n<td width=\"71\">$110,000</td>\n<td width=\"68\">27,609</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">1,985</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$90,136</td>\n<td width=\"59\">+18%</td>\n</tr>\n<tr>\n<td width=\"71\">$120,000</td>\n<td width=\"68\">31,949</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">1,585</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$95,396</td>\n<td width=\"59\">+21%</td>\n</tr>\n<tr>\n<td width=\"71\">$130,000</td>\n<td width=\"68\">36,291</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">1,185</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$100,654</td>\n<td width=\"59\">+23%</td>\n</tr>\n<tr>\n<td width=\"71\">$140,000</td>\n<td width=\"68\">40,632</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">785</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$105,913</td>\n<td width=\"59\">+24%</td>\n</tr>\n<tr>\n<td width=\"71\">$150,000</td>\n<td width=\"68\">45,261</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">385</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$110,884</td>\n<td width=\"59\">+26%</td>\n</tr>\n<tr>\n<td width=\"71\">$160,000</td>\n<td width=\"68\">50,058</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">0</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$115,702</td>\n<td width=\"59\">+28%</td>\n</tr>\n</tbody>\n</table>\n<p><em>©2016 Knowledge Bureau, Inc.  All Rights Reserved.</em></p>\n<p>Note that negative figures represent an excess of benefits received over taxes payable. Below, we take a look at what happens under the new rules with our three-child family. We note taxes payable are netted out with eligible refundable tax credits, and compare the results to the old rules.</p>\n<p><strong>Table 2: New Rules</strong></p>\n<table>\n<tbody>\n<tr>\n<td width=\"67\">Income</td>\n<td width=\"50\">Income Tax</td>\n<td width=\"35\">UCCB</td>\n<td width=\"43\">CCB</td>\n<td width=\"43\">GSTC</td>\n<td width=\"57\">Net Tax</td>\n<td width=\"47\">Effective Tax Rate</td>\n<td width=\"59\">Difference</td>\n<td width=\"29\">% Diff</td>\n<td width=\"46\">MTR</td>\n</tr>\n<tr>\n<td width=\"67\">$30,000</td>\n<td width=\"50\">$602</td>\n<td width=\"35\">$0</td>\n<td width=\"43\">$19,200</td>\n<td width=\"43\">$987</td>\n<td width=\"57\">$49,585</td>\n<td width=\"47\">-65%</td>\n<td width=\"59\">$4,648</td>\n<td width=\"29\">15%</td>\n<td width=\"46\">15%</td>\n</tr>\n<tr>\n<td width=\"67\">$40,000</td>\n<td width=\"50\">3,406</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$17,300</td>\n<td width=\"43\">652</td>\n<td width=\"57\">$54,546</td>\n<td width=\"47\">-36%</td>\n<td width=\"59\">$5,400</td>\n<td width=\"29\">14%</td>\n<td width=\"46\">43.15%</td>\n</tr>\n<tr>\n<td width=\"67\">$50,000</td>\n<td width=\"50\">6,030</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$15,400</td>\n<td width=\"43\">152</td>\n<td width=\"57\">$59,522</td>\n<td width=\"47\">-19%</td>\n<td width=\"59\">$5,326</td>\n<td width=\"29\">11%</td>\n<td width=\"46\">48.65%</td>\n</tr>\n<tr>\n<td width=\"67\">$60,000</td>\n<td width=\"50\">8,944</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$13,500</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$64,556</td>\n<td width=\"47\">-8%</td>\n<td width=\"59\">$3,976</td>\n<td width=\"29\">7%</td>\n<td width=\"46\">48.65%</td>\n</tr>\n<tr>\n<td width=\"67\">$70,000</td>\n<td width=\"50\">11,909</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$12,150</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$70,241</td>\n<td width=\"47\">0%</td>\n<td width=\"59\">$3,176</td>\n<td width=\"29\">5%</td>\n<td width=\"46\">37.15%</td>\n</tr>\n<tr>\n<td width=\"67\">$80,000</td>\n<td width=\"50\">15,028</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$11,350</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$76,322</td>\n<td width=\"47\">5%</td>\n<td width=\"59\">$2,926</td>\n<td width=\"29\">4%</td>\n<td width=\"46\">39.48%</td>\n</tr>\n<tr>\n<td width=\"67\">$90,000</td>\n<td width=\"50\">18,343</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$10,550</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$82,207</td>\n<td width=\"47\">9%</td>\n<td width=\"59\">$2,676</td>\n<td width=\"29\">3%</td>\n<td width=\"46\">45.91%</td>\n</tr>\n<tr>\n<td width=\"67\">$100,000</td>\n<td width=\"50\">22,588</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$9,750</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$87,162</td>\n<td width=\"47\">13%</td>\n<td width=\"59\">$2,285</td>\n<td width=\"29\">2%</td>\n<td width=\"46\">51.41%</td>\n</tr>\n<tr>\n<td width=\"67\">$110,000</td>\n<td width=\"50\">26,929</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$8,950</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$92,021</td>\n<td width=\"47\">16%</td>\n<td width=\"59\">$1,885</td>\n<td width=\"29\">2%</td>\n<td width=\"46\">51.41%</td>\n</tr>\n<tr>\n<td width=\"67\">$120,000</td>\n<td width=\"50\">31,370</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$8,150</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$96,780</td>\n<td width=\"47\">19%</td>\n<td width=\"59\">$1,384</td>\n<td width=\"29\">1%</td>\n<td width=\"46\">51.41%</td>\n</tr>\n<tr>\n<td width=\"67\">$130,000</td>\n<td width=\"50\">35,611</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$7,350</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$101,739</td>\n<td width=\"47\">22%</td>\n<td width=\"59\">$1,085</td>\n<td width=\"29\">1%</td>\n<td width=\"46\">51.41%</td>\n</tr>\n<tr>\n<td width=\"67\">$140,000</td>\n<td width=\"50\">39,952</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$6,550</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$106,598</td>\n<td width=\"47\">24%</td>\n<td width=\"59\">$685</td>\n<td width=\"29\">0%</td>\n<td width=\"46\">51.41%</td>\n</tr>\n<tr>\n<td width=\"67\">$150,000</td>\n<td width=\"50\">44,582</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$5,750</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$111,168</td>\n<td width=\"47\">26%</td>\n<td width=\"59\">$284</td>\n<td width=\"29\">0%</td>\n<td width=\"46\">55.97%</td>\n</tr>\n<tr>\n<td width=\"67\">$160,000</td>\n<td width=\"50\">49,379</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$4,950</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$115,571</td>\n<td width=\"47\">28%</td>\n<td width=\"59\">-$131</td>\n<td width=\"29\">0%</td>\n<td width=\"46\">55.97%</td>\n</tr>\n</tbody>\n</table>\n<p><em>©2016 Knowledge Bureau, Inc.  All Rights Reserved.</em></p>\n<p><strong>Conclusions:</strong></p>\n<ul>\n<li>Family net income can be as high as $70,000 before any net tax is paid (that is, taxes payable less refundable credits received)</li>\n<li>When this family’s income reaches $160,000 it is evident that the UCCB provided more money. In addition the family’s marginal tax rate is quite high, when the clawback of the CCB is taken into account</li>\n<li>However, while high income earners received more benefits under the UCCB regime, the Canada Child Benefit delivers at least some dollars to a broader number of high income families, as illustrated with the high income cut off chart below. In fact, marginal tax rates are over 50% for income levels exceed $100,000 when we take the clawbacks into account. That makes RRSP planning important for families. The deduction of the contribution will help to reduce family net income levels. Child care expense deductions and carry charges on investments are examples of two other deductions that reduce family net income</li>\n</ul>\n<h3>High Income Cut Offs for Canada Child Benefit</h3>\n<p>The following table shows the income level at which the CCB will be eliminated for various families. The full benefit is only received up to family net income of $30,000 but the benefit is available over a surprisingly large income range.</p>\n<table>\n<tbody>\n<tr>\n<td><strong>Ages of Children</strong></td>\n<td><strong>Income Cut-Off</strong></td>\n</tr>\n<tr>\n<td>1 child under 6</td>\n<td>$188,437</td>\n</tr>\n<tr>\n<td>1 child over 6</td>\n<td>$157,187</td>\n</tr>\n<tr>\n<td>2 children, both under 6</td>\n<td>$206,667</td>\n</tr>\n<tr>\n<td>2 children, one under 6</td>\n<td>$189,123</td>\n</tr>\n<tr>\n<td>2 children, both over 5</td>\n<td>$171,579</td>\n</tr>\n<tr>\n<td>3 children all under 6</td>\n<td>$221,875</td>\n</tr>\n<tr>\n<td>3 children, two under 6</td>\n<td>$209,375</td>\n</tr>\n<tr>\n<td>3 children, one under 6</td>\n<td>$196,875</td>\n</tr>\n<tr>\n<td>3 children, all over 5</td>\n<td>$184,375</td>\n</tr>\n<tr>\n<td>4 children, all under 6</td>\n<td>$249,737</td>\n</tr>\n<tr>\n<td>4 children, three under 6</td>\n<td>$239,211</td>\n</tr>\n<tr>\n<td>4 children, two under 6</td>\n<td>$228,684</td>\n</tr>\n<tr>\n<td>4 children, one under 6</td>\n<td>$218,158</td>\n</tr>\n<tr>\n<td>4 children, all over 5</td>\n<td>$207,631</td>\n</tr>\n</tbody>\n</table>\n<h3>Single Child Families</h3>\n<p>In the following scenarios, we take a look at the results under old and new rules that focus on the removal of the UCCB in favour of the CCB and the net results for families at $30,000, $60,000 and $120,000.  In this case, there is only one child.</p>\n<table>\n<tbody>\n<tr>\n<td rowspan=\"2\"><strong>Family </strong></p>\n<p><strong>Income</strong></td>\n<td rowspan=\"2\"><strong>One</strong></p>\n<p><strong>Child</strong></td>\n<td colspan=\"4\"><strong>Old Rules</strong></td>\n<td colspan=\"4\"><strong>New Rules</strong></td>\n<td><strong> </strong></td>\n</tr>\n<tr>\n<td><strong>Income Tax</strong></td>\n<td><strong>CTB</strong></td>\n<td><strong>UCCB</strong></td>\n<td><strong>Net</strong></td>\n<td><strong>Income Tax</strong></td>\n<td><strong>CCB</strong></td>\n<td><strong>UCCB</strong></td>\n<td><strong>Net</strong></td>\n<td><strong>Difference</strong></td>\n</tr>\n<tr>\n<td><strong>$30,000</strong></td>\n<td><strong>&lt;6</strong></td>\n<td>$1,466</td>\n<td>$3,354</td>\n<td>$1,920</td>\n<td>$33,808</td>\n<td>$602</td>\n<td>$6,400</td>\n<td>$   &#8211;</td>\n<td>$35,798</td>\n<td>$1,990</td>\n</tr>\n<tr>\n<td><strong>$30,000</strong></td>\n<td><strong>&gt;5</strong></td>\n<td>$1,466</td>\n<td>$3,354</td>\n<td>$720</td>\n<td>$32,608</td>\n<td>$602</td>\n<td>$5,400</td>\n<td>$   &#8211;</td>\n<td>$34,798</td>\n<td>$2,190</td>\n</tr>\n<tr>\n<td><strong> $60,000 </strong></td>\n<td><strong>&lt;6</strong></td>\n<td>$9,506</td>\n<td>$1,195</td>\n<td>$1,920</td>\n<td>$53,609</td>\n<td>$     8,944</td>\n<td>$   4,300</td>\n<td>$     &#8211;</td>\n<td>$   55,356</td>\n<td>$1,747</td>\n</tr>\n<tr>\n<td><strong> $60,000 </strong></td>\n<td><strong>&gt;5</strong></td>\n<td>$9,273</td>\n<td>$1,195</td>\n<td>$720</td>\n<td>$52,409</td>\n<td>$     8,944</td>\n<td>$   3,300</td>\n<td>$     &#8211;</td>\n<td>$ 54,356</td>\n<td>$1,947</td>\n</tr>\n<tr>\n<td><strong> $120,000 </strong></td>\n<td><strong>&lt;6</strong></td>\n<td>$32,322</td>\n<td>$0</td>\n<td>$1,920</td>\n<td>$89,598</td>\n<td>$ 31,270</td>\n<td>$ 2,190</td>\n<td>$     &#8211;</td>\n<td>$   90,920</td>\n<td>$1,322</td>\n</tr>\n<tr>\n<td><strong> $120,000 </strong></td>\n<td><strong>&gt;5</strong></td>\n<td>$32,058</td>\n<td>$0</td>\n<td>$720</td>\n<td>$88,398</td>\n<td>$ 31,270</td>\n<td>$   1,190</td>\n<td>$     &#8211;</td>\n<td>$   89,920</td>\n<td>$1,522</td>\n</tr>\n</tbody>\n</table>\n<p>Of note is the fact that single-child families are better off with one child under the new rules at either age and across large income ranges. And that’s certainly good news!</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/save/taxes/budget-winners-and-losers-child-benefit/\">The winners and losers of the Canada Child Benefit</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','The winners and losers of the Canada Child Benefit','<p>Our tax expert crunches the numbers </p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/save/taxes/budget-winners-and-losers-child-benefit/\">The winners and losers of the Canada Child Benefit</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','inherit','closed','closed','','1014-revision-v1','','','2016-03-23 06:15:57','2016-03-23 10:15:57','',1014,'http://feedwordpress.radgeek.com/?rev=6a89dfc20788f6d98fbc0cd045bf3da3',0,'revision','',0),(1332,1,'2016-03-22 19:48:29','2016-03-22 23:48:29','<p><a href=\"http://www.moneysense.ca/tag/budget-2016/\" rel=\"attachment wp-att-150316\"><img class=\"alignnone size-full wp-image-150316\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg\" alt=\"Budget 2016 banner V2\" width=\"885\" height=\"300\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-300x102.jpg 300w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-768x260.jpg 768w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-660x224.jpg 660w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg 885w\" sizes=\"(max-width: 885px) 100vw, 885px\" /></a></p>\n<div itemscope=\"itemscope\" itemtype=\"http://schema.org/VideoObject\">\n\n        <meta itemprop=\"duration\" content=\"PT17M48S\" />\n        <meta itemprop=\"description\" content=\"\" />\n    \n    <div style=\"display: none;\"></div>\n\n    <script type=\"text/javascript\" src=\"http://admin.brightcove.com/js/BrightcoveExperiences.js\"></script>\n    <script type=\"text/javascript\" src=\"http://admin.brightcove.com/js/api/SmartPlayerAPI.js\"></script>\n\n    <object id=\"myExperience4812788644001\" class=\"BrightcoveExperience\">\n        <param name=\"bgcolor\" value=\"#FFFFFF\" />\n        <param name=\"width\" value=\"640\" />\n        <param name=\"height\" value=\"360\" />\n        <param name=\"playerID\" value=\"2659807263001\" />\n        <param name=\"playerKey\" value=\"AQ~~,AAAAAyz2WOE~,aVUQ6mHrguBSAk3aprArcQ8EfouzY6bY\" />\n        <param name=\"isVid\" value=\"true\" />\n        <param name=\"isUI\" value=\"true\" />\n        <param name=\"dynamicStreaming\" value=\"true\" />\n        <param name=\"includeAPI\" value=\"true\" />\n        <param name=\"templateLoadHandler\" value=\"onTemplateLoad\" />\n        <param name=\"templateReadyHandler\" value=\"onTemplateReady\" />\n        <param name=\"@videoPlayer\" value=\"4812788644001\" />\n                <param name=\"adServerURL\" value=\"http://pubads.g.doubleclick.net/gampad/ads?sz=640x360&amp;iu=%2F7326%2Frogers.publishing%2Fmoneysense.CPGBusiness%2Fvideos&amp;ciu_szs=728x90%2C300x250&amp;impl=s&amp;gdfp_req=1&amp;env=vp&amp;output=xml_vast2&amp;ad_rule=1&amp;unviewed_position_start=1&amp;cmsid=1464\" />\n                <param name=\"linkBaseURL\" value=\"http://www.moneysense.ca/save/taxes/budget-winners-and-losers-child-benefit/\" />\n        <param name=\"autoStart\" value=\"false\" />\n        <param name=\"wmode\" value=\"transparent\" />\n    </object>\n\n</div>\n\n<script type=\"text/javascript\">\n    brightcove.createExperiences();\n</script>\n\n<p>On Tuesday afternoon, Finance Minister Bill Morneau tabled his first federal budget in the House of Commons. In many ways it was a big budget (promising a $29.4 billion deficit and a plan to invest $120 billion in infrastructure spending over the next 10 years). There were also a number of line items targeted at Canadian investors. Here are three key ways that Budget 2016 impacts them:</p>\n<h3>No. 1: Investors can expect to pay more tax</h3>\n<p>Budget 2016 aims to close loopholes that some investors use to reduce tax paid to the Canada Revenue Agency (CRA). For instance, it will examine the use of “debt-parking transactions,” used by investors or private corporations in an effort to “preserve the integrity of the foreign exchange computational rules.”</p>\n<p>The Budget will also “prevent the asymmetrical recognition of gains and losses on derivatives for tax purposes,” and “prevent the deferral of capital gains tax by investors in mutual fund corporations structured as switch funds.”</p>\n<p>Also introduced in Budget 2016 is a new rule that would &#8220;effectively treat the portion of any gain realized on the sale of a linked note that is attributable to the variable return on the note as accrued interest on the note.”</p>\n<h3><strong>No. 2: The Labour-Sponsored tax credit will be reinstated</strong></h3>\n<p>Budget 2016 restores the tax credit for share purchases of provincially registered Labour-Sponsored Venture Capital Corporations to 15% for 2016 and subsequent tax years. The aim is to aid small- and medium-sized businesses, by helping them gain access to venture capital and providing federal tax relief of about $815 million through 2020–21.</p>\n<h3><strong>No. 3: The elimination of capital gains tax exemption on donations</strong></h3>\n<p>Last year&#8217;s budget included a proposal to provide an income  tax exemption on capital gains of donated private corporation shares or real estate, beginning in 2017. (To qualify, the cash proceeds from the disposition need to be donated to a registered charity or other qualified donee within 30 days.) Budget 2016 eliminates this tax exemption.</p>\n<p>&nbsp;</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/news/3-ways-the-federal-budget-will-affect-investors/\">3 ways the federal budget will affect investors</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','3 ways the federal budget will affect investors','<p>First up: They can expect to pay more tax</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/news/3-ways-the-federal-budget-will-affect-investors/\">3 ways the federal budget will affect investors</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','inherit','closed','closed','','1022-revision-v1','','','2016-03-22 19:48:29','2016-03-22 23:48:29','',1022,'http://feedwordpress.radgeek.com/?rev=b7fac9d79408ced4e6e5398ee7f2340b',0,'revision','',0),(1333,1,'2016-03-22 19:38:52','2016-03-22 23:38:52','<p><a href=\"http://www.moneysense.ca/tag/budget-2016/\" rel=\"attachment wp-att-150316\"><img class=\"alignnone size-full wp-image-150316\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg\" alt=\"Budget 2016 banner V2\" width=\"885\" height=\"300\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-300x102.jpg 300w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-768x260.jpg 768w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-660x224.jpg 660w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg 885w\" sizes=\"(max-width: 885px) 100vw, 885px\" /></a></p>\n<div itemscope=\"itemscope\" itemtype=\"http://schema.org/VideoObject\">\n\n        <meta itemprop=\"duration\" content=\"PT17M48S\" />\n        <meta itemprop=\"description\" content=\"\" />\n    \n    <div style=\"display: none;\"></div>\n\n    <script type=\"text/javascript\" src=\"http://admin.brightcove.com/js/BrightcoveExperiences.js\"></script>\n    <script type=\"text/javascript\" src=\"http://admin.brightcove.com/js/api/SmartPlayerAPI.js\"></script>\n\n    <object id=\"myExperience4812788644001\" class=\"BrightcoveExperience\">\n        <param name=\"bgcolor\" value=\"#FFFFFF\" />\n        <param name=\"width\" value=\"640\" />\n        <param name=\"height\" value=\"360\" />\n        <param name=\"playerID\" value=\"2659807263001\" />\n        <param name=\"playerKey\" value=\"AQ~~,AAAAAyz2WOE~,aVUQ6mHrguBSAk3aprArcQ8EfouzY6bY\" />\n        <param name=\"isVid\" value=\"true\" />\n        <param name=\"isUI\" value=\"true\" />\n        <param name=\"dynamicStreaming\" value=\"true\" />\n        <param name=\"includeAPI\" value=\"true\" />\n        <param name=\"templateLoadHandler\" value=\"onTemplateLoad\" />\n        <param name=\"templateReadyHandler\" value=\"onTemplateReady\" />\n        <param name=\"@videoPlayer\" value=\"4812788644001\" />\n                <param name=\"adServerURL\" value=\"http://pubads.g.doubleclick.net/gampad/ads?sz=640x360&amp;iu=%2F7326%2Frogers.publishing%2Fmoneysense.CPGBusiness%2Fvideos&amp;ciu_szs=728x90%2C300x250&amp;impl=s&amp;gdfp_req=1&amp;env=vp&amp;output=xml_vast2&amp;ad_rule=1&amp;unviewed_position_start=1&amp;cmsid=1464\" />\n                <param name=\"linkBaseURL\" value=\"http://www.moneysense.ca/save/taxes/budget-winners-and-losers-child-benefit/\" />\n        <param name=\"autoStart\" value=\"false\" />\n        <param name=\"wmode\" value=\"transparent\" />\n    </object>\n\n</div>\n\n<script type=\"text/javascript\">\n    brightcove.createExperiences();\n</script>\n\n<p>For the first time in Canadian history, there are more seniors over the age of 65 than there are children under the age of 15. What this means is that, over time, there will be fewer Canadians working to support the overall population. Seniors issues are only going to grow in importance.</p>\n<p>With that in mind, let&#8217;s dig into what happened in this budget related to seniors. Some of it we already knew, some of it adds up to real change and some omissions are worth noting.</p>\n<p><strong>Live chat:</strong> <a href=\"http://www.moneysense.ca/news/live-chat-your-federal-budget-questions-answered/\">Have questions? Tune in to our live chat &amp; our experts will answer</a></p>\n<h3><strong>The OAS reversal</strong></h3>\n<p>As already announced, the eligibility ages of the Old Age Security program will be restored. Budget 2016 proposes to cancel the provisions in the Old Age Security Act that would have increased the age of eligibility for OAS and Guaranteed Income Supplement benefits from 65 to 67 and Allowance benefits from 60 to 62 over the 2023 to 2029 period.</p>\n<p>Restoring the eligibility age for OAS and GIS benefits to 65 will put thousands of dollars back in the pockets of Canadians as they become seniors. These benefits are an important part of the retirement income of Canadians, particularly for lower-income seniors.</p>\n<p>Vulnerable seniors depend on this support, and without it, face a much higher risk of living in poverty.</p>\n<p>This announcement by the government is basically undoing something that wasn’t due to happen until 2023. The former government put it in place and the current government took it away. Aside from adding some bureaucratic paperwork, no one was impacted by this, although it was certainly hanging over the heads of investors and their planners. Most of them will be thrilled by this reversal, even if they have to amend their financial plans to reflect this.</p>\n<h3><strong>Guaranteed Income Supplement</strong></h3>\n<p>In Canada, the retirement income system has been successful in reducing the incidence of poverty among Canadian seniors due mainly to Canada Pension Plan (CPP) and OAS. However, of those who do struggle to make ends meet in retirement, single seniors are hardest hit. They are nearly three times more likely to live in low income than seniors generally. For that reason, the federal budget offers an increase to the GIS.</p>\n<p>The federal budget promises to top up this monthly non-taxable benefit for low-income OAS recipients, by up to $947 annually, improving the financial security of about 900,000 seniors across Canada. It doubles the current maximum GIS top-up and represents a 10% increase in the total GIS benefits available to the lowest-income single seniors. A few other key facts about the supplement increase:</p>\n<ul>\n<li>It represents an investment of over $670 million per year</li>\n<li>The graduated benefits are based on income threshold of $4,600</li>\n<li>The benefits will be phased out at income of $8,400 or more</li>\n<li>Going forward, they will be calculated based on individual (not combined) incomes</li>\n</ul>\n<p>That last point is especially meaningful to senior couples who have to live apart for reasons beyond their control and who will see an even greater increase in their GIS benefits. This enhancement will help to defer the higher costs of living of maintaining two residences and reduce the risk of increased poverty.</p>\n<p>This proposed increase supports those seniors who rely almost exclusively on OAS and GIS benefits and may therefore be at risk of experiencing financial difficulties. It allows low-income single seniors more freedom of choice with their finances, while knowing they will receive a guaranteed monthly benefit that will increase with inflation over time.</p>\n<p>However, Statistics Canada has indicated that the Low Income Measure (LIM) for a single senior is $22,000 per year so there is still more work to be done on this in order to bring these 900,000 low income seniors to a reasonable, liveable income.</p>\n<p>Here are a few scenarios that illustrate the impact of the changes:</p>\n<ul>\n<li><em>Lynn is a 74-year-old resident of Montréal, Quebec, who lives alone. With no income apart from OAS and GIS benefits, she struggles to make ends meet. The increase in the GIS top-up benefit for single seniors proposed in Budget 2016 will provide Lynn with an additional $947 per year.</em></li>\n</ul>\n<ul>\n<li><em>Charles is a 68-year-old widower residing in Edmonton, Alberta. Charles receives annual CPP benefits of $5,000 along with OAS and GIS benefits. The increase in the GIS top-up benefit for single seniors proposed in Budget 2016 will provide Charles with an additional $848 per year.  </em></li>\n</ul>\n<ul>\n<li><em>Heather and David have been married for 40 years. David, age 77, receives annual CPP benefits of $3,000 and OAS and GIS bene</em><em>fits of over $12,500. Heather, age 62, has annual earnings from her part-time job of $6,000 and receives over $5,800 </em><em>in Allowance benefits. Taken together, the OAS program provides Heather and David with over $18,300 in annual income support. </em><em>David requires long-term care and Heather and David must live apart. Budget 2016 proposes to allow David and Heather to receive their GIS</em><em> and Allowance benefits based on their individual incomes, recognizing the higher costs of living that Heather and David would face </em><em>living apart. As a result of the proposed change, David would receive over $14,300 in OAS and GIS benefits. Heather would receive about $8,300 in Allowance benefits. Taken together, the OAS</em><em> program would provide annual income support of about $22,600, an increase of more than $4,000 from current levels.</em></li>\n</ul>\n<h3><strong>Affordable housing for seniors</strong></h3>\n<p>Canada’s senior population is growing, and many seniors now find it difficult to afford housing that is suitable, or that allows them to easily stay in their homes as long as possible.</p>\n<p>Budget 2016 proposes to provide $200.7 million over two years, starting in 2016–17, to support the construction, repair and adaption of affordable housing for seniors. While funding will be provided under the Investment in Affordable Housing initiative, provinces and territories will not be required to cost-match these investments. This investment is expected to help improve housing conditions for more than 5,000 low-income senior households.</p>\n<p>This initiative helps seniors to age at home which is exactly what the majority of seniors prefer but with many seniors still living in the own homes, this program will need to be more fulsome and last longer than two years to offset the impending lack of affordable and accessible housing for this demographic. The provinces and territories will need to step up with their investments to augment this new federal funding.</p>\n<p>Seniors will also be interested to know that there are commitments to improve client services at the Canada Revenue Agency. The CRA will reduce their telephone wait times, new and more easily understood correspondence, and more liaison with local volunteer groups that provide help to low income Canadians with their tax returns.  This is a welcome announcement from the CRA.</p>\n<h3><strong>What’s missing from the budget?</strong></h3>\n<p>Seniors’ groups have been asking for a national pharmacare program to ensure cross-Canada price equity and availability, extended compassionate leave and a national caregivers program, as well as a national home care strategy to allow seniors to age with dignity in their homes. So, while we&#8217;re a little further down the path–there is more room to go.</p>\n<hr />\n<p><a href=\"http://www.moneysenseapproved.com/findanadvisor/\"><img class=\"alignleft wp-image-118650\" src=\"http://www.moneysense.ca/wp-content/uploads/2015/05/Screen-Shot-2015-04-30-at-4.48.05-PM.png\" alt=\"MoneySense Approved\" width=\"250\" height=\"178\" /></a><a href=\"http://www.moneysenseapproved.com/findanadvisor/\">Find the advisor who&#8217;s right for you</a></p>\n<p>Let us match you with a trusted financial advisor who has the skills, training and approach to money &amp; investing that you need.</p>\n<p><a href=\"http://www.moneysenseapproved.com/findanadvisor/\">Try our search tool now!</a></p>\n<hr />\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/save/retirement/what-the-federal-budget-means-for-seniors/\">What the budget means for seniors</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','What the budget means for seniors','<p>A closer look at changes to OAS, GIS and spending on seniors housing</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/save/retirement/what-the-federal-budget-means-for-seniors/\">What the budget means for seniors</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','inherit','closed','closed','','1038-revision-v1','','','2016-03-22 19:38:52','2016-03-22 23:38:52','',1038,'http://feedwordpress.radgeek.com/?rev=092e4ba8e8b4db458e48bc047e1faad9',0,'revision','',0),(1334,1,'2016-03-22 19:22:43','2016-03-22 23:22:43','<div itemscope=\"itemscope\" itemtype=\"http://schema.org/VideoObject\">\n\n        <meta itemprop=\"duration\" content=\"PT17M48S\" />\n        <meta itemprop=\"description\" content=\"\" />\n    \n    <div style=\"display: none;\"></div>\n\n    <script type=\"text/javascript\" src=\"http://admin.brightcove.com/js/BrightcoveExperiences.js\"></script>\n    <script type=\"text/javascript\" src=\"http://admin.brightcove.com/js/api/SmartPlayerAPI.js\"></script>\n\n    <object id=\"myExperience4812788644001\" class=\"BrightcoveExperience\">\n        <param name=\"bgcolor\" value=\"#FFFFFF\" />\n        <param name=\"width\" value=\"640\" />\n        <param name=\"height\" value=\"360\" />\n        <param name=\"playerID\" value=\"2659807263001\" />\n        <param name=\"playerKey\" value=\"AQ~~,AAAAAyz2WOE~,aVUQ6mHrguBSAk3aprArcQ8EfouzY6bY\" />\n        <param name=\"isVid\" value=\"true\" />\n        <param name=\"isUI\" value=\"true\" />\n        <param name=\"dynamicStreaming\" value=\"true\" />\n        <param name=\"includeAPI\" value=\"true\" />\n        <param name=\"templateLoadHandler\" value=\"onTemplateLoad\" />\n        <param name=\"templateReadyHandler\" value=\"onTemplateReady\" />\n        <param name=\"@videoPlayer\" value=\"4812788644001\" />\n                <param name=\"adServerURL\" value=\"http://pubads.g.doubleclick.net/gampad/ads?sz=640x360&amp;iu=%2F7326%2Frogers.publishing%2Fmoneysense.CPGBusiness%2Fvideos&amp;ciu_szs=728x90%2C300x250&amp;impl=s&amp;gdfp_req=1&amp;env=vp&amp;output=xml_vast2&amp;ad_rule=1&amp;unviewed_position_start=1&amp;cmsid=1464\" />\n                <param name=\"linkBaseURL\" value=\"http://www.moneysense.ca/save/taxes/budget-winners-and-losers-child-benefit/\" />\n        <param name=\"autoStart\" value=\"false\" />\n        <param name=\"wmode\" value=\"transparent\" />\n    </object>\n\n</div>\n\n<script type=\"text/javascript\">\n    brightcove.createExperiences();\n</script>\n\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/news/panel-what-does-the-federal-budget-mean-for-you/\">Panel: What does the federal budget mean for you?</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','Panel: What does the federal budget mean for you?','<p>Did you miss our live panel? See the experts discuss here</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/news/panel-what-does-the-federal-budget-mean-for-you/\">Panel: What does the federal budget mean for you?</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','inherit','closed','closed','','1040-revision-v1','','','2016-03-22 19:22:43','2016-03-22 23:22:43','',1040,'http://feedwordpress.radgeek.com/?rev=885b294ac424c2601d640f28c854e553',0,'revision','',0),(1335,1,'2016-02-13 22:39:06','2016-02-13 22:39:06','DescriptionKBB\'s coverage of the 2017 Chevrolet Trax at the 2016 Chicago Auto Show. \n\nKelley Blue Book is your source for new car reviews, auto show coverage, features, comparison tests, and technology reviews. Subscribe to catch all the latest Kelley Blue Book videos. http://www.youtube.com/subscription_center?add_user=kbb','2017 Chevrolet Trax - 2016 Chicago Auto Show','','publish','open','open','','2017-chevrolet-trax-2016-chicago-auto-show','','','2016-02-13 22:39:06','2016-02-13 22:39:06','',0,'http://www.l2ocredit.com/2016/02/13/2017-chevrolet-trax-2016-chicago-auto-show/',0,'post','',0),(1336,0,'2016-03-23 16:54:42','2016-03-23 20:54:42','','2017 Chevrolet Trax &#8211; 2016 Chicago Auto Show','','inherit','open','closed','','2017-chevrolet-trax-2016-chicago-auto-show-2','','','2016-03-23 16:54:42','2016-03-23 20:54:42','',1335,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2017-chevrolet-trax-2016-chicago-auto-show-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(1337,0,'2016-03-23 16:54:42','2016-03-23 20:54:42','','2017 Chevrolet Trax &#8211; 2016 Chicago Auto Show','','inherit','open','closed','','2017-chevrolet-trax-2016-chicago-auto-show-3','','','2016-03-23 16:54:42','2016-03-23 20:54:42','',1335,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2017-chevrolet-trax-2016-chicago-auto-show-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(1338,0,'2016-03-23 16:54:42','2016-03-23 20:54:42','','2017 Chevrolet Trax &#8211; 2016 Chicago Auto Show','','inherit','open','closed','','2017-chevrolet-trax-2016-chicago-auto-show-4','','','2016-03-23 16:54:42','2016-03-23 20:54:42','',1335,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2017-chevrolet-trax-2016-chicago-auto-show-youtube-thumbnail-2.jpg',0,'attachment','image/jpeg',0),(1339,1,'2016-01-26 22:58:40','2016-01-26 22:58:40','MotoMan drives the 2016 Cadillac CT6 sedan with the 404 HP 3.0 Twin Turbo V6. In a break from the usual, the car’s Chief Engineer, Travis Hester, throws MotoMan out of the studio and decides to talk tech about his own car leaving the driving impressions, high technology and interior bits to MotoMan. Together they tell the story of a Cadillac unlike any other Cadillac that has come before it . . .\n\nFor more information, check out our TECH REVIEW: https://www.youtube.com/watch?v=d5azRg3PfoM&amp;list=PLF6ek7dWy48rriuQI9OjyiLvXA1R2UPKf&amp;index=2\n\nMotoMan. Ordinary Car Guy. Extraordinary Adventures\n\nTWICE A WEEK, MotoMan you on car guy adventures like going behind the scenes and hands on at factories, design studios and race tracks to unique driving experiences – everything from the latest cars to military prototype vehicles.\n\nEACH MONTH, MotoMan has an informal discussion with the key people shaping the car industry in front of a live studio &amp; Internet streamed audience. Connect with us via Facebook &amp; Twitter for a full schedule: \n\nSubscribe now to experience our adventures in the car world.\nhttp://www.youtube.com/subscription_c...\n\nCheck out our Cadillac Playlist:\nhttps://www.youtube.com/playlist?list...\n\nFacebook - http://www.facebook.com/MotoManTV\nTwitter - http://twitter.com/MotoManTV\nInstagram – http://instagram.com/motomantv\n\nWebsite - http://www.MotoMan.TV','2016 Cadillac CT6 3.0 Twin Turbo FIRST DRIVE REVIEW  (2 of 3)','','publish','open','open','','2016-cadillac-ct6-3-0-twin-turbo-first-drive-review-2-of-3','','','2016-01-26 22:58:40','2016-01-26 22:58:40','',0,'http://www.l2ocredit.com/2016/01/26/2016-cadillac-ct6-3-0-twin-turbo-first-drive-review-2-of-3/',0,'post','',0),(1340,0,'2016-03-23 17:35:29','2016-03-23 21:35:29','','2016 Cadillac CT6 3.0 Twin Turbo FIRST DRIVE REVIEW  (2 of 3)','','inherit','open','closed','','2016-cadillac-ct6-3-0-twin-turbo-first-drive-review-2-of-3-2','','','2016-03-23 17:35:29','2016-03-23 21:35:29','',1339,'http://www.l2ocredit.com/2016/01/26/2016-cadillac-ct6-3-0-twin-turbo-first-drive-review-2-of-3/2016-cadillac-ct6-3-0-twin-turbo-first-drive-review-2-of-3-2/',0,'attachment','image/jpeg',0),(1341,1,'2016-03-23 16:05:52','2016-03-23 20:05:52','<div itemscope=\"itemscope\" itemtype=\"http://schema.org/VideoObject\">\n\n        <meta itemprop=\"duration\" content=\"PT3M52S\" />\n        <meta itemprop=\"description\" content=\"\" />\n    \n    <div style=\"display: none;\"></div>\n\n    <script type=\"text/javascript\" src=\"http://admin.brightcove.com/js/BrightcoveExperiences.js\"></script>\n    <script type=\"text/javascript\" src=\"http://admin.brightcove.com/js/api/SmartPlayerAPI.js\"></script>\n\n    <object id=\"myExperience4814497533001\" class=\"BrightcoveExperience\">\n        <param name=\"bgcolor\" value=\"#FFFFFF\" />\n        <param name=\"width\" value=\"640\" />\n        <param name=\"height\" value=\"360\" />\n        <param name=\"playerID\" value=\"2659807263001\" />\n        <param name=\"playerKey\" value=\"AQ~~,AAAAAyz2WOE~,aVUQ6mHrguBSAk3aprArcQ8EfouzY6bY\" />\n        <param name=\"isVid\" value=\"true\" />\n        <param name=\"isUI\" value=\"true\" />\n        <param name=\"dynamicStreaming\" value=\"true\" />\n        <param name=\"includeAPI\" value=\"true\" />\n        <param name=\"templateLoadHandler\" value=\"onTemplateLoad\" />\n        <param name=\"templateReadyHandler\" value=\"onTemplateReady\" />\n        <param name=\"@videoPlayer\" value=\"4814497533001\" />\n                <param name=\"adServerURL\" value=\"http://pubads.g.doubleclick.net/gampad/ads?sz=640x360&amp;iu=%2F7326%2Frogers.publishing%2Fmoneysense.CPGBusiness%2Fvideos&amp;ciu_szs=728x90%2C300x250&amp;impl=s&amp;gdfp_req=1&amp;env=vp&amp;output=xml_vast2&amp;ad_rule=1&amp;unviewed_position_start=1&amp;cmsid=1464\" />\n                <param name=\"linkBaseURL\" value=\"http://www.moneysense.ca/news/the-key-takeaway-from-the-federal-budget/\" />\n        <param name=\"autoStart\" value=\"false\" />\n        <param name=\"wmode\" value=\"transparent\" />\n    </object>\n\n</div>\n\n<script type=\"text/javascript\">\n    brightcove.createExperiences();\n</script>\n\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/news/the-key-takeaway-from-the-federal-budget/\">The key takeaway from the federal budget</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','The key takeaway from the federal budget','<p>Budget 2016 was aimed at the middle class. Romana King shares why</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/news/the-key-takeaway-from-the-federal-budget/\">The key takeaway from the federal budget</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','pending','closed','closed','','','','','2016-03-23 16:05:52','2016-03-23 20:05:52','',0,'http://www.moneysense.ca/?p=150838',0,'post','',0),(1342,1,'2016-03-23 16:05:52','2016-03-23 20:05:52','<div itemscope=\"itemscope\" itemtype=\"http://schema.org/VideoObject\">\n\n        <meta itemprop=\"duration\" content=\"PT3M52S\" />\n        <meta itemprop=\"description\" content=\"\" />\n    \n    <div style=\"display: none;\"></div>\n\n    <script type=\"text/javascript\" src=\"http://admin.brightcove.com/js/BrightcoveExperiences.js\"></script>\n    <script type=\"text/javascript\" src=\"http://admin.brightcove.com/js/api/SmartPlayerAPI.js\"></script>\n\n    <object id=\"myExperience4814497533001\" class=\"BrightcoveExperience\">\n        <param name=\"bgcolor\" value=\"#FFFFFF\" />\n        <param name=\"width\" value=\"640\" />\n        <param name=\"height\" value=\"360\" />\n        <param name=\"playerID\" value=\"2659807263001\" />\n        <param name=\"playerKey\" value=\"AQ~~,AAAAAyz2WOE~,aVUQ6mHrguBSAk3aprArcQ8EfouzY6bY\" />\n        <param name=\"isVid\" value=\"true\" />\n        <param name=\"isUI\" value=\"true\" />\n        <param name=\"dynamicStreaming\" value=\"true\" />\n        <param name=\"includeAPI\" value=\"true\" />\n        <param name=\"templateLoadHandler\" value=\"onTemplateLoad\" />\n        <param name=\"templateReadyHandler\" value=\"onTemplateReady\" />\n        <param name=\"@videoPlayer\" value=\"4814497533001\" />\n                <param name=\"adServerURL\" value=\"http://pubads.g.doubleclick.net/gampad/ads?sz=640x360&amp;iu=%2F7326%2Frogers.publishing%2Fmoneysense.CPGBusiness%2Fvideos&amp;ciu_szs=728x90%2C300x250&amp;impl=s&amp;gdfp_req=1&amp;env=vp&amp;output=xml_vast2&amp;ad_rule=1&amp;unviewed_position_start=1&amp;cmsid=1464\" />\n                <param name=\"linkBaseURL\" value=\"http://www.moneysense.ca/news/the-key-takeaway-from-the-federal-budget/\" />\n        <param name=\"autoStart\" value=\"false\" />\n        <param name=\"wmode\" value=\"transparent\" />\n    </object>\n\n</div>\n\n<script type=\"text/javascript\">\n    brightcove.createExperiences();\n</script>\n\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/news/the-key-takeaway-from-the-federal-budget/\">The key takeaway from the federal budget</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','The key takeaway from the federal budget','<p>Budget 2016 was aimed at the middle class. Romana King shares why</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/news/the-key-takeaway-from-the-federal-budget/\">The key takeaway from the federal budget</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','inherit','closed','closed','','1341-revision-v1','','','2016-03-23 16:05:52','2016-03-23 20:05:52','',1341,'http://feedwordpress.radgeek.com/?rev=ab05920cb4eeb1b949888d918521abfa',0,'revision','',0),(1343,1,'2016-03-23 06:15:57','2016-03-23 10:15:57','<p><a href=\"http://www.moneysense.ca/tag/budget-2016/\" rel=\"attachment wp-att-150316\"><img class=\"alignnone size-full wp-image-150316\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg\" alt=\"Budget 2016 banner V2\" width=\"885\" height=\"300\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-300x102.jpg 300w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-768x260.jpg 768w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-660x224.jpg 660w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg 885w\" sizes=\"(max-width: 885px) 100vw, 885px\" /></a></p>\n\n        <meta itemprop=\"duration\" content=\"PT17M48S\" />\n        <meta itemprop=\"thumbnailUrl\" content=\"http://www.moneysense.ca/wp-content/uploads/2016/03/parliament-hill2_401-150x150.jpg\" />\n        <meta itemprop=\"name\" content=\"Panel: What does the federal budget mean for you?\" />\n        <meta itemprop=\"description\" content=\"Did you miss our live panel? See the experts discuss here\" />\n        <meta itemprop=\"uploadDate\" content=\"2016-03-22T19:22:43+00:00\" />\n    \n    <div style=\"display: none;\"></div>\n\n    <script type=\"text/javascript\" src=\"http://admin.brightcove.com/js/BrightcoveExperiences.js\"></script>\n    <script type=\"text/javascript\" src=\"http://admin.brightcove.com/js/api/SmartPlayerAPI.js\"></script>\n\n    <object id=\"myExperience4812788644001\" class=\"BrightcoveExperience\">\n        <param name=\"bgcolor\" value=\"#FFFFFF\" />\n        <param name=\"width\" value=\"640\" />\n        <param name=\"height\" value=\"360\" />\n        <param name=\"playerID\" value=\"2659807263001\" />\n        <param name=\"playerKey\" value=\"AQ~~,AAAAAyz2WOE~,aVUQ6mHrguBSAk3aprArcQ8EfouzY6bY\" />\n        <param name=\"isVid\" value=\"true\" />\n        <param name=\"isUI\" value=\"true\" />\n        <param name=\"dynamicStreaming\" value=\"true\" />\n        <param name=\"includeAPI\" value=\"true\" />\n        <param name=\"templateLoadHandler\" value=\"onTemplateLoad\" />\n        <param name=\"templateReadyHandler\" value=\"onTemplateReady\" />\n        <param name=\"@videoPlayer\" value=\"4812788644001\" />\n                <param name=\"adServerURL\" value=\"http://pubads.g.doubleclick.net/gampad/ads?sz=640x360&amp;iu=%2F7326%2Frogers.publishing%2Fmoneysense.CPGBusiness%2Fvideos&amp;ciu_szs=728x90%2C300x250&amp;impl=s&amp;gdfp_req=1&amp;env=vp&amp;output=xml_vast2&amp;ad_rule=1&amp;unviewed_position_start=1&amp;cmsid=1464\" />\n                <param name=\"linkBaseURL\" value=\"http://www.moneysense.ca/news/panel-what-does-the-federal-budget-mean-for-you/\" />\n        <param name=\"autoStart\" value=\"true\" />\n        <param name=\"wmode\" value=\"transparent\" />\n    </object>\n\n\n<script type=\"text/javascript\">\n    brightcove.createExperiences();\n</script>\n\n<p>The federal budget made some important tax changes for families.  The good news is that the much rumoured increase to the capital gains inclusions rate did not come to fruition in this budget,  and the anticipated changes to stock option benefits have been deferred for now. But if you’ve invested in corporate class mutual funds, you&#8217;ll want to do any switching between funds on a tax-free basis now until September as that special tax-free treatment will disappear.</p>\n<p>Charities will also wince at the cancellation of a provision expected to begin in 2017, introduced in the last budget. That is, the donation of sales proceeds from a qualifying private corporate or real estate dispositions will no longer qualify for a capital gains exemption if proceeds are donated to charity.</p>\n<p><strong>Live chat:</strong> <a href=\"http://www.moneysense.ca/news/live-chat-your-federal-budget-questions-answered/\">Have questions? Tune in to our live chat and our experts will answer</a></p>\n<p><strong>Tool:</strong> <a href=\"http://www.budget.gc.ca/2016/tool-outil/ccb-ace-en.html\" >Finance Canada has a nifty calculator that determines your benefits</a></p>\n<p>Families will be happy with the introduction of the <strong>Canada Child Benefit (CCB)</strong>, which is a refundable credit based on family net income. Specifically, the new CCB provides a maximum benefit of $6400 per child under age of six and $5400 per child age six to 17.</p>\n<p>How much you get is based on 2015 family net income, which is determined on the tax return (2015) currently being filed.  So be sure to dig for every deduction that reduces your net income on Line 236.  Also, a tip for the future:  RRSP planning for families is extremely important as clawback zones can bring marginal tax rates well over 50% in some cases:</p>\n<table>\n<tbody>\n<tr>\n<td></td>\n<td colspan=\"2\">Current Clawback Rules</td>\n</tr>\n<tr>\n<td>Income</td>\n<td>MTR(tax)</td>\n<td>MTR with clawbacks</td>\n</tr>\n<tr>\n<td>$30,000</td>\n<td>20.05%</td>\n<td>20.05%</td>\n</tr>\n<tr>\n<td>$40,000</td>\n<td>20.05%</td>\n<td>40.10%</td>\n</tr>\n<tr>\n<td><strong>$50,000</strong></td>\n<td><strong>29.65%</strong></td>\n<td><strong>51.15%</strong></td>\n</tr>\n<tr>\n<td><strong>$60,000</strong></td>\n<td><strong>29.65%</strong></td>\n<td><strong>51.15%</strong></td>\n</tr>\n<tr>\n<td><strong>$70,000</strong></td>\n<td><strong>29.65%</strong></td>\n<td><strong>51.15%</strong></td>\n</tr>\n<tr>\n<td><strong>$80,000</strong></td>\n<td><strong>31.48%</strong></td>\n<td><strong>72.48%</strong></td>\n</tr>\n<tr>\n<td><strong>$90,000</strong></td>\n<td><strong>37.91%</strong></td>\n<td><strong>58.41%</strong></td>\n</tr>\n<tr>\n<td><strong>$100,000</strong></td>\n<td><strong>43.41%</strong></td>\n<td><strong>63.91%</strong></td>\n</tr>\n<tr>\n<td><strong>$110,000</strong></td>\n<td><strong>43.41%</strong></td>\n<td><strong>63.91%</strong></td>\n</tr>\n<tr>\n<td>$120,000</td>\n<td>43.41%</td>\n<td>43.41%</td>\n</tr>\n<tr>\n<td>$130,000</td>\n<td>43.41%</td>\n<td>43.41%</td>\n</tr>\n<tr>\n<td>$140,000</td>\n<td>43.41%</td>\n<td>43.41%</td>\n</tr>\n<tr>\n<td>$150,000</td>\n<td>46.41%</td>\n<td>46.41%</td>\n</tr>\n<tr>\n<td>$160,000</td>\n<td>47.97%</td>\n<td>47.97%</td>\n</tr>\n<tr>\n<td>$170,000</td>\n<td>47.97%</td>\n<td>47.97%</td>\n</tr>\n<tr>\n<td>$180,000</td>\n<td>47.97%</td>\n<td>47.97%</td>\n</tr>\n<tr>\n<td>$190,000</td>\n<td>47.97%</td>\n<td>47.97%</td>\n</tr>\n<tr>\n<td>$200,000</td>\n<td>47.97%</td>\n<td>47.97%</td>\n</tr>\n<tr>\n<td><strong>$210,000</strong></td>\n<td><strong>51.97%</strong></td>\n<td><strong>51.97%</strong></td>\n</tr>\n<tr>\n<td><strong>$220,000</strong></td>\n<td><strong>51.97%</strong></td>\n<td><strong>51.97%</strong></td>\n</tr>\n<tr>\n<td><strong>$220,000+</strong></td>\n<td><strong>53.53%</strong></td>\n<td><strong>53.53%</strong></td>\n</tr>\n</tbody>\n</table>\n<p>Do refugees get the benefits?  Foreign-born individuals who are Indians and not Canadian citizens and permanent residents under the Immigration and Refugee Protection Act may legally reside in Canada and receive the CCB. A new limitation is being introduced with regard to eligibility for retroactive payments. Currently individuals may apply for CCTB and Universal Child Care Benefit (UCCB) as far back as the introduction of the programs. Income-tax based credits, however, are limited to a 10-year limitation. Retroactive application of UCCB and CTB will align after 2016, to the 10-year limitation.</p>\n<p>Unfortunately, there is no non-refundable tax credit for minor children for those who do not qualify for the income-tested benefits. This was removed when the previous government introduced the UCCB enhancements and the Family Tax Cut.</p>\n<p>Other non-refundable tax credits will be removed as well:  the education/textbook amounts will disappear, as will the refundable children’s fitness credit.</p>\n<p><strong>Read:</strong> <a href=\"http://www.macleans.ca/politics/ottawa/child-care-benefit-as-promised/\" >Is the Canada Child Benefit fair?</a></p>\n<h3><strong>The Canada Child Benefit: See how it affects you </strong></h3>\n<p>The changes the Liberal government has introduced for families has varying result, depending on family net income, how many children the family has, and whether they are under six or six to 17. We did some calculations at Knowledge Bureau to see how families fare in 2016.</p>\n<p>The key learnings are that while middle-income families are generously rewarded with the combination of tax rate reductions and enhanced refundable tax credits, but their marginal tax rates increase significantly as incomes rise to an upper middle class range:  50% for income levels between $70,000 and $80,000 and over<strong> 67% </strong>for income levels between $90,000 and $120,000.<strong> </strong>This makes RRSP planning a must for those families in order to reduce family net income below the $70,000 threshold.</p>\n<p>Let’s look now at the effects of the changes on a low-income family. In this case, net family income is $30,000 and there are three little children in the family – each under six:</p>\n<p><strong>Scenario: Ontario family has three children under 6 and family net income of $30,000</strong></p>\n<table>\n<tbody>\n<tr>\n<td></td>\n<td colspan=\"3\">Both work ($15K each)</td>\n<td colspan=\"3\">One Works ($30K)</td>\n</tr>\n<tr>\n<td></td>\n<td>Old Rules</td>\n<td>New Rules</td>\n<td>Difference</td>\n<td>Old Rules</td>\n<td>New Rules</td>\n<td>Difference</td>\n</tr>\n<tr>\n<td>Earned Income</td>\n<td>$30,000</td>\n<td>$30,000</td>\n<td>$0</td>\n<td>$30,000</td>\n<td>$30,000</td>\n<td>$0</td>\n</tr>\n<tr>\n<td>&#8211; Federal Tax</td>\n<td>1,318</td>\n<td>454</td>\n<td>+864</td>\n<td>1,466</td>\n<td>602</td>\n<td>+864</td>\n</tr>\n<tr>\n<td>&#8211; Provincial Tax</td>\n<td>0</td>\n<td>0</td>\n<td>0</td>\n<td>0</td>\n<td>0</td>\n<td>0</td>\n</tr>\n<tr>\n<td>= Net After Tax</td>\n<td>$28,682</td>\n<td>$29,546</td>\n<td>+$864</td>\n<td>$28,534</td>\n<td>$29,398</td>\n<td>+$864</td>\n</tr>\n<tr>\n<td>+ UCCB</td>\n<td>5,760</td>\n<td>0</td>\n<td>-5,760</td>\n<td>5,760</td>\n<td>0</td>\n<td>-5,760</td>\n</tr>\n<tr>\n<td>+ CTB</td>\n<td>9,656</td>\n<td>19,200</td>\n<td>+9,544</td>\n<td>9,656</td>\n<td>19,200</td>\n<td>+9,544</td>\n</tr>\n<tr>\n<td>+ GSTC</td>\n<td>987</td>\n<td>987</td>\n<td>0</td>\n<td>987</td>\n<td>987</td>\n<td>0</td>\n</tr>\n<tr>\n<td>+ Prov CTB</td>\n<td>3,324</td>\n<td>3,324</td>\n<td>0</td>\n<td>3,324</td>\n<td>3,324</td>\n<td>0</td>\n</tr>\n<tr>\n<td>= Total Income</td>\n<td>$48,409</td>\n<td>$53,057</td>\n<td>+$4,648</td>\n<td>$48,261</td>\n<td>$52,909</td>\n<td>+$4,648</td>\n</tr>\n<tr>\n<td>Monthly Income</td>\n<td>$4,034</td>\n<td>$4,421</td>\n<td>+$387</td>\n<td>$4,022</td>\n<td>$4,409</td>\n<td>+$387</td>\n</tr>\n</tbody>\n</table>\n<p><em>Source: Knowledge Bureau, Inc.</em></p>\n<p><strong>Conclusions:</strong></p>\n<ul>\n<li>Under the new rules a low-income family with three children will be better off by almost $400 per month.</li>\n<li>This family has after-tax income of $4,409 per month.</li>\n<li>Whether single-earner or two working spouses makes little difference.</li>\n<li>The tax system added 75% to earned income under the new rules with one earner.</li>\n</ul>\n<h3>Higher Income Earners</h3>\n<p>Now let’s take a look at the amount of <strong>Canada Child Benefit</strong> receivable and resulting marginal tax rates at higher income levels. The scenario is the following: Ontario family has three children under 6 and various family net income levels below.  But in this case one spouse is working. First let’s take a look at the old rules:</p>\n<p><strong>Table 1: Old Rules</strong></p>\n<table>\n<tbody>\n<tr>\n<td width=\"71\">Income</td>\n<td width=\"68\">Income Tax</td>\n<td width=\"67\">UCCB</td>\n<td width=\"67\">CTB</td>\n<td width=\"65\">GSTC</td>\n<td width=\"71\">After Tax</td>\n<td width=\"59\">Effective Tax Rate</td>\n</tr>\n<tr>\n<td width=\"71\">$30,000</td>\n<td width=\"68\">$1,466</td>\n<td width=\"67\">$5,760</td>\n<td width=\"67\">$9,656</td>\n<td width=\"65\">$987</td>\n<td width=\"71\">$44,937</td>\n<td width=\"59\">-50%</td>\n</tr>\n<tr>\n<td width=\"71\">$40,000</td>\n<td width=\"68\">3,406</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">6,140</td>\n<td width=\"65\">652</td>\n<td width=\"71\">$49,146</td>\n<td width=\"59\">-23%</td>\n</tr>\n<tr>\n<td width=\"71\">$50,000</td>\n<td width=\"68\">6,101</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">4,385</td>\n<td width=\"65\">152</td>\n<td width=\"71\">$54,196</td>\n<td width=\"59\">-8%</td>\n</tr>\n<tr>\n<td width=\"71\">$60,000</td>\n<td width=\"68\">9,165</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">3,985</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$60,580</td>\n<td width=\"59\">-1%</td>\n</tr>\n<tr>\n<td width=\"71\">$70,000</td>\n<td width=\"68\">12,280</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">3,585</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$67,065</td>\n<td width=\"59\">+4%</td>\n</tr>\n<tr>\n<td width=\"71\">$80,000</td>\n<td width=\"68\">15,549</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">3,185</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$73,396</td>\n<td width=\"59\">+8%</td>\n</tr>\n<tr>\n<td width=\"71\">$90,000</td>\n<td width=\"68\">19,014</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">2,785</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$79,531</td>\n<td width=\"59\">+12%</td>\n</tr>\n<tr>\n<td width=\"71\">$100,000</td>\n<td width=\"68\">23,268</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">2,385</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$84,877</td>\n<td width=\"59\">+15%</td>\n</tr>\n<tr>\n<td width=\"71\">$110,000</td>\n<td width=\"68\">27,609</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">1,985</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$90,136</td>\n<td width=\"59\">+18%</td>\n</tr>\n<tr>\n<td width=\"71\">$120,000</td>\n<td width=\"68\">31,949</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">1,585</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$95,396</td>\n<td width=\"59\">+21%</td>\n</tr>\n<tr>\n<td width=\"71\">$130,000</td>\n<td width=\"68\">36,291</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">1,185</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$100,654</td>\n<td width=\"59\">+23%</td>\n</tr>\n<tr>\n<td width=\"71\">$140,000</td>\n<td width=\"68\">40,632</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">785</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$105,913</td>\n<td width=\"59\">+24%</td>\n</tr>\n<tr>\n<td width=\"71\">$150,000</td>\n<td width=\"68\">45,261</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">385</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$110,884</td>\n<td width=\"59\">+26%</td>\n</tr>\n<tr>\n<td width=\"71\">$160,000</td>\n<td width=\"68\">50,058</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">0</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$115,702</td>\n<td width=\"59\">+28%</td>\n</tr>\n</tbody>\n</table>\n<p><em>©2016 Knowledge Bureau, Inc.  All Rights Reserved.</em></p>\n<p>Note that negative figures represent an excess of benefits received over taxes payable. Below, we take a look at what happens under the new rules with our three-child family. We note taxes payable are netted out with eligible refundable tax credits, and compare the results to the old rules.</p>\n<p><strong>Table 2: New Rules</strong></p>\n<table>\n<tbody>\n<tr>\n<td width=\"67\">Income</td>\n<td width=\"50\">Income Tax</td>\n<td width=\"35\">UCCB</td>\n<td width=\"43\">CCB</td>\n<td width=\"43\">GSTC</td>\n<td width=\"57\">Net Tax</td>\n<td width=\"47\">Effective Tax Rate</td>\n<td width=\"59\">Difference</td>\n<td width=\"29\">% Diff</td>\n<td width=\"46\">MTR</td>\n</tr>\n<tr>\n<td width=\"67\">$30,000</td>\n<td width=\"50\">$602</td>\n<td width=\"35\">$0</td>\n<td width=\"43\">$19,200</td>\n<td width=\"43\">$987</td>\n<td width=\"57\">$49,585</td>\n<td width=\"47\">-65%</td>\n<td width=\"59\">$4,648</td>\n<td width=\"29\">15%</td>\n<td width=\"46\">15%</td>\n</tr>\n<tr>\n<td width=\"67\">$40,000</td>\n<td width=\"50\">3,406</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$17,300</td>\n<td width=\"43\">652</td>\n<td width=\"57\">$54,546</td>\n<td width=\"47\">-36%</td>\n<td width=\"59\">$5,400</td>\n<td width=\"29\">14%</td>\n<td width=\"46\">43.15%</td>\n</tr>\n<tr>\n<td width=\"67\">$50,000</td>\n<td width=\"50\">6,030</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$15,400</td>\n<td width=\"43\">152</td>\n<td width=\"57\">$59,522</td>\n<td width=\"47\">-19%</td>\n<td width=\"59\">$5,326</td>\n<td width=\"29\">11%</td>\n<td width=\"46\">48.65%</td>\n</tr>\n<tr>\n<td width=\"67\">$60,000</td>\n<td width=\"50\">8,944</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$13,500</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$64,556</td>\n<td width=\"47\">-8%</td>\n<td width=\"59\">$3,976</td>\n<td width=\"29\">7%</td>\n<td width=\"46\">48.65%</td>\n</tr>\n<tr>\n<td width=\"67\">$70,000</td>\n<td width=\"50\">11,909</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$12,150</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$70,241</td>\n<td width=\"47\">0%</td>\n<td width=\"59\">$3,176</td>\n<td width=\"29\">5%</td>\n<td width=\"46\">37.15%</td>\n</tr>\n<tr>\n<td width=\"67\">$80,000</td>\n<td width=\"50\">15,028</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$11,350</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$76,322</td>\n<td width=\"47\">5%</td>\n<td width=\"59\">$2,926</td>\n<td width=\"29\">4%</td>\n<td width=\"46\">39.48%</td>\n</tr>\n<tr>\n<td width=\"67\">$90,000</td>\n<td width=\"50\">18,343</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$10,550</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$82,207</td>\n<td width=\"47\">9%</td>\n<td width=\"59\">$2,676</td>\n<td width=\"29\">3%</td>\n<td width=\"46\">45.91%</td>\n</tr>\n<tr>\n<td width=\"67\">$100,000</td>\n<td width=\"50\">22,588</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$9,750</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$87,162</td>\n<td width=\"47\">13%</td>\n<td width=\"59\">$2,285</td>\n<td width=\"29\">2%</td>\n<td width=\"46\">51.41%</td>\n</tr>\n<tr>\n<td width=\"67\">$110,000</td>\n<td width=\"50\">26,929</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$8,950</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$92,021</td>\n<td width=\"47\">16%</td>\n<td width=\"59\">$1,885</td>\n<td width=\"29\">2%</td>\n<td width=\"46\">51.41%</td>\n</tr>\n<tr>\n<td width=\"67\">$120,000</td>\n<td width=\"50\">31,370</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$8,150</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$96,780</td>\n<td width=\"47\">19%</td>\n<td width=\"59\">$1,384</td>\n<td width=\"29\">1%</td>\n<td width=\"46\">51.41%</td>\n</tr>\n<tr>\n<td width=\"67\">$130,000</td>\n<td width=\"50\">35,611</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$7,350</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$101,739</td>\n<td width=\"47\">22%</td>\n<td width=\"59\">$1,085</td>\n<td width=\"29\">1%</td>\n<td width=\"46\">51.41%</td>\n</tr>\n<tr>\n<td width=\"67\">$140,000</td>\n<td width=\"50\">39,952</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$6,550</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$106,598</td>\n<td width=\"47\">24%</td>\n<td width=\"59\">$685</td>\n<td width=\"29\">0%</td>\n<td width=\"46\">51.41%</td>\n</tr>\n<tr>\n<td width=\"67\">$150,000</td>\n<td width=\"50\">44,582</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$5,750</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$111,168</td>\n<td width=\"47\">26%</td>\n<td width=\"59\">$284</td>\n<td width=\"29\">0%</td>\n<td width=\"46\">55.97%</td>\n</tr>\n<tr>\n<td width=\"67\">$160,000</td>\n<td width=\"50\">49,379</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$4,950</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$115,571</td>\n<td width=\"47\">28%</td>\n<td width=\"59\">-$131</td>\n<td width=\"29\">0%</td>\n<td width=\"46\">55.97%</td>\n</tr>\n</tbody>\n</table>\n<p><em>©2016 Knowledge Bureau, Inc.  All Rights Reserved.</em></p>\n<p><strong>Conclusions:</strong></p>\n<ul>\n<li>Family net income can be as high as $70,000 before any net tax is paid (that is, taxes payable less refundable credits received)</li>\n<li>When this family’s income reaches $160,000 it is evident that the UCCB provided more money. In addition the family’s marginal tax rate is quite high, when the clawback of the CCB is taken into account</li>\n<li>However, while high income earners received more benefits under the UCCB regime, the Canada Child Benefit delivers at least some dollars to a broader number of high income families, as illustrated with the high income cut off chart below. In fact, marginal tax rates are over 50% for income levels exceed $100,000 when we take the clawbacks into account. That makes RRSP planning important for families. The deduction of the contribution will help to reduce family net income levels. Child care expense deductions and carry charges on investments are examples of two other deductions that reduce family net income</li>\n</ul>\n<h3>High Income Cut Offs for Canada Child Benefit</h3>\n<p>The following table shows the income level at which the CCB will be eliminated for various families. The full benefit is only received up to family net income of $30,000 but the benefit is available over a surprisingly large income range.</p>\n<table>\n<tbody>\n<tr>\n<td><strong>Ages of Children</strong></td>\n<td><strong>Income Cut-Off</strong></td>\n</tr>\n<tr>\n<td>1 child under 6</td>\n<td>$188,437</td>\n</tr>\n<tr>\n<td>1 child over 6</td>\n<td>$157,187</td>\n</tr>\n<tr>\n<td>2 children, both under 6</td>\n<td>$206,667</td>\n</tr>\n<tr>\n<td>2 children, one under 6</td>\n<td>$189,123</td>\n</tr>\n<tr>\n<td>2 children, both over 5</td>\n<td>$171,579</td>\n</tr>\n<tr>\n<td>3 children all under 6</td>\n<td>$221,875</td>\n</tr>\n<tr>\n<td>3 children, two under 6</td>\n<td>$209,375</td>\n</tr>\n<tr>\n<td>3 children, one under 6</td>\n<td>$196,875</td>\n</tr>\n<tr>\n<td>3 children, all over 5</td>\n<td>$184,375</td>\n</tr>\n<tr>\n<td>4 children, all under 6</td>\n<td>$249,737</td>\n</tr>\n<tr>\n<td>4 children, three under 6</td>\n<td>$239,211</td>\n</tr>\n<tr>\n<td>4 children, two under 6</td>\n<td>$228,684</td>\n</tr>\n<tr>\n<td>4 children, one under 6</td>\n<td>$218,158</td>\n</tr>\n<tr>\n<td>4 children, all over 5</td>\n<td>$207,631</td>\n</tr>\n</tbody>\n</table>\n<h3>Single Child Families</h3>\n<p>In the following scenarios, we take a look at the results under old and new rules that focus on the removal of the UCCB in favour of the CCB and the net results for families at $30,000, $60,000 and $120,000.  In this case, there is only one child.</p>\n<table>\n<tbody>\n<tr>\n<td rowspan=\"2\"><strong>Family </strong></p>\n<p><strong>Income</strong></td>\n<td rowspan=\"2\"><strong>One</strong></p>\n<p><strong>Child</strong></td>\n<td colspan=\"4\"><strong>Old Rules</strong></td>\n<td colspan=\"4\"><strong>New Rules</strong></td>\n<td><strong> </strong></td>\n</tr>\n<tr>\n<td><strong>Income Tax</strong></td>\n<td><strong>CTB</strong></td>\n<td><strong>UCCB</strong></td>\n<td><strong>Net</strong></td>\n<td><strong>Income Tax</strong></td>\n<td><strong>CCB</strong></td>\n<td><strong>UCCB</strong></td>\n<td><strong>Net</strong></td>\n<td><strong>Difference</strong></td>\n</tr>\n<tr>\n<td><strong>$30,000</strong></td>\n<td><strong>&lt;6</strong></td>\n<td>$1,466</td>\n<td>$3,354</td>\n<td>$1,920</td>\n<td>$33,808</td>\n<td>$602</td>\n<td>$6,400</td>\n<td>$   &#8211;</td>\n<td>$35,798</td>\n<td>$1,990</td>\n</tr>\n<tr>\n<td><strong>$30,000</strong></td>\n<td><strong>&gt;5</strong></td>\n<td>$1,466</td>\n<td>$3,354</td>\n<td>$720</td>\n<td>$32,608</td>\n<td>$602</td>\n<td>$5,400</td>\n<td>$   &#8211;</td>\n<td>$34,798</td>\n<td>$2,190</td>\n</tr>\n<tr>\n<td><strong> $60,000 </strong></td>\n<td><strong>&lt;6</strong></td>\n<td>$9,506</td>\n<td>$1,195</td>\n<td>$1,920</td>\n<td>$53,609</td>\n<td>$     8,944</td>\n<td>$   4,300</td>\n<td>$     &#8211;</td>\n<td>$   55,356</td>\n<td>$1,747</td>\n</tr>\n<tr>\n<td><strong> $60,000 </strong></td>\n<td><strong>&gt;5</strong></td>\n<td>$9,273</td>\n<td>$1,195</td>\n<td>$720</td>\n<td>$52,409</td>\n<td>$     8,944</td>\n<td>$   3,300</td>\n<td>$     &#8211;</td>\n<td>$ 54,356</td>\n<td>$1,947</td>\n</tr>\n<tr>\n<td><strong> $120,000 </strong></td>\n<td><strong>&lt;6</strong></td>\n<td>$32,322</td>\n<td>$0</td>\n<td>$1,920</td>\n<td>$89,598</td>\n<td>$ 31,270</td>\n<td>$ 2,190</td>\n<td>$     &#8211;</td>\n<td>$   90,920</td>\n<td>$1,322</td>\n</tr>\n<tr>\n<td><strong> $120,000 </strong></td>\n<td><strong>&gt;5</strong></td>\n<td>$32,058</td>\n<td>$0</td>\n<td>$720</td>\n<td>$88,398</td>\n<td>$ 31,270</td>\n<td>$   1,190</td>\n<td>$     &#8211;</td>\n<td>$   89,920</td>\n<td>$1,522</td>\n</tr>\n</tbody>\n</table>\n<p>Of note is the fact that single-child families are better off with one child under the new rules at either age and across large income ranges. And that’s certainly good news!</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/save/taxes/budget-winners-and-losers-child-benefit/\">The winners and losers of the Canada Child Benefit</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','The winners and losers of the Canada Child Benefit','<p>Our tax expert crunches the numbers </p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/save/taxes/budget-winners-and-losers-child-benefit/\">The winners and losers of the Canada Child Benefit</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','inherit','closed','closed','','1014-revision-v1','','','2016-03-23 06:15:57','2016-03-23 10:15:57','',1014,'http://feedwordpress.radgeek.com/?rev=43eb35dae0325990b4c3e7d8140d8aa7',0,'revision','',0),(1344,1,'2016-03-22 19:48:29','2016-03-22 23:48:29','<p><a href=\"http://www.moneysense.ca/tag/budget-2016/\" rel=\"attachment wp-att-150316\"><img class=\"alignnone size-full wp-image-150316\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg\" alt=\"Budget 2016 banner V2\" width=\"885\" height=\"300\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-300x102.jpg 300w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-768x260.jpg 768w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-660x224.jpg 660w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg 885w\" sizes=\"(max-width: 885px) 100vw, 885px\" /></a></p>\n\n        <meta itemprop=\"duration\" content=\"PT17M48S\" />\n        <meta itemprop=\"thumbnailUrl\" content=\"http://www.moneysense.ca/wp-content/uploads/2016/03/parliament-hill2_401-150x150.jpg\" />\n        <meta itemprop=\"name\" content=\"Panel: What does the federal budget mean for you?\" />\n        <meta itemprop=\"description\" content=\"Did you miss our live panel? See the experts discuss here\" />\n        <meta itemprop=\"uploadDate\" content=\"2016-03-22T19:22:43+00:00\" />\n    \n    <div style=\"display: none;\"></div>\n\n    <script type=\"text/javascript\" src=\"http://admin.brightcove.com/js/BrightcoveExperiences.js\"></script>\n    <script type=\"text/javascript\" src=\"http://admin.brightcove.com/js/api/SmartPlayerAPI.js\"></script>\n\n    <object id=\"myExperience4812788644001\" class=\"BrightcoveExperience\">\n        <param name=\"bgcolor\" value=\"#FFFFFF\" />\n        <param name=\"width\" value=\"640\" />\n        <param name=\"height\" value=\"360\" />\n        <param name=\"playerID\" value=\"2659807263001\" />\n        <param name=\"playerKey\" value=\"AQ~~,AAAAAyz2WOE~,aVUQ6mHrguBSAk3aprArcQ8EfouzY6bY\" />\n        <param name=\"isVid\" value=\"true\" />\n        <param name=\"isUI\" value=\"true\" />\n        <param name=\"dynamicStreaming\" value=\"true\" />\n        <param name=\"includeAPI\" value=\"true\" />\n        <param name=\"templateLoadHandler\" value=\"onTemplateLoad\" />\n        <param name=\"templateReadyHandler\" value=\"onTemplateReady\" />\n        <param name=\"@videoPlayer\" value=\"4812788644001\" />\n                <param name=\"adServerURL\" value=\"http://pubads.g.doubleclick.net/gampad/ads?sz=640x360&amp;iu=%2F7326%2Frogers.publishing%2Fmoneysense.CPGBusiness%2Fvideos&amp;ciu_szs=728x90%2C300x250&amp;impl=s&amp;gdfp_req=1&amp;env=vp&amp;output=xml_vast2&amp;ad_rule=1&amp;unviewed_position_start=1&amp;cmsid=1464\" />\n                <param name=\"linkBaseURL\" value=\"http://www.moneysense.ca/news/panel-what-does-the-federal-budget-mean-for-you/\" />\n        <param name=\"autoStart\" value=\"true\" />\n        <param name=\"wmode\" value=\"transparent\" />\n    </object>\n\n\n<script type=\"text/javascript\">\n    brightcove.createExperiences();\n</script>\n\n<p>On Tuesday afternoon, Finance Minister Bill Morneau tabled his first federal budget in the House of Commons. In many ways it was a big budget (promising a $29.4 billion deficit and a plan to invest $120 billion in infrastructure spending over the next 10 years). There were also a number of line items targeted at Canadian investors. Here are three key ways that Budget 2016 impacts them:</p>\n<h3>No. 1: Investors can expect to pay more tax</h3>\n<p>Budget 2016 aims to close loopholes that some investors use to reduce tax paid to the Canada Revenue Agency (CRA). For instance, it will examine the use of “debt-parking transactions,” used by investors or private corporations in an effort to “preserve the integrity of the foreign exchange computational rules.”</p>\n<p>The Budget will also “prevent the asymmetrical recognition of gains and losses on derivatives for tax purposes,” and “prevent the deferral of capital gains tax by investors in mutual fund corporations structured as switch funds.”</p>\n<p>Also introduced in Budget 2016 is a new rule that would &#8220;effectively treat the portion of any gain realized on the sale of a linked note that is attributable to the variable return on the note as accrued interest on the note.”</p>\n<h3><strong>No. 2: The Labour-Sponsored tax credit will be reinstated</strong></h3>\n<p>Budget 2016 restores the tax credit for share purchases of provincially registered Labour-Sponsored Venture Capital Corporations to 15% for 2016 and subsequent tax years. The aim is to aid small- and medium-sized businesses, by helping them gain access to venture capital and providing federal tax relief of about $815 million through 2020–21.</p>\n<h3><strong>No. 3: The elimination of capital gains tax exemption on donations</strong></h3>\n<p>Last year&#8217;s budget included a proposal to provide an income  tax exemption on capital gains of donated private corporation shares or real estate, beginning in 2017. (To qualify, the cash proceeds from the disposition need to be donated to a registered charity or other qualified donee within 30 days.) Budget 2016 eliminates this tax exemption.</p>\n<p>&nbsp;</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/news/3-ways-the-federal-budget-will-affect-investors/\">3 ways the federal budget will affect investors</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','3 ways the federal budget will affect investors','<p>First up: They can expect to pay more tax</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/news/3-ways-the-federal-budget-will-affect-investors/\">3 ways the federal budget will affect investors</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','inherit','closed','closed','','1022-revision-v1','','','2016-03-22 19:48:29','2016-03-22 23:48:29','',1022,'http://feedwordpress.radgeek.com/?rev=d3b0680791ddfe4a67571f9d8a314660',0,'revision','',0),(1345,1,'2016-03-22 19:38:52','2016-03-22 23:38:52','<p><a href=\"http://www.moneysense.ca/tag/budget-2016/\" rel=\"attachment wp-att-150316\"><img class=\"alignnone size-full wp-image-150316\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg\" alt=\"Budget 2016 banner V2\" width=\"885\" height=\"300\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-300x102.jpg 300w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-768x260.jpg 768w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-660x224.jpg 660w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg 885w\" sizes=\"(max-width: 885px) 100vw, 885px\" /></a></p>\n\n        <meta itemprop=\"duration\" content=\"PT17M48S\" />\n        <meta itemprop=\"thumbnailUrl\" content=\"http://www.moneysense.ca/wp-content/uploads/2016/03/parliament-hill2_401-150x150.jpg\" />\n        <meta itemprop=\"name\" content=\"Panel: What does the federal budget mean for you?\" />\n        <meta itemprop=\"description\" content=\"Did you miss our live panel? See the experts discuss here\" />\n        <meta itemprop=\"uploadDate\" content=\"2016-03-22T19:22:43+00:00\" />\n    \n    <div style=\"display: none;\"></div>\n\n    <script type=\"text/javascript\" src=\"http://admin.brightcove.com/js/BrightcoveExperiences.js\"></script>\n    <script type=\"text/javascript\" src=\"http://admin.brightcove.com/js/api/SmartPlayerAPI.js\"></script>\n\n    <object id=\"myExperience4812788644001\" class=\"BrightcoveExperience\">\n        <param name=\"bgcolor\" value=\"#FFFFFF\" />\n        <param name=\"width\" value=\"640\" />\n        <param name=\"height\" value=\"360\" />\n        <param name=\"playerID\" value=\"2659807263001\" />\n        <param name=\"playerKey\" value=\"AQ~~,AAAAAyz2WOE~,aVUQ6mHrguBSAk3aprArcQ8EfouzY6bY\" />\n        <param name=\"isVid\" value=\"true\" />\n        <param name=\"isUI\" value=\"true\" />\n        <param name=\"dynamicStreaming\" value=\"true\" />\n        <param name=\"includeAPI\" value=\"true\" />\n        <param name=\"templateLoadHandler\" value=\"onTemplateLoad\" />\n        <param name=\"templateReadyHandler\" value=\"onTemplateReady\" />\n        <param name=\"@videoPlayer\" value=\"4812788644001\" />\n                <param name=\"adServerURL\" value=\"http://pubads.g.doubleclick.net/gampad/ads?sz=640x360&amp;iu=%2F7326%2Frogers.publishing%2Fmoneysense.CPGBusiness%2Fvideos&amp;ciu_szs=728x90%2C300x250&amp;impl=s&amp;gdfp_req=1&amp;env=vp&amp;output=xml_vast2&amp;ad_rule=1&amp;unviewed_position_start=1&amp;cmsid=1464\" />\n                <param name=\"linkBaseURL\" value=\"http://www.moneysense.ca/news/panel-what-does-the-federal-budget-mean-for-you/\" />\n        <param name=\"autoStart\" value=\"true\" />\n        <param name=\"wmode\" value=\"transparent\" />\n    </object>\n\n\n<script type=\"text/javascript\">\n    brightcove.createExperiences();\n</script>\n\n<p>For the first time in Canadian history, there are more seniors over the age of 65 than there are children under the age of 15. What this means is that, over time, there will be fewer Canadians working to support the overall population. Seniors issues are only going to grow in importance.</p>\n<p>With that in mind, let&#8217;s dig into what happened in this budget related to seniors. Some of it we already knew, some of it adds up to real change and some omissions are worth noting.</p>\n<p><strong>Live chat:</strong> <a href=\"http://www.moneysense.ca/news/live-chat-your-federal-budget-questions-answered/\">Have questions? Tune in to our live chat &amp; our experts will answer</a></p>\n<h3><strong>The OAS reversal</strong></h3>\n<p>As already announced, the eligibility ages of the Old Age Security program will be restored. Budget 2016 proposes to cancel the provisions in the Old Age Security Act that would have increased the age of eligibility for OAS and Guaranteed Income Supplement benefits from 65 to 67 and Allowance benefits from 60 to 62 over the 2023 to 2029 period.</p>\n<p>Restoring the eligibility age for OAS and GIS benefits to 65 will put thousands of dollars back in the pockets of Canadians as they become seniors. These benefits are an important part of the retirement income of Canadians, particularly for lower-income seniors.</p>\n<p>Vulnerable seniors depend on this support, and without it, face a much higher risk of living in poverty.</p>\n<p>This announcement by the government is basically undoing something that wasn’t due to happen until 2023. The former government put it in place and the current government took it away. Aside from adding some bureaucratic paperwork, no one was impacted by this, although it was certainly hanging over the heads of investors and their planners. Most of them will be thrilled by this reversal, even if they have to amend their financial plans to reflect this.</p>\n<h3><strong>Guaranteed Income Supplement</strong></h3>\n<p>In Canada, the retirement income system has been successful in reducing the incidence of poverty among Canadian seniors due mainly to Canada Pension Plan (CPP) and OAS. However, of those who do struggle to make ends meet in retirement, single seniors are hardest hit. They are nearly three times more likely to live in low income than seniors generally. For that reason, the federal budget offers an increase to the GIS.</p>\n<p>The federal budget promises to top up this monthly non-taxable benefit for low-income OAS recipients, by up to $947 annually, improving the financial security of about 900,000 seniors across Canada. It doubles the current maximum GIS top-up and represents a 10% increase in the total GIS benefits available to the lowest-income single seniors. A few other key facts about the supplement increase:</p>\n<ul>\n<li>It represents an investment of over $670 million per year</li>\n<li>The graduated benefits are based on income threshold of $4,600</li>\n<li>The benefits will be phased out at income of $8,400 or more</li>\n<li>Going forward, they will be calculated based on individual (not combined) incomes</li>\n</ul>\n<p>That last point is especially meaningful to senior couples who have to live apart for reasons beyond their control and who will see an even greater increase in their GIS benefits. This enhancement will help to defer the higher costs of living of maintaining two residences and reduce the risk of increased poverty.</p>\n<p>This proposed increase supports those seniors who rely almost exclusively on OAS and GIS benefits and may therefore be at risk of experiencing financial difficulties. It allows low-income single seniors more freedom of choice with their finances, while knowing they will receive a guaranteed monthly benefit that will increase with inflation over time.</p>\n<p>However, Statistics Canada has indicated that the Low Income Measure (LIM) for a single senior is $22,000 per year so there is still more work to be done on this in order to bring these 900,000 low income seniors to a reasonable, liveable income.</p>\n<p>Here are a few scenarios that illustrate the impact of the changes:</p>\n<ul>\n<li><em>Lynn is a 74-year-old resident of Montréal, Quebec, who lives alone. With no income apart from OAS and GIS benefits, she struggles to make ends meet. The increase in the GIS top-up benefit for single seniors proposed in Budget 2016 will provide Lynn with an additional $947 per year.</em></li>\n</ul>\n<ul>\n<li><em>Charles is a 68-year-old widower residing in Edmonton, Alberta. Charles receives annual CPP benefits of $5,000 along with OAS and GIS benefits. The increase in the GIS top-up benefit for single seniors proposed in Budget 2016 will provide Charles with an additional $848 per year.  </em></li>\n</ul>\n<ul>\n<li><em>Heather and David have been married for 40 years. David, age 77, receives annual CPP benefits of $3,000 and OAS and GIS bene</em><em>fits of over $12,500. Heather, age 62, has annual earnings from her part-time job of $6,000 and receives over $5,800 </em><em>in Allowance benefits. Taken together, the OAS program provides Heather and David with over $18,300 in annual income support. </em><em>David requires long-term care and Heather and David must live apart. Budget 2016 proposes to allow David and Heather to receive their GIS</em><em> and Allowance benefits based on their individual incomes, recognizing the higher costs of living that Heather and David would face </em><em>living apart. As a result of the proposed change, David would receive over $14,300 in OAS and GIS benefits. Heather would receive about $8,300 in Allowance benefits. Taken together, the OAS</em><em> program would provide annual income support of about $22,600, an increase of more than $4,000 from current levels.</em></li>\n</ul>\n<h3><strong>Affordable housing for seniors</strong></h3>\n<p>Canada’s senior population is growing, and many seniors now find it difficult to afford housing that is suitable, or that allows them to easily stay in their homes as long as possible.</p>\n<p>Budget 2016 proposes to provide $200.7 million over two years, starting in 2016–17, to support the construction, repair and adaption of affordable housing for seniors. While funding will be provided under the Investment in Affordable Housing initiative, provinces and territories will not be required to cost-match these investments. This investment is expected to help improve housing conditions for more than 5,000 low-income senior households.</p>\n<p>This initiative helps seniors to age at home which is exactly what the majority of seniors prefer but with many seniors still living in the own homes, this program will need to be more fulsome and last longer than two years to offset the impending lack of affordable and accessible housing for this demographic. The provinces and territories will need to step up with their investments to augment this new federal funding.</p>\n<p>Seniors will also be interested to know that there are commitments to improve client services at the Canada Revenue Agency. The CRA will reduce their telephone wait times, new and more easily understood correspondence, and more liaison with local volunteer groups that provide help to low income Canadians with their tax returns.  This is a welcome announcement from the CRA.</p>\n<h3><strong>What’s missing from the budget?</strong></h3>\n<p>Seniors’ groups have been asking for a national pharmacare program to ensure cross-Canada price equity and availability, extended compassionate leave and a national caregivers program, as well as a national home care strategy to allow seniors to age with dignity in their homes. So, while we&#8217;re a little further down the path–there is more room to go.</p>\n<hr />\n<p><a href=\"http://www.moneysenseapproved.com/findanadvisor/\"><img class=\"alignleft wp-image-118650\" src=\"http://www.moneysense.ca/wp-content/uploads/2015/05/Screen-Shot-2015-04-30-at-4.48.05-PM.png\" alt=\"MoneySense Approved\" width=\"250\" height=\"178\" /></a><a href=\"http://www.moneysenseapproved.com/findanadvisor/\">Find the advisor who&#8217;s right for you</a></p>\n<p>Let us match you with a trusted financial advisor who has the skills, training and approach to money &amp; investing that you need.</p>\n<p><a href=\"http://www.moneysenseapproved.com/findanadvisor/\">Try our search tool now!</a></p>\n<hr />\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/save/retirement/what-the-federal-budget-means-for-seniors/\">What the budget means for seniors</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','What the budget means for seniors','<p>A closer look at changes to OAS, GIS and spending on seniors housing</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/save/retirement/what-the-federal-budget-means-for-seniors/\">What the budget means for seniors</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','inherit','closed','closed','','1038-revision-v1','','','2016-03-22 19:38:52','2016-03-22 23:38:52','',1038,'http://feedwordpress.radgeek.com/?rev=b7645209492ec8ef7a7a7d60868c63d4',0,'revision','',0),(1346,1,'2016-03-22 19:22:43','2016-03-22 23:22:43','\n        <meta itemprop=\"duration\" content=\"PT17M48S\" />\n        <meta itemprop=\"thumbnailUrl\" content=\"http://www.moneysense.ca/wp-content/uploads/2016/03/parliament-hill2_401-150x150.jpg\" />\n        <meta itemprop=\"name\" content=\"Panel: What does the federal budget mean for you?\" />\n        <meta itemprop=\"description\" content=\"Did you miss our live panel? See the experts discuss here\" />\n        <meta itemprop=\"uploadDate\" content=\"2016-03-22T19:22:43+00:00\" />\n    \n    <div style=\"display: none;\"></div>\n\n    <script type=\"text/javascript\" src=\"http://admin.brightcove.com/js/BrightcoveExperiences.js\"></script>\n    <script type=\"text/javascript\" src=\"http://admin.brightcove.com/js/api/SmartPlayerAPI.js\"></script>\n\n    <object id=\"myExperience4812788644001\" class=\"BrightcoveExperience\">\n        <param name=\"bgcolor\" value=\"#FFFFFF\" />\n        <param name=\"width\" value=\"640\" />\n        <param name=\"height\" value=\"360\" />\n        <param name=\"playerID\" value=\"2659807263001\" />\n        <param name=\"playerKey\" value=\"AQ~~,AAAAAyz2WOE~,aVUQ6mHrguBSAk3aprArcQ8EfouzY6bY\" />\n        <param name=\"isVid\" value=\"true\" />\n        <param name=\"isUI\" value=\"true\" />\n        <param name=\"dynamicStreaming\" value=\"true\" />\n        <param name=\"includeAPI\" value=\"true\" />\n        <param name=\"templateLoadHandler\" value=\"onTemplateLoad\" />\n        <param name=\"templateReadyHandler\" value=\"onTemplateReady\" />\n        <param name=\"@videoPlayer\" value=\"4812788644001\" />\n                <param name=\"adServerURL\" value=\"http://pubads.g.doubleclick.net/gampad/ads?sz=640x360&amp;iu=%2F7326%2Frogers.publishing%2Fmoneysense.CPGBusiness%2Fvideos&amp;ciu_szs=728x90%2C300x250&amp;impl=s&amp;gdfp_req=1&amp;env=vp&amp;output=xml_vast2&amp;ad_rule=1&amp;unviewed_position_start=1&amp;cmsid=1464\" />\n                <param name=\"linkBaseURL\" value=\"http://www.moneysense.ca/news/panel-what-does-the-federal-budget-mean-for-you/\" />\n        <param name=\"autoStart\" value=\"true\" />\n        <param name=\"wmode\" value=\"transparent\" />\n    </object>\n\n\n<script type=\"text/javascript\">\n    brightcove.createExperiences();\n</script>\n\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/news/panel-what-does-the-federal-budget-mean-for-you/\">Panel: What does the federal budget mean for you?</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','Panel: What does the federal budget mean for you?','<p>Did you miss our live panel? See the experts discuss here</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/news/panel-what-does-the-federal-budget-mean-for-you/\">Panel: What does the federal budget mean for you?</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','inherit','closed','closed','','1040-revision-v1','','','2016-03-22 19:22:43','2016-03-22 23:22:43','',1040,'http://feedwordpress.radgeek.com/?rev=2ede7815f063fd8f5a5fe6605f0672de',0,'revision','',0),(1347,1,'2016-01-24 01:43:36','2016-01-24 01:43:36','Since the Maxima slots between the average mid-size sedan and the average full-size sedan in terms of overall size, the child seat capacity comes, you guessed it, right in the middle of things.\n\nMore videos: http://goo.gl/Kj1FlI\nBest cars in 2016: http://goo.gl/3xAVJi\nUpcoming reviews: http://goo.gl/pLtP6U\nAOA on Facebook: http://goo.gl/a47Cu1\n\nThe Mountain Garden: http://goo.gl/icFWcd','2016 Nissan Maxima Child Seat Review','','publish','open','open','','2016-nissan-maxima-child-seat-review','','','2016-01-24 01:43:36','2016-01-24 01:43:36','',0,'http://www.l2ocredit.com/2016/01/24/2016-nissan-maxima-child-seat-review/',0,'post','',0),(1348,0,'2016-03-23 17:51:30','2016-03-23 21:51:30','','2016 Nissan Maxima Child Seat Review','','inherit','open','closed','','2016-nissan-maxima-child-seat-review-2','','','2016-03-23 17:51:30','2016-03-23 21:51:30','',1347,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-nissan-maxima-child-seat-review-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(1349,0,'2016-03-23 17:51:30','2016-03-23 21:51:30','','2016 Nissan Maxima Child Seat Review','','inherit','open','closed','','2016-nissan-maxima-child-seat-review-3','','','2016-03-23 17:51:30','2016-03-23 21:51:30','',1347,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-nissan-maxima-child-seat-review-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(1350,0,'2016-03-23 17:51:30','2016-03-23 21:51:30','','2016 Nissan Maxima Child Seat Review','','inherit','open','closed','','2016-nissan-maxima-child-seat-review-4','','','2016-03-23 17:51:30','2016-03-23 21:51:30','',1347,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-nissan-maxima-child-seat-review-youtube-thumbnail-2.jpg',0,'attachment','image/jpeg',0),(1351,1,'2016-01-10 13:47:34','2016-01-10 13:47:34','The Volkswagen Beetle Dune is a fun take on the iconic VW bug shape. With a practical hatchback design , this is a practical and fun car, plus a the Beetle Dune is a slightly more rugged version. With a rough road suspension, this compact car has a higher ride height and a unique look. \n\nCompetitors to the VW Beetle Dune are the Fiat 500X, Honda HR-V,  Subaru Crosstrek, Jeep Renegade, Jeep Patriot, Ford Escape, Jeep Compass, Honda HR-V, Mitsubishi Outlander, Mazda CX-3, Fiat 500X, Chevy Trax, Chevrolet Trax, Nissan Rogue, Nissan Juke, Mazda CX-5, Mazda CX-3, Hyundai Tucson, Kia Sportage, Subaru Forester, Mini Countryman, Honda CR-V, Toyota RAV4, Buick Encore, Volkswagen Tiguan, VW Tiguan, BMW X1, Audi Q3, BMW X3, Chevy Equinox, Chevy Trax, Dodge Journey, Fiat 500X, Fiat 500, Ford Escape, Mazda5, Honda CR-V, Hyundai Tucson, Nissan Juke, Subaru Forester, Toyota RAV4, \n\n\nTwitter: https://twitter.com/MotormouthCDN\nFacebook: http://tinyurl.com/motormouthfb\nMotormouth: http://www.motormouth.ca/\nSubscribe: http://tinyurl.com/motormouthsubscribe\nZack Spencer\nZach Spencer\nCanadian Car Review\nMotormouth Canada','2016 VW Beetle Dune Review','','publish','open','open','','2016-vw-beetle-dune-review','','','2016-01-10 13:47:34','2016-01-10 13:47:34','',0,'http://www.l2ocredit.com/2016/01/10/2016-vw-beetle-dune-review/',0,'post','',0),(1352,0,'2016-03-23 19:36:18','2016-03-23 23:36:18','','2016 VW Beetle Dune Review','','inherit','open','closed','','2016-vw-beetle-dune-review-2','','','2016-03-23 19:36:18','2016-03-23 23:36:18','',1351,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-vw-beetle-dune-review-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(1353,0,'2016-03-23 19:36:18','2016-03-23 23:36:18','','2016 VW Beetle Dune Review','','inherit','open','closed','','2016-vw-beetle-dune-review-3','','','2016-03-23 19:36:18','2016-03-23 23:36:18','',1351,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-vw-beetle-dune-review-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(1354,1,'2016-02-08 13:09:57','2016-02-08 13:09:57','Like Us on Facebook! https://www.facebook.com/pages/Camero... \nFollow Us on Instagram: cameronscarreviews \nSnapchat: camscarreviews \nCamerons Car Reviews Score: 5/5 \nPowertrain Options: 3.6 L V6 or a 5.7 L Hemi V8 with a 8-Speed Automatic 4x2 or 4x4 \nEngine &amp; Performance\nBASE ENGINE SIZE 3.6 L \nCAM TYPE Double overhead cam (DOHC)\nCYLINDERS V6 \nVALVES 24\nVALVE TIMING Variable \nTORQUE 260 ft-lbs. @ 4800 rpm\nHORSEPOWER 290 hp @ 6400 rpm \nTURNING CIRCLE 37.1 ft. \nCompetitors: Ford Edge, Toyota 4Runner, Kia Sorento','2016 Jeep Grand Cherokee Laredo 3.6 L V6 Review | Camerons Car Reviews','','publish','open','open','','2016-jeep-grand-cherokee-laredo-3-6-l-v6-review-camerons-car-reviews','','','2016-02-08 13:09:57','2016-02-08 13:09:57','',0,'http://www.l2ocredit.com/2016/02/08/2016-jeep-grand-cherokee-laredo-3-6-l-v6-review-camerons-car-reviews/',0,'post','',0),(1355,0,'2016-03-23 20:01:41','2016-03-24 00:01:41','','2016 Jeep Grand Cherokee Laredo 3.6 L V6 Review | Camerons Car Reviews','','inherit','open','closed','','2016-jeep-grand-cherokee-laredo-3-6-l-v6-review-camerons-car-reviews-2','','','2016-03-23 20:01:41','2016-03-24 00:01:41','',1354,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-jeep-grand-cherokee-laredo-3-6-l-v6-review-camerons-car-reviews-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(1356,0,'2016-03-23 20:01:41','2016-03-24 00:01:41','','2016 Jeep Grand Cherokee Laredo 3.6 L V6 Review | Camerons Car Reviews','','inherit','open','closed','','2016-jeep-grand-cherokee-laredo-3-6-l-v6-review-camerons-car-reviews-3','','','2016-03-23 20:01:41','2016-03-24 00:01:41','',1354,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-jeep-grand-cherokee-laredo-3-6-l-v6-review-camerons-car-reviews-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(1357,1,'2016-02-13 20:46:25','2016-02-13 20:46:25','KBB\'s coverage of the Chevrolet Camaro 1LE at the 2016 Chicago Auto Show. \n\nKelley Blue Book is your source for new car reviews, auto show coverage, features, comparison tests, and technology reviews. Subscribe to catch all the latest Kelley Blue Book videos. http://www.youtube.com/subscription_center?add_user=kbb','2017 Chevrolet Camaro 1LE - 2016 Chicago Auto Show','','publish','open','open','','2017-chevrolet-camaro-1le-2016-chicago-auto-show','','','2016-02-13 20:46:25','2016-02-13 20:46:25','',0,'http://www.l2ocredit.com/2016/02/13/2017-chevrolet-camaro-1le-2016-chicago-auto-show/',0,'post','',0),(1358,0,'2016-03-23 20:30:57','2016-03-24 00:30:57','','2017 Chevrolet Camaro 1LE &#8211; 2016 Chicago Auto Show','','inherit','open','closed','','2017-chevrolet-camaro-1le-2016-chicago-auto-show-2','','','2016-03-23 20:30:57','2016-03-24 00:30:57','',1357,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2017-chevrolet-camaro-1le-2016-chicago-auto-show-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(1359,0,'2016-03-23 20:30:58','2016-03-24 00:30:58','','2017 Chevrolet Camaro 1LE &#8211; 2016 Chicago Auto Show','','inherit','open','closed','','2017-chevrolet-camaro-1le-2016-chicago-auto-show-3','','','2016-03-23 20:30:58','2016-03-24 00:30:58','',1357,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2017-chevrolet-camaro-1le-2016-chicago-auto-show-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(1360,1,'2016-01-23 14:00:00','2016-01-23 14:00:00','MotoMan drives the 2016 Audi TT – the latest of MANY cars we have driven based on the Volkswagen group MQB platform. While the engineering and driving dynamics are of utmost importance to us car guys and gals, MotoMan demonstrates a very active use case of the Audi Virtual Cockpit first shared in the TECH REVIEW of the 2016 Audi TT – but in this use case – we take it to where it wasn’t meant to go: Canyon Roads  . . .\n\nMotoMan. Ordinary Car Guy. Extraordinary Adventures\n\nTWICE A WEEK, MotoMan you on car guy adventures like going behind the scenes and hands on at factories, design studios and race tracks to unique driving experiences – everything from the latest cars to military prototype vehicles.\n\nEACH MONTH, MotoMan has an informal discussion with the key people shaping the car industry in front of a live studio &amp; Internet streamed audience. Connect with us via Facebook &amp; Twitter for a full schedule: \n\nSubscribe now to experience our adventures in the car world.\nhttp://www.youtube.com/subscription_center?add_user=motomantv\n\nCheck out our Audi playlist:\nhttps://www.youtube.com/playlist?list=PLF6ek7dWy48qRB40yT9aPR38GIOfB1Nxl\n\nFacebook - http://www.facebook.com/MotoManTV\nTwitter - http://twitter.com/MotoManTV\nInstagram – http://instagram.com/motomantv\n\nWebsite - http://www.MotoMan.TV\n\nNEW MUSIC including Son of a Rocket and Raw by Kevin MacLeod/incompetech.com &amp; Jahzzar','2016 Audi TT FIRST DRIVE REVIEW','','publish','open','open','','2016-audi-tt-first-drive-review','','','2016-01-23 14:00:00','2016-01-23 14:00:00','',0,'http://www.l2ocredit.com/2016/01/23/2016-audi-tt-first-drive-review/',0,'post','',0),(1361,0,'2016-03-23 21:32:23','2016-03-24 01:32:23','','2016 Audi TT FIRST DRIVE REVIEW','','inherit','open','closed','','2016-audi-tt-first-drive-review-2','','','2016-03-23 21:32:23','2016-03-24 01:32:23','',1360,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-audi-tt-first-drive-review-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(1362,0,'2016-03-23 21:32:23','2016-03-24 01:32:23','','2016 Audi TT FIRST DRIVE REVIEW','','inherit','open','closed','','2016-audi-tt-first-drive-review-3','','','2016-03-23 21:32:23','2016-03-24 01:32:23','',1360,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-audi-tt-first-drive-review-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(1363,1,'2016-01-22 02:15:34','2016-01-22 02:15:34','More videos: http://goo.gl/Kj1FlI\nBest cars in 2016: http://goo.gl/3xAVJi\nUpcoming reviews: http://goo.gl/pLtP6U\nAOA on Facebook: http://goo.gl/a47Cu1\n\nThe Mountain Garden: http://goo.gl/icFWcd','2016 Honda Civic Review and Road Test - DETAILED in 4K UHD!','','publish','open','open','','2016-honda-civic-review-and-road-test-detailed-in-4k-uhd','','','2016-01-22 02:15:34','2016-01-22 02:15:34','',0,'http://www.l2ocredit.com/2016/01/22/2016-honda-civic-review-and-road-test-detailed-in-4k-uhd/',0,'post','',0),(1364,0,'2016-03-23 21:56:02','2016-03-24 01:56:02','','2016 Honda Civic Review and Road Test &#8211; DETAILED in 4K UHD!','','inherit','open','closed','','2016-honda-civic-review-and-road-test-detailed-in-4k-uhd-2','','','2016-03-23 21:56:02','2016-03-24 01:56:02','',1363,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-honda-civic-review-and-road-test-detailed-in-4k-uhd-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(1365,0,'2016-03-23 21:56:02','2016-03-24 01:56:02','','2016 Honda Civic Review and Road Test &#8211; DETAILED in 4K UHD!','','inherit','open','closed','','2016-honda-civic-review-and-road-test-detailed-in-4k-uhd-3','','','2016-03-23 21:56:02','2016-03-24 01:56:02','',1363,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-honda-civic-review-and-road-test-detailed-in-4k-uhd-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(1366,0,'2016-03-23 21:56:02','2016-03-24 01:56:02','','2016 Honda Civic Review and Road Test &#8211; DETAILED in 4K UHD!','','inherit','open','closed','','2016-honda-civic-review-and-road-test-detailed-in-4k-uhd-4','','','2016-03-23 21:56:02','2016-03-24 01:56:02','',1363,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-honda-civic-review-and-road-test-detailed-in-4k-uhd-youtube-thumbnail-2.jpg',0,'attachment','image/jpeg',0),(1367,1,'2015-12-16 14:00:00','2015-12-16 14:00:00','The Golf R is a sports car in a practical hatchback disguise. Full article: http://wp.me/p3LQCT-YH1\n\nFollow Driving!\nTwitter: https://twitter.com/drivingdotca\nInstagram: http://instagram.com/drivingca\nFacebook: https://www.facebook.com/drivingdotca','Car Review | 2016 Volkswagen Golf R | Driving.ca','','publish','open','open','','car-review-2016-volkswagen-golf-r-driving-ca','','','2015-12-16 14:00:00','2015-12-16 14:00:00','',0,'http://www.l2ocredit.com/2015/12/16/car-review-2016-volkswagen-golf-r-driving-ca/',0,'post','',0),(1368,0,'2016-03-23 22:18:45','2016-03-24 02:18:45','','Car Review | 2016 Volkswagen Golf R | Driving.ca','','inherit','open','closed','','car-review-2016-volkswagen-golf-r-driving-ca-2','','','2016-03-23 22:18:45','2016-03-24 02:18:45','',1367,'http://www.l2ocredit.com/wp-content/uploads/2016/03/car-review-2016-volkswagen-golf-r-driving-ca-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(1369,0,'2016-03-23 22:18:46','2016-03-24 02:18:46','','Car Review | 2016 Volkswagen Golf R | Driving.ca','','inherit','open','closed','','car-review-2016-volkswagen-golf-r-driving-ca-3','','','2016-03-23 22:18:46','2016-03-24 02:18:46','',1367,'http://www.l2ocredit.com/wp-content/uploads/2016/03/car-review-2016-volkswagen-golf-r-driving-ca-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(1370,1,'2015-10-06 16:59:51','2015-10-06 16:59:51','Ferrari sharpens up their most affordable model, giving it more of the family’s essence than ever before.','2015 Ferrari California T','','publish','open','open','','2015-ferrari-california-t','','','2015-10-06 16:59:51','2015-10-06 16:59:51','',0,'http://www.l2ocredit.com/2015/10/06/2015-ferrari-california-t/',0,'post','',0),(1371,0,'2016-03-23 22:36:07','2016-03-24 02:36:07','','2015 Ferrari California T','','inherit','open','closed','','2015-ferrari-california-t-2','','','2016-03-23 22:36:07','2016-03-24 02:36:07','',1370,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2015-ferrari-california-t-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(1372,0,'2016-03-23 22:36:07','2016-03-24 02:36:07','','2015 Ferrari California T','','inherit','open','closed','','2015-ferrari-california-t-3','','','2016-03-23 22:36:07','2016-03-24 02:36:07','',1370,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2015-ferrari-california-t-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(1373,1,'2016-01-02 20:20:06','2016-01-02 20:20:06','The Fiat 500X is an all-new subcompact crossover, or SUV, to enter the market. This small SUV has room for 5-passengers and is available with all wheel drive, or AWD. The Fiat 500X shares the same platform as the Jeep Renegade and is offered with two engines, a 1.4L turbo 4-cylinder or a 2.4L 4-cylinder. The Fiat 500X crossover is fun to drive and brings some Italian flair to everyday driving. \n\nCompetitors to the Fiat 500X are the Honda HR-V,  Subaru Crosstrek, Jeep Renegade, Jeep Patriot, Ford Escape, Jeep Compass, Honda HR-V, Mitsubishi Outlander, Mazda CX-3, Fiat 500X, Chevy Trax, Chevrolet Trax, Nissan Rogue, Nissan Juke, Mazda CX-5, Mazda CX-3, Hyundai Tucson, Kia Sportage, Subaru Forester, Mini Countryman, Honda CR-V, Toyota RAV4, Buick Encore, Volkswagen Tiguan, VW Tiguan, BMW X1, Audi Q3, BMW X3, Chevy Equinox, Chevy Trax, Dodge Journey, Fiat 500X, Fiat 500, Ford Escape, Mazda5, Honda CR-V, Hyundai Tucson, Nissan Juke, Subaru Forester, Toyota RAV4, \n\n\nTwitter: https://twitter.com/MotormouthCDN\nFacebook: http://tinyurl.com/motormouthfb\nMotormouth: http://www.motormouth.ca/\nSubscribe: http://tinyurl.com/motormouthsubscribe\nZack Spencer\nZach Spencer\nCanadian Car Review\nMotormouth Canada','2016 Fiat 500X Review','','publish','open','open','','2016-fiat-500x-review','','','2016-01-02 20:20:06','2016-01-02 20:20:06','',0,'http://www.l2ocredit.com/2016/01/02/2016-fiat-500x-review/',0,'post','',0),(1374,0,'2016-03-23 22:55:35','2016-03-24 02:55:35','','2016 Fiat 500X Review','','inherit','open','closed','','2016-fiat-500x-review-2','','','2016-03-23 22:55:35','2016-03-24 02:55:35','',1373,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-fiat-500x-review-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(1375,0,'2016-03-23 22:55:35','2016-03-24 02:55:35','','2016 Fiat 500X Review','','inherit','open','closed','','2016-fiat-500x-review-3','','','2016-03-23 22:55:35','2016-03-24 02:55:35','',1373,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-fiat-500x-review-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(1376,1,'2016-02-04 20:45:45','2016-02-04 20:45:45','Like Us on Facebook! https://www.facebook.com/pages/Camerons-Car-Reviews/349462695066112?ref=hl \nFollow Us on Instagram: cameronscarreviews \nSnapchat: camscarreviews','Scion Comes to an End, Toyota CH-R, 2018 Hyundai Sonata- CCR','','publish','open','open','','scion-comes-to-an-end-toyota-ch-r-2018-hyundai-sonata-ccr','','','2016-02-04 20:45:45','2016-02-04 20:45:45','',0,'http://www.l2ocredit.com/2016/02/04/scion-comes-to-an-end-toyota-ch-r-2018-hyundai-sonata-ccr/',0,'post','',0),(1377,0,'2016-03-23 23:11:31','2016-03-24 03:11:31','','Scion Comes to an End, Toyota CH-R, 2018 Hyundai Sonata- CCR','','inherit','open','closed','','scion-comes-to-an-end-toyota-ch-r-2018-hyundai-sonata-ccr-2','','','2016-03-23 23:11:31','2016-03-24 03:11:31','',1376,'http://www.l2ocredit.com/wp-content/uploads/2016/03/scion-comes-to-an-end-toyota-ch-r-2018-hyundai-sonata-ccr-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(1378,0,'2016-03-23 23:11:31','2016-03-24 03:11:31','','Scion Comes to an End, Toyota CH-R, 2018 Hyundai Sonata- CCR','','inherit','open','closed','','scion-comes-to-an-end-toyota-ch-r-2018-hyundai-sonata-ccr-3','','','2016-03-23 23:11:31','2016-03-24 03:11:31','',1376,'http://www.l2ocredit.com/wp-content/uploads/2016/03/scion-comes-to-an-end-toyota-ch-r-2018-hyundai-sonata-ccr-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(1379,0,'2016-03-23 23:11:31','2016-03-24 03:11:31','','Scion Comes to an End, Toyota CH-R, 2018 Hyundai Sonata- CCR','','inherit','open','closed','','scion-comes-to-an-end-toyota-ch-r-2018-hyundai-sonata-ccr-4','','','2016-03-23 23:11:31','2016-03-24 03:11:31','',1376,'http://www.l2ocredit.com/wp-content/uploads/2016/03/scion-comes-to-an-end-toyota-ch-r-2018-hyundai-sonata-ccr-youtube-thumbnail-2.jpg',0,'attachment','image/jpeg',0),(1380,1,'2016-02-11 11:00:00','2016-02-11 11:00:00','The Cadillac ATS-V is fast around a racetrack; that much we know. But which transmission is the better choice? \n\nKelley Blue Book is your source for new car reviews, auto show coverage, features, and comparison tests. Subscribe to catch all the latest Kelley Blue Book videos. http://www.youtube.com/subscription_center?add_user=kbb\n\nTo follow Zach Vlasuk on Twitter, please visit: http://www.twitter.com/zachvlasuk\n\nTo follow Micah Muzio on Twitter, please visit: http://www.twitter.com/micahmuzio','2016 Cadillac ATS-V - Manual or Automatic?','','publish','open','open','','2016-cadillac-ats-v-manual-or-automatic','','','2016-02-11 11:00:00','2016-02-11 11:00:00','',0,'http://www.l2ocredit.com/2016/02/11/2016-cadillac-ats-v-manual-or-automatic/',0,'post','',0),(1381,0,'2016-03-23 23:31:08','2016-03-24 03:31:08','','2016 Cadillac ATS-V &#8211; Manual or Automatic?','','inherit','open','closed','','2016-cadillac-ats-v-manual-or-automatic-2','','','2016-03-23 23:31:08','2016-03-24 03:31:08','',1380,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-cadillac-ats-v-manual-or-automatic-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(1382,0,'2016-03-23 23:31:08','2016-03-24 03:31:08','','2016 Cadillac ATS-V &#8211; Manual or Automatic?','','inherit','open','closed','','2016-cadillac-ats-v-manual-or-automatic-3','','','2016-03-23 23:31:08','2016-03-24 03:31:08','',1380,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-cadillac-ats-v-manual-or-automatic-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(1383,1,'2016-01-21 14:00:03','2016-01-21 14:00:03','The long anticipated and much discussed 2016 Cadillac CT6 turns up on our doorstep in the California Republic just in time for a MAJOR rainstorm but that does not deter MotoMan from presenting a TECH REVIEW of the new large Cadillac sedan. Using the 2016 Cadillac CT6 3.0 V6 Twin Turbo from the coming full FIRST DRIVE REVIEW episode as a stand in for all Cadillac CT6 models – he lays out the different engines and bits that affect driving dynamics but in a first for a TECH REVIEW, things don’t end up as planned . . .\n\nFor more information on the Cadillac CT6 - check out our FIRST DRIVE REVIEW: https://www.youtube.com/watch?v=tRFlN...\n\nMotoMan. Ordinary Car Guy. Extraordinary Adventures\n\nTWICE A WEEK, MotoMan you on car guy adventures like going behind the scenes and hands on at factories, design studios and race tracks to unique driving experiences – everything from the latest cars to military prototype vehicles.\n\nEACH MONTH, MotoMan has an informal discussion with the key people shaping the car industry in front of a live studio &amp; Internet streamed audience. Connect with us via Facebook &amp; Twitter for a full schedule: \n\nSubscribe now to experience our adventures in the car world.\nhttp://www.youtube.com/subscription_c...\n\nCheck out our Cadillac Playlist:\nhttps://www.youtube.com/playlist?list...\n\nFacebook - http://www.facebook.com/MotoManTV\nTwitter - http://twitter.com/MotoManTV\nInstagram – http://instagram.com/motomantv\n\nWebsite - http://www.MotoMan.TV','2016 Cadillac CT6 TECH REVIEW  (1 of 3)','','publish','open','open','','2016-cadillac-ct6-tech-review-1-of-3','','','2016-01-21 14:00:03','2016-01-21 14:00:03','',0,'http://www.l2ocredit.com/2016/01/21/2016-cadillac-ct6-tech-review-1-of-3/',0,'post','',0),(1384,0,'2016-03-24 00:11:20','2016-03-24 04:11:20','','2016 Cadillac CT6 TECH REVIEW  (1 of 3)','','inherit','open','closed','','2016-cadillac-ct6-tech-review-1-of-3-2','','','2016-03-24 00:11:20','2016-03-24 04:11:20','',1383,'http://www.l2ocredit.com/2016/01/21/2016-cadillac-ct6-tech-review-1-of-3/2016-cadillac-ct6-tech-review-1-of-3-2/',0,'attachment','image/jpeg',0),(1385,1,'2016-01-21 02:59:15','2016-01-21 02:59:15','More videos: http://goo.gl/Kj1FlI\nBest cars in 2016: http://goo.gl/3xAVJi\nUpcoming reviews: http://goo.gl/pLtP6U\nAOA on Facebook: http://goo.gl/a47Cu1\n\nThe Mountain Garden: http://goo.gl/icFWcd','2016 Honda Civic Infotainment Review With CarPlay &amp; Android Auto','','publish','open','open','','2016-honda-civic-infotainment-review-with-carplay-android-auto','','','2016-01-21 02:59:15','2016-01-21 02:59:15','',0,'http://www.l2ocredit.com/2016/01/21/2016-honda-civic-infotainment-review-with-carplay-android-auto/',0,'post','',0),(1386,0,'2016-03-24 00:27:19','2016-03-24 04:27:19','','2016 Honda Civic Infotainment Review With CarPlay &amp; Android Auto','','inherit','open','closed','','2016-honda-civic-infotainment-review-with-carplay-android-auto-2','','','2016-03-24 00:27:19','2016-03-24 04:27:19','',1385,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-honda-civic-infotainment-review-with-carplay-android-auto-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(1387,0,'2016-03-24 00:27:19','2016-03-24 04:27:19','','2016 Honda Civic Infotainment Review With CarPlay &amp; Android Auto','','inherit','open','closed','','2016-honda-civic-infotainment-review-with-carplay-android-auto-2','','','2016-03-24 00:27:19','2016-03-24 04:27:19','',1385,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-honda-civic-infotainment-review-with-carplay-android-auto-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(1388,0,'2016-03-24 00:27:19','2016-03-24 04:27:19','','2016 Honda Civic Infotainment Review With CarPlay &amp; Android Auto','','inherit','open','closed','','2016-honda-civic-infotainment-review-with-carplay-android-auto-2','','','2016-03-24 00:27:19','2016-03-24 04:27:19','',1385,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-honda-civic-infotainment-review-with-carplay-android-auto-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(1389,0,'2016-03-24 00:27:19','2016-03-24 04:27:19','','2016 Honda Civic Infotainment Review With CarPlay &amp; Android Auto','','inherit','open','closed','','2016-honda-civic-infotainment-review-with-carplay-android-auto-2','','','2016-03-24 00:27:19','2016-03-24 04:27:19','',1385,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-honda-civic-infotainment-review-with-carplay-android-auto-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(1390,0,'2016-03-24 00:27:19','2016-03-24 04:27:19','','2016 Honda Civic Infotainment Review With CarPlay &amp; Android Auto','','inherit','open','closed','','2016-honda-civic-infotainment-review-with-carplay-android-auto-2','','','2016-03-24 00:27:19','2016-03-24 04:27:19','',1385,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-honda-civic-infotainment-review-with-carplay-android-auto-youtube-thumbnail-2.jpg',0,'attachment','image/jpeg',0),(1391,0,'2016-03-24 00:27:19','2016-03-24 04:27:19','','2016 Honda Civic Infotainment Review With CarPlay &amp; Android Auto','','inherit','open','closed','','2016-honda-civic-infotainment-review-with-carplay-android-auto-3','','','2016-03-24 00:27:19','2016-03-24 04:27:19','',1385,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-honda-civic-infotainment-review-with-carplay-android-auto-youtube-thumbnail-3.jpg',0,'attachment','image/jpeg',0),(1392,0,'2016-03-24 00:27:20','2016-03-24 04:27:20','','2016 Honda Civic Infotainment Review With CarPlay &amp; Android Auto','','inherit','open','closed','','2016-honda-civic-infotainment-review-with-carplay-android-auto-4','','','2016-03-24 00:27:20','2016-03-24 04:27:20','',1385,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-honda-civic-infotainment-review-with-carplay-android-auto-youtube-thumbnail-4.jpg',0,'attachment','image/jpeg',0),(1393,1,'2015-12-09 13:58:05','2015-12-09 13:58:05','It might look like it escaped from the Jetsons but this little three-wheeler was Ralph Hough\'s every day vehicle from 1962 to 1965. Full Article: http://wp.me/p3LQCT-YqN\n\nFollow Driving!\nTwitter: https://twitter.com/drivingdotca\nInstagram: http://instagram.com/drivingca\nFacebook: https://www.facebook.com/drivingdotca','Classic Car | 1961 Messerchmitt KR200 | Driving.ca','','publish','open','open','','classic-car-1961-messerchmitt-kr200-driving-ca','','','2015-12-09 13:58:05','2015-12-09 13:58:05','',0,'http://www.l2ocredit.com/2015/12/09/classic-car-1961-messerchmitt-kr200-driving-ca/',0,'post','',0),(1394,0,'2016-03-24 00:54:42','2016-03-24 04:54:42','','Classic Car | 1961 Messerchmitt KR200 | Driving.ca','','inherit','open','closed','','classic-car-1961-messerchmitt-kr200-driving-ca-2','','','2016-03-24 00:54:42','2016-03-24 04:54:42','',1393,'http://www.l2ocredit.com/wp-content/uploads/2016/03/classic-car-1961-messerchmitt-kr200-driving-ca-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(1395,0,'2016-03-24 00:54:42','2016-03-24 04:54:42','','Classic Car | 1961 Messerchmitt KR200 | Driving.ca','','inherit','open','closed','','classic-car-1961-messerchmitt-kr200-driving-ca-3','','','2016-03-24 00:54:42','2016-03-24 04:54:42','',1393,'http://www.l2ocredit.com/wp-content/uploads/2016/03/classic-car-1961-messerchmitt-kr200-driving-ca-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(1396,1,'2015-09-29 23:09:18','2015-09-29 23:09:18','The sub-compact crossover segment gains a sports car.','2016 Mazda CX-3 Grand Touring','','publish','open','open','','2016-mazda-cx-3-grand-touring','','','2015-09-29 23:09:18','2015-09-29 23:09:18','',0,'http://www.l2ocredit.com/2015/09/29/2016-mazda-cx-3-grand-touring/',0,'post','',0),(1397,0,'2016-03-24 01:11:09','2016-03-24 05:11:09','','2016 Mazda CX-3 Grand Touring','','inherit','open','closed','','2016-mazda-cx-3-grand-touring-2','','','2016-03-24 01:11:09','2016-03-24 05:11:09','',1396,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-mazda-cx-3-grand-touring-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(1398,0,'2016-03-24 01:11:09','2016-03-24 05:11:09','','2016 Mazda CX-3 Grand Touring','','inherit','open','closed','','2016-mazda-cx-3-grand-touring-3','','','2016-03-24 01:11:09','2016-03-24 05:11:09','',1396,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-mazda-cx-3-grand-touring-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(1399,1,'2015-12-12 01:28:47','2015-12-12 01:28:47','The 2016 Jaguar XF is an all-new mid-sized luxury sedan build out of 75% aluminum. It shares a similar chassis to the upcoming Jaguar XE and F-Pace SUV. This 5-passenger sporty sedan is sold with two supercharged V6 engines and soon an optional 4-cylinder diesel, plus it is available with all wheel drive, or AWD.\n\n\nCompetitors to the Jaguar XF are the Audi A7,  Tesla Model S, Mercedes E-Class, Mercedes S-Class, Mercedes GLE, Mercedes, Mercedes GL, Mercedes G, BMW 5 Series, BMW 7 Series, BMW 6 Series, BMW X5, BMW i8, BMW i3, Audi A6, Audi A7, Audi A8, Audi Q5, Audi Q6, Audi Q7, Audi E-tron, Audi electric SUV, Volvo XC60, Volvo XC90, Lexus LS450h, Lexus GS, Lexus LX, Infiniti Q70, Infiniti QX70, Acura RL, Acura RLX, Jaguar XF, Jaguar XJ, Jaguar F-Pace, Jaguar XE, Cadillac CTS, Cadillac ELR, cadillac CT6, Genesis, Aston Martin, Porsche Panamera, Lincoln MKS, Lincoln MKC, Lincoln MKZ, Land Rover Discovery Sport, Land Rover Discovery, Range Rover Sport, Range Rover, \n\n\nTwitter: https://twitter.com/MotormouthCDN\nFacebook: http://tinyurl.com/motormouthfb\nMotormouth: http://www.motormouth.ca/\nSubscribe: http://tinyurl.com/motormouthsubscribe\nZack Spencer\nZach Spencer\nCanadian Car Review\nMotormouth Canada','2016 Jaguar XF Review','','publish','open','open','','2016-jaguar-xf-review','','','2015-12-12 01:28:47','2015-12-12 01:28:47','',0,'http://www.l2ocredit.com/2015/12/12/2016-jaguar-xf-review/',0,'post','',0),(1400,0,'2016-03-24 01:26:15','2016-03-24 05:26:15','','2016 Jaguar XF Review','','inherit','open','closed','','2016-jaguar-xf-review-2','','','2016-03-24 01:26:15','2016-03-24 05:26:15','',1399,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-jaguar-xf-review-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(1401,0,'2016-03-24 01:26:15','2016-03-24 05:26:15','','2016 Jaguar XF Review','','inherit','open','closed','','2016-jaguar-xf-review-2','','','2016-03-24 01:26:15','2016-03-24 05:26:15','',1399,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-jaguar-xf-review-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(1402,1,'2016-02-04 00:35:33','2016-02-04 00:35:33','Like Us on Facebook! https://www.facebook.com/pages/Camerons-Car-Reviews/349462695066112?ref=hl \nFollow Us on Instagram: cameronscarreviews \nSnapchat: camscarreviews \nCamerons Car Reviews Score: 5/5 \nPowertrain Options: 3.5 L V6 with a 6-Speed Automatic FWD or AWD  \nFuel\nENGINE TYPE Gas \nFUEL TYPE Regular unleaded\nFUEL TANK CAPACITY 20.0 gal. \nRANGE IN MILES (CTY/HWY) 360.0/500.0 mi.\nEPA MILEAGE EST. (CTY/HWY) 18/25 mpg \nEngine &amp; Performance\nBASE ENGINE SIZE 3.5 L CAM TYPE Double overhead cam (DOHC)\nCYLINDERS V6 \nVALVES 24\nVALVE TIMING Variable \nTORQUE 245 ft-lbs. @ 4700 rpm\nHORSEPOWER 266 hp @ 6200 rpm \nTURNING CIRCLE 37.5 ft. \nWarranty\nBASIC 3 yr./ 36000 mi. \nDRIVETRAIN 5 yr./ 60000 mi.\nFREE MAINTENANCE 2 yr./ 25000 mi. \nCompetitors: Honda Odyssey, Nissan Quest, Chrysler Town &amp; Country, Dodge Gran Caravan','2016 Toyota Sienna SE 3.5 L V6 Review | Camerons Car Reviews','','publish','open','open','','2016-toyota-sienna-se-3-5-l-v6-review-camerons-car-reviews','','','2016-02-04 00:35:33','2016-02-04 00:35:33','',0,'http://www.l2ocredit.com/2016/02/04/2016-toyota-sienna-se-3-5-l-v6-review-camerons-car-reviews/',0,'post','',0),(1403,0,'2016-03-24 01:42:21','2016-03-24 05:42:21','','2016 Toyota Sienna SE 3.5 L V6 Review | Camerons Car Reviews','','inherit','open','closed','','2016-toyota-sienna-se-3-5-l-v6-review-camerons-car-reviews-2','','','2016-03-24 01:42:21','2016-03-24 05:42:21','',1402,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-toyota-sienna-se-3-5-l-v6-review-camerons-car-reviews-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(1404,0,'2016-03-24 01:42:21','2016-03-24 05:42:21','','2016 Toyota Sienna SE 3.5 L V6 Review | Camerons Car Reviews','','inherit','open','closed','','2016-toyota-sienna-se-3-5-l-v6-review-camerons-car-reviews-2','','','2016-03-24 01:42:21','2016-03-24 05:42:21','',1402,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-toyota-sienna-se-3-5-l-v6-review-camerons-car-reviews-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(1405,1,'2016-01-19 14:00:00','2016-01-19 14:00:00','MotoMan goes on a deep tech dive of the 2016 Audi TT and yes goes through the engines – which we have seen before in another Audi and even a VW – some bits that lead to driving dynamics but then he focuses on the most important bit of this car and for Audi as a whole – and it’s not what you think  . . .\n\nMotoMan. Ordinary Car Guy. Extraordinary Adventures\n\nTWICE A WEEK, MotoMan you on car guy adventures like going behind the scenes and hands on at factories, design studios and race tracks to unique driving experiences – everything from the latest cars to military prototype vehicles.\n\nEACH MONTH, MotoMan has an informal discussion with the key people shaping the car industry in front of a live studio &amp; Internet streamed audience. Connect with us via Facebook &amp; Twitter for a full schedule: \n\nSubscribe now to experience our adventures in the car world.\nhttp://www.youtube.com/subscription_center?add_user=motomantv\n\nCheck out our Audi playlist:\nhttps://www.youtube.com/playlist?list=PLF6ek7dWy48qRB40yT9aPR38GIOfB1Nxl\n\nFacebook - http://www.facebook.com/MotoManTV\nTwitter - http://twitter.com/MotoManTV\nInstagram – http://instagram.com/motomantv\n\nWebsite - http://www.MotoMan.TV\n\nNEW MUSIC including Son of a Rocket and Raw by Kevin MacLeod/incompetech.com &amp; Jahzzar','2016 Audi TT TECH REVIEW','','publish','open','open','','2016-audi-tt-tech-review','','','2016-01-19 14:00:00','2016-01-19 14:00:00','',0,'http://www.l2ocredit.com/2016/01/19/2016-audi-tt-tech-review/',0,'post','',0),(1406,0,'2016-03-24 02:40:51','2016-03-24 06:40:51','','2016 Audi TT TECH REVIEW','','inherit','open','closed','','2016-audi-tt-tech-review-2','','','2016-03-24 02:40:51','2016-03-24 06:40:51','',1405,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-audi-tt-tech-review-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(1407,1,'2016-01-20 17:16:09','2016-01-20 17:16:09','The 2016 Civic is bigger than ever and that brings more room for child seats in the back. \n\nMore videos: http://goo.gl/Kj1FlI\nBest cars in 2016: http://goo.gl/3xAVJi\nUpcoming reviews: http://goo.gl/pLtP6U\nAOA on Facebook: http://goo.gl/a47Cu1\n\nThe Mountain Garden: http://goo.gl/icFWcd','2016 Honda Civic Child Seat Review','','publish','open','open','','2016-honda-civic-child-seat-review','','','2016-01-20 17:16:09','2016-01-20 17:16:09','',0,'http://www.l2ocredit.com/2016/01/20/2016-honda-civic-child-seat-review/',0,'post','',0),(1408,0,'2016-03-24 02:56:48','2016-03-24 06:56:48','','2016 Honda Civic Child Seat Review','','inherit','open','closed','','2016-honda-civic-child-seat-review-2','','','2016-03-24 02:56:48','2016-03-24 06:56:48','',1407,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-honda-civic-child-seat-review-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(1409,0,'2016-03-24 02:56:48','2016-03-24 06:56:48','','2016 Honda Civic Child Seat Review','','inherit','open','closed','','2016-honda-civic-child-seat-review-2','','','2016-03-24 02:56:48','2016-03-24 06:56:48','',1407,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-honda-civic-child-seat-review-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(1410,0,'2016-03-24 02:56:48','2016-03-24 06:56:48','','2016 Honda Civic Child Seat Review','','inherit','open','closed','','2016-honda-civic-child-seat-review-2','','','2016-03-24 02:56:48','2016-03-24 06:56:48','',1407,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-honda-civic-child-seat-review-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(1411,0,'2016-03-24 02:56:49','2016-03-24 06:56:49','','2016 Honda Civic Child Seat Review','','inherit','open','closed','','2016-honda-civic-child-seat-review-3','','','2016-03-24 02:56:49','2016-03-24 06:56:49','',1407,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-honda-civic-child-seat-review-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(1412,0,'2016-03-24 02:56:50','2016-03-24 06:56:50','','2016 Honda Civic Child Seat Review','','inherit','open','closed','','2016-honda-civic-child-seat-review-4','','','2016-03-24 02:56:50','2016-03-24 06:56:50','',1407,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-honda-civic-child-seat-review-youtube-thumbnail-2.jpg',0,'attachment','image/jpeg',0),(1413,0,'2016-03-24 02:56:50','2016-03-24 06:56:50','','2016 Honda Civic Child Seat Review','','inherit','open','closed','','2016-honda-civic-child-seat-review-5','','','2016-03-24 02:56:50','2016-03-24 06:56:50','',1407,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-honda-civic-child-seat-review-youtube-thumbnail-3.jpg',0,'attachment','image/jpeg',0),(1414,1,'2015-11-27 15:00:02','2015-11-27 15:00:02','Chevy\'s newest Volt makes large improvements over the previous model. But some flaws remain. \n\nFollow Driving!\nTwitter: https://twitter.com/drivingdotca\nInstagram: http://instagram.com/drivingca\nFacebook: https://www.facebook.com/drivingdotca','Car Review | 2016 Chevrolet Volt | Driving.ca','','publish','open','open','','car-review-2016-chevrolet-volt-driving-ca','','','2015-11-27 15:00:02','2015-11-27 15:00:02','',0,'http://www.l2ocredit.com/2015/11/27/car-review-2016-chevrolet-volt-driving-ca/',0,'post','',0),(1415,0,'2016-03-24 03:11:53','2016-03-24 07:11:53','','Car Review | 2016 Chevrolet Volt | Driving.ca','','inherit','open','closed','','car-review-2016-chevrolet-volt-driving-ca-2','','','2016-03-24 03:11:53','2016-03-24 07:11:53','',1414,'http://www.l2ocredit.com/wp-content/uploads/2016/03/car-review-2016-chevrolet-volt-driving-ca-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(1416,0,'2016-03-24 03:11:54','2016-03-24 07:11:54','','Car Review | 2016 Chevrolet Volt | Driving.ca','','inherit','open','closed','','car-review-2016-chevrolet-volt-driving-ca-3','','','2016-03-24 03:11:54','2016-03-24 07:11:54','',1414,'http://www.l2ocredit.com/wp-content/uploads/2016/03/car-review-2016-chevrolet-volt-driving-ca-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(1417,0,'2016-03-24 03:11:54','2016-03-24 07:11:54','','Car Review | 2016 Chevrolet Volt | Driving.ca','','inherit','open','closed','','car-review-2016-chevrolet-volt-driving-ca-4','','','2016-03-24 03:11:54','2016-03-24 07:11:54','',1414,'http://www.l2ocredit.com/wp-content/uploads/2016/03/car-review-2016-chevrolet-volt-driving-ca-youtube-thumbnail-2.jpg',0,'attachment','image/jpeg',0),(1418,1,'2015-09-15 14:50:39','2015-09-15 14:50:39','The segments 800-pound gorilla is new, improved and gets something it hasn\'t had for years- competition.','2016 Toyota Tacoma TRD Off Road','','publish','open','open','','2016-toyota-tacoma-trd-off-road','','','2015-09-15 14:50:39','2015-09-15 14:50:39','',0,'http://www.l2ocredit.com/2015/09/15/2016-toyota-tacoma-trd-off-road/',0,'post','',0),(1419,0,'2016-03-24 03:44:13','2016-03-24 07:44:13','','2016 Toyota Tacoma TRD Off Road','','inherit','open','closed','','2016-toyota-tacoma-trd-off-road-2','','','2016-03-24 03:44:13','2016-03-24 07:44:13','',1418,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-toyota-tacoma-trd-off-road-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(1420,1,'2015-12-11 15:09:48','2015-12-11 15:09:48','Land Rover introduces an all-new Td6 turbo-diesel V6 in the Range Rover and Range Rover Sport full-size SUV s. This luxury SUV brand now has a fuel efficient diesel engine to power this 5 or 7 passenger vehicle. Diesel has long been used in Land Rover and Range Rover SUV s but now North America gets to experience these powerful off-road capable trucks.\n\nJaguar is updating its full line of cars and the latest introduction is the mid-sized 5-passenger luxury sedan called the XF. This car has two powerful engines and great handling thanks to an all-new aluminum structure. Jaguar has always been known for powerful, sexy and luxurious cars and this new 2016 Jaguar XF  does it all perfectly. \n\nTwitter: https://twitter.com/MotormouthCDN\nFacebook: http://tinyurl.com/motormouthfb\nMotormouth: http://www.motormouth.ca/\nSubscribe: http://tinyurl.com/motormouthsubscribe\nZack Spencer\nZach Spencer\nCanadian Car Review','Q&amp;A Jaguar and Range Rover (Video Blog #42)','','publish','open','open','','qa-jaguar-and-range-rover-video-blog-42','','','2015-12-11 15:09:48','2015-12-11 15:09:48','',0,'http://www.l2ocredit.com/2015/12/11/qa-jaguar-and-range-rover-video-blog-42/',0,'post','',0),(1421,0,'2016-03-24 03:59:59','2016-03-24 07:59:59','','Q&amp;A Jaguar and Range Rover (Video Blog #42)','','inherit','open','closed','','qa-jaguar-and-range-rover-video-blog-42-2','','','2016-03-24 03:59:59','2016-03-24 07:59:59','',1420,'http://www.l2ocredit.com/wp-content/uploads/2016/03/qa-jaguar-and-range-rover-video-blog-42-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(1422,0,'2016-03-24 03:59:59','2016-03-24 07:59:59','','Q&amp;A Jaguar and Range Rover (Video Blog #42)','','inherit','open','closed','','qa-jaguar-and-range-rover-video-blog-42-3','','','2016-03-24 03:59:59','2016-03-24 07:59:59','',1420,'http://www.l2ocredit.com/wp-content/uploads/2016/03/qa-jaguar-and-range-rover-video-blog-42-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(1423,0,'2016-03-24 03:59:59','2016-03-24 07:59:59','','Q&amp;A Jaguar and Range Rover (Video Blog #42)','','inherit','open','closed','','qa-jaguar-and-range-rover-video-blog-42-4','','','2016-03-24 03:59:59','2016-03-24 07:59:59','',1420,'http://www.l2ocredit.com/wp-content/uploads/2016/03/qa-jaguar-and-range-rover-video-blog-42-youtube-thumbnail-2.jpg',0,'attachment','image/jpeg',0),(1424,1,'2016-02-04 00:35:31','2016-02-04 00:35:31','Like Us on Facebook! https://www.facebook.com/pages/Camerons-Car-Reviews/349462695066112?ref=hl \nFollow Us on Instagram: cameronscarreviews \nSnapchat: camscarreviews \nCamerons Car Reviews Score: 4.5/5 \nPowertrain Options: 1.8 L 4-Cylinder with a 6--Speed Manual or a 4-Speed/CVT Automatic FWD  \nEngine &amp; Performance\nBASE ENGINE SIZE 1.8 L CAM TYPE Double overhead cam (DOHC)\nCYLINDERS Inline 4 \nVALVES 16\nVALVE TIMING Variable \nTORQUE 128 ft-lbs. @ 4400 rpm\nHORSEPOWER 132 hp @ 6000 rpm \nTURNING CIRCLE 35.6 ft. \nWeights and Capacities\nEPA INTERIOR VOLUME 110.5 cu.ft. \nCURB WEIGHT 2855 lbs.\nCARGO CAPACITY, ALL SEATS IN PLACE 13.0 cu.ft. \nWarranty\nBASIC 3 yr./ 36000 mi. \nDRIVETRAIN 5 yr./ 60000 mi.\nFREE MAINTENANCE 2 yr./ 25000 mi. \nWeights and Capacities\nEPA INTERIOR VOLUME 110.5 cu.ft. \nCURB WEIGHT 2855 lbs.\nCARGO CAPACITY, ALL SEATS IN PLACE 13.0 cu.ft. \nFuel\nENGINE TYPE Gas \nFUEL TYPE Regular unleaded\nFUEL TANK CAPACITY 13.2 gal. \nRANGE IN MILES (CTY/HWY) 382.8/501.6 mi.\nEPA MILEAGE EST. (CTY/HWY) 29/38 mpg \nCompetitors: Honda Civic, Ford Focus, Nissan Sentra, Volkswagen Jetta, Chevrolet Cruze, Dodge Dart, Mazda 3','2016 Toyota Corolla LE Review 1.8 L 4-Cylinder | Camerons Car Reviews','','publish','open','open','','2016-toyota-corolla-le-review-1-8-l-4-cylinder-camerons-car-reviews','','','2016-02-04 00:35:31','2016-02-04 00:35:31','',0,'http://www.l2ocredit.com/2016/02/04/2016-toyota-corolla-le-review-1-8-l-4-cylinder-camerons-car-reviews/',0,'post','',0),(1425,0,'2016-03-24 04:18:32','2016-03-24 08:18:32','','2016 Toyota Corolla LE Review 1.8 L 4-Cylinder | Camerons Car Reviews','','inherit','open','closed','','2016-toyota-corolla-le-review-1-8-l-4-cylinder-camerons-car-reviews-2','','','2016-03-24 04:18:32','2016-03-24 08:18:32','',1424,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-toyota-corolla-le-review-1-8-l-4-cylinder-camerons-car-reviews-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(1426,1,'2016-01-16 14:00:00','2016-01-16 14:00:00','In this FIRST FULL episode of Season Six, MotoMan drives the 2016 Aston Martin V8 Vantage GT Roadster – which also happens to be the first Aston Martin on the show with a MANUAL TRANSMISSION! However, in the process of driving the 2016 Aston Martin V8 Vantage GT Roadster, the state of California did not exactly provide the ample opportunity to test driving dynamics so MotoMan went in a completely different direction . . .\n\nMotoMan. Ordinary Car Guy. Extraordinary Adventures\n\nTWICE A WEEK, MotoMan you on car guy adventures like going behind the scenes and hands on at factories, design studios and race tracks to unique driving experiences – everything from the latest cars to military prototype vehicles.\n\nEACH MONTH, MotoMan has an informal discussion with the key people shaping the car industry in front of a live studio &amp; Internet streamed audience. Connect with us via Facebook &amp; Twitter for a full schedule: \n\nSubscribe now to experience our adventures in the car world.\nhttp://www.youtube.com/subscription_center?add_user=motomantv\n\nCheck out our Aston Martin Playlist:\nhttps://www.youtube.com/playlist?list=PLF6ek7dWy48q3OQTeXAfbvE-8e3ZXACL5\n\nFacebook - http://www.facebook.com/MotoManTV\nTwitter - http://twitter.com/MotoManTV\nInstagram – http://instagram.com/motomantv\n\nWebsite - http://www.MotoMan.TV\n\nNEW MUSIC including Son of a Rocket and Raw by Kevin MacLeod/incompetech.com &amp; Jahzzar','2016 Aston Martin V8 Vantage GT Roadster FIRST DRIVE REVIEW','','publish','open','open','','2016-aston-martin-v8-vantage-gt-roadster-first-drive-review','','','2016-01-16 14:00:00','2016-01-16 14:00:00','',0,'http://www.l2ocredit.com/2016/01/16/2016-aston-martin-v8-vantage-gt-roadster-first-drive-review/',0,'post','',0),(1427,0,'2016-03-24 05:24:06','2016-03-24 09:24:06','','2016 Aston Martin V8 Vantage GT Roadster FIRST DRIVE REVIEW','','inherit','open','closed','','2016-aston-martin-v8-vantage-gt-roadster-first-drive-review-2','','','2016-03-24 05:24:06','2016-03-24 09:24:06','',1426,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-aston-martin-v8-vantage-gt-roadster-first-drive-review-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(1428,0,'2016-03-24 05:24:06','2016-03-24 09:24:06','','2016 Aston Martin V8 Vantage GT Roadster FIRST DRIVE REVIEW','','inherit','open','closed','','2016-aston-martin-v8-vantage-gt-roadster-first-drive-review-3','','','2016-03-24 05:24:06','2016-03-24 09:24:06','',1426,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-aston-martin-v8-vantage-gt-roadster-first-drive-review-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(1429,1,'2016-03-23 06:15:57','2016-03-23 10:15:57','<p><a href=\"http://www.moneysense.ca/tag/budget-2016/\" rel=\"attachment wp-att-150316\"><img class=\"alignnone size-full wp-image-150316\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg\" alt=\"Budget 2016 banner V2\" width=\"885\" height=\"300\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-300x102.jpg 300w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-768x260.jpg 768w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-660x224.jpg 660w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg 885w\" sizes=\"(max-width: 885px) 100vw, 885px\" /></a></p>\n<div itemscope=\"itemscope\" itemtype=\"http://schema.org/VideoObject\">\n\n        <meta itemprop=\"duration\" content=\"PT17M48S\" />\n        <meta itemprop=\"thumbnailUrl\" content=\"http://newsandbusiness.rogersdigitalmedia.com.edgesuite.net/bcassets/13639244001/13639244001_4813100169001_thumbnail-for-video-4812788644001.jpg?pubId=13639244001\" />\n        <meta itemprop=\"name\" content=\"Budget 2016: MoneySense experts comment\" />\n        <meta itemprop=\"description\" content=\"MoneySense&#039;s Romana King, MoneyCoaches Canada&#039;s Janet Gray and Knowledge Bureau&#039;s Evelyn Jacks discuss the ramificiations of Budget 2016 for average Canadians.\" />\n        <meta itemprop=\"uploadDate\" content=\"2016-03-22T21:57:49+00:00\" />\n    \n    <div style=\"display: none;\"></div>\n\n    <script type=\"text/javascript\" src=\"http://admin.brightcove.com/js/BrightcoveExperiences.js\"></script>\n    <script type=\"text/javascript\" src=\"http://admin.brightcove.com/js/api/SmartPlayerAPI.js\"></script>\n\n    <object id=\"myExperience4812788644001\" class=\"BrightcoveExperience\">\n        <param name=\"bgcolor\" value=\"#FFFFFF\" />\n        <param name=\"width\" value=\"640\" />\n        <param name=\"height\" value=\"360\" />\n        <param name=\"playerID\" value=\"2659807263001\" />\n        <param name=\"playerKey\" value=\"AQ~~,AAAAAyz2WOE~,aVUQ6mHrguBSAk3aprArcQ8EfouzY6bY\" />\n        <param name=\"isVid\" value=\"true\" />\n        <param name=\"isUI\" value=\"true\" />\n        <param name=\"dynamicStreaming\" value=\"true\" />\n        <param name=\"includeAPI\" value=\"true\" />\n        <param name=\"templateLoadHandler\" value=\"onTemplateLoad\" />\n        <param name=\"templateReadyHandler\" value=\"onTemplateReady\" />\n        <param name=\"@videoPlayer\" value=\"4812788644001\" />\n                <param name=\"adServerURL\" value=\"http://pubads.g.doubleclick.net/gampad/ads?sz=640x360&amp;iu=%2F7326%2Frogers.publishing%2Fmoneysense.CPGBusiness%2Fvideos&amp;ciu_szs=728x90%2C300x250&amp;impl=s&amp;gdfp_req=1&amp;env=vp&amp;output=xml_vast2&amp;ad_rule=1&amp;unviewed_position_start=1&amp;cmsid=1464\" />\n                <param name=\"linkBaseURL\" value=\"http://www.moneysense.ca/save/retirement/what-the-federal-budget-means-for-seniors/\" />\n        <param name=\"autoStart\" value=\"false\" />\n        <param name=\"wmode\" value=\"transparent\" />\n    </object>\n\n</div>\n\n<script type=\"text/javascript\">\n    brightcove.createExperiences();\n</script>\n\n<p>The federal budget made some important tax changes for families.  The good news is that the much rumoured increase to the capital gains inclusions rate did not come to fruition in this budget,  and the anticipated changes to stock option benefits have been deferred for now. But if you’ve invested in corporate class mutual funds, you&#8217;ll want to do any switching between funds on a tax-free basis now until September as that special tax-free treatment will disappear.</p>\n<p>Charities will also wince at the cancellation of a provision expected to begin in 2017, introduced in the last budget. That is, the donation of sales proceeds from a qualifying private corporate or real estate dispositions will no longer qualify for a capital gains exemption if proceeds are donated to charity.</p>\n<p><strong>Live chat:</strong> <a href=\"http://www.moneysense.ca/news/live-chat-your-federal-budget-questions-answered/\">Have questions? Tune in to our live chat and our experts will answer</a></p>\n<p><strong>Tool:</strong> <a href=\"http://www.budget.gc.ca/2016/tool-outil/ccb-ace-en.html\" >Finance Canada has a nifty calculator that determines your benefits</a></p>\n<p>Families will be happy with the introduction of the <strong>Canada Child Benefit (CCB)</strong>, which is a refundable credit based on family net income. Specifically, the new CCB provides a maximum benefit of $6400 per child under age of six and $5400 per child age six to 17.</p>\n<p>How much you get is based on 2015 family net income, which is determined on the tax return (2015) currently being filed.  So be sure to dig for every deduction that reduces your net income on Line 236.  Also, a tip for the future:  RRSP planning for families is extremely important as clawback zones can bring marginal tax rates well over 50% in some cases:</p>\n<table>\n<tbody>\n<tr>\n<td></td>\n<td colspan=\"2\">Current Clawback Rules</td>\n</tr>\n<tr>\n<td>Income</td>\n<td>MTR(tax)</td>\n<td>MTR with clawbacks</td>\n</tr>\n<tr>\n<td>$30,000</td>\n<td>20.05%</td>\n<td>20.05%</td>\n</tr>\n<tr>\n<td>$40,000</td>\n<td>20.05%</td>\n<td>40.10%</td>\n</tr>\n<tr>\n<td><strong>$50,000</strong></td>\n<td><strong>29.65%</strong></td>\n<td><strong>51.15%</strong></td>\n</tr>\n<tr>\n<td><strong>$60,000</strong></td>\n<td><strong>29.65%</strong></td>\n<td><strong>51.15%</strong></td>\n</tr>\n<tr>\n<td><strong>$70,000</strong></td>\n<td><strong>29.65%</strong></td>\n<td><strong>51.15%</strong></td>\n</tr>\n<tr>\n<td><strong>$80,000</strong></td>\n<td><strong>31.48%</strong></td>\n<td><strong>72.48%</strong></td>\n</tr>\n<tr>\n<td><strong>$90,000</strong></td>\n<td><strong>37.91%</strong></td>\n<td><strong>58.41%</strong></td>\n</tr>\n<tr>\n<td><strong>$100,000</strong></td>\n<td><strong>43.41%</strong></td>\n<td><strong>63.91%</strong></td>\n</tr>\n<tr>\n<td><strong>$110,000</strong></td>\n<td><strong>43.41%</strong></td>\n<td><strong>63.91%</strong></td>\n</tr>\n<tr>\n<td>$120,000</td>\n<td>43.41%</td>\n<td>43.41%</td>\n</tr>\n<tr>\n<td>$130,000</td>\n<td>43.41%</td>\n<td>43.41%</td>\n</tr>\n<tr>\n<td>$140,000</td>\n<td>43.41%</td>\n<td>43.41%</td>\n</tr>\n<tr>\n<td>$150,000</td>\n<td>46.41%</td>\n<td>46.41%</td>\n</tr>\n<tr>\n<td>$160,000</td>\n<td>47.97%</td>\n<td>47.97%</td>\n</tr>\n<tr>\n<td>$170,000</td>\n<td>47.97%</td>\n<td>47.97%</td>\n</tr>\n<tr>\n<td>$180,000</td>\n<td>47.97%</td>\n<td>47.97%</td>\n</tr>\n<tr>\n<td>$190,000</td>\n<td>47.97%</td>\n<td>47.97%</td>\n</tr>\n<tr>\n<td>$200,000</td>\n<td>47.97%</td>\n<td>47.97%</td>\n</tr>\n<tr>\n<td><strong>$210,000</strong></td>\n<td><strong>51.97%</strong></td>\n<td><strong>51.97%</strong></td>\n</tr>\n<tr>\n<td><strong>$220,000</strong></td>\n<td><strong>51.97%</strong></td>\n<td><strong>51.97%</strong></td>\n</tr>\n<tr>\n<td><strong>$220,000+</strong></td>\n<td><strong>53.53%</strong></td>\n<td><strong>53.53%</strong></td>\n</tr>\n</tbody>\n</table>\n<p>Do refugees get the benefits?  Foreign-born individuals who are Indians and not Canadian citizens and permanent residents under the Immigration and Refugee Protection Act may legally reside in Canada and receive the CCB. A new limitation is being introduced with regard to eligibility for retroactive payments. Currently individuals may apply for CCTB and Universal Child Care Benefit (UCCB) as far back as the introduction of the programs. Income-tax based credits, however, are limited to a 10-year limitation. Retroactive application of UCCB and CTB will align after 2016, to the 10-year limitation.</p>\n<p>Unfortunately, there is no non-refundable tax credit for minor children for those who do not qualify for the income-tested benefits. This was removed when the previous government introduced the UCCB enhancements and the Family Tax Cut.</p>\n<p>Other non-refundable tax credits will be removed as well:  the education/textbook amounts will disappear, as will the refundable children’s fitness credit.</p>\n<p><strong>Read:</strong> <a href=\"http://www.macleans.ca/politics/ottawa/child-care-benefit-as-promised/\" >Is the Canada Child Benefit fair?</a></p>\n<h3><strong>The Canada Child Benefit: See how it affects you </strong></h3>\n<p>The changes the Liberal government has introduced for families has varying result, depending on family net income, how many children the family has, and whether they are under six or six to 17. We did some calculations at Knowledge Bureau to see how families fare in 2016.</p>\n<p>The key learnings are that while middle-income families are generously rewarded with the combination of tax rate reductions and enhanced refundable tax credits, but their marginal tax rates increase significantly as incomes rise to an upper middle class range:  50% for income levels between $70,000 and $80,000 and over<strong> 67% </strong>for income levels between $90,000 and $120,000.<strong> </strong>This makes RRSP planning a must for those families in order to reduce family net income below the $70,000 threshold.</p>\n<p>Let’s look now at the effects of the changes on a low-income family. In this case, net family income is $30,000 and there are three little children in the family – each under six:</p>\n<p><strong>Scenario: Ontario family has three children under 6 and family net income of $30,000</strong></p>\n<table>\n<tbody>\n<tr>\n<td></td>\n<td colspan=\"3\">Both work ($15K each)</td>\n<td colspan=\"3\">One Works ($30K)</td>\n</tr>\n<tr>\n<td></td>\n<td>Old Rules</td>\n<td>New Rules</td>\n<td>Difference</td>\n<td>Old Rules</td>\n<td>New Rules</td>\n<td>Difference</td>\n</tr>\n<tr>\n<td>Earned Income</td>\n<td>$30,000</td>\n<td>$30,000</td>\n<td>$0</td>\n<td>$30,000</td>\n<td>$30,000</td>\n<td>$0</td>\n</tr>\n<tr>\n<td>&#8211; Federal Tax</td>\n<td>1,318</td>\n<td>454</td>\n<td>+864</td>\n<td>1,466</td>\n<td>602</td>\n<td>+864</td>\n</tr>\n<tr>\n<td>&#8211; Provincial Tax</td>\n<td>0</td>\n<td>0</td>\n<td>0</td>\n<td>0</td>\n<td>0</td>\n<td>0</td>\n</tr>\n<tr>\n<td>= Net After Tax</td>\n<td>$28,682</td>\n<td>$29,546</td>\n<td>+$864</td>\n<td>$28,534</td>\n<td>$29,398</td>\n<td>+$864</td>\n</tr>\n<tr>\n<td>+ UCCB</td>\n<td>5,760</td>\n<td>0</td>\n<td>-5,760</td>\n<td>5,760</td>\n<td>0</td>\n<td>-5,760</td>\n</tr>\n<tr>\n<td>+ CTB</td>\n<td>9,656</td>\n<td>19,200</td>\n<td>+9,544</td>\n<td>9,656</td>\n<td>19,200</td>\n<td>+9,544</td>\n</tr>\n<tr>\n<td>+ GSTC</td>\n<td>987</td>\n<td>987</td>\n<td>0</td>\n<td>987</td>\n<td>987</td>\n<td>0</td>\n</tr>\n<tr>\n<td>+ Prov CTB</td>\n<td>3,324</td>\n<td>3,324</td>\n<td>0</td>\n<td>3,324</td>\n<td>3,324</td>\n<td>0</td>\n</tr>\n<tr>\n<td>= Total Income</td>\n<td>$48,409</td>\n<td>$53,057</td>\n<td>+$4,648</td>\n<td>$48,261</td>\n<td>$52,909</td>\n<td>+$4,648</td>\n</tr>\n<tr>\n<td>Monthly Income</td>\n<td>$4,034</td>\n<td>$4,421</td>\n<td>+$387</td>\n<td>$4,022</td>\n<td>$4,409</td>\n<td>+$387</td>\n</tr>\n</tbody>\n</table>\n<p><em>Source: Knowledge Bureau, Inc.</em></p>\n<p><strong>Conclusions:</strong></p>\n<ul>\n<li>Under the new rules a low-income family with three children will be better off by almost $400 per month.</li>\n<li>This family has after-tax income of $4,409 per month.</li>\n<li>Whether single-earner or two working spouses makes little difference.</li>\n<li>The tax system added 75% to earned income under the new rules with one earner.</li>\n</ul>\n<h3>Higher Income Earners</h3>\n<p>Now let’s take a look at the amount of <strong>Canada Child Benefit</strong> receivable and resulting marginal tax rates at higher income levels. The scenario is the following: Ontario family has three children under 6 and various family net income levels below.  But in this case one spouse is working. First let’s take a look at the old rules:</p>\n<p><strong>Table 1: Old Rules</strong></p>\n<table>\n<tbody>\n<tr>\n<td width=\"71\">Income</td>\n<td width=\"68\">Income Tax</td>\n<td width=\"67\">UCCB</td>\n<td width=\"67\">CTB</td>\n<td width=\"65\">GSTC</td>\n<td width=\"71\">After Tax</td>\n<td width=\"59\">Effective Tax Rate</td>\n</tr>\n<tr>\n<td width=\"71\">$30,000</td>\n<td width=\"68\">$1,466</td>\n<td width=\"67\">$5,760</td>\n<td width=\"67\">$9,656</td>\n<td width=\"65\">$987</td>\n<td width=\"71\">$44,937</td>\n<td width=\"59\">-50%</td>\n</tr>\n<tr>\n<td width=\"71\">$40,000</td>\n<td width=\"68\">3,406</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">6,140</td>\n<td width=\"65\">652</td>\n<td width=\"71\">$49,146</td>\n<td width=\"59\">-23%</td>\n</tr>\n<tr>\n<td width=\"71\">$50,000</td>\n<td width=\"68\">6,101</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">4,385</td>\n<td width=\"65\">152</td>\n<td width=\"71\">$54,196</td>\n<td width=\"59\">-8%</td>\n</tr>\n<tr>\n<td width=\"71\">$60,000</td>\n<td width=\"68\">9,165</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">3,985</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$60,580</td>\n<td width=\"59\">-1%</td>\n</tr>\n<tr>\n<td width=\"71\">$70,000</td>\n<td width=\"68\">12,280</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">3,585</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$67,065</td>\n<td width=\"59\">+4%</td>\n</tr>\n<tr>\n<td width=\"71\">$80,000</td>\n<td width=\"68\">15,549</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">3,185</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$73,396</td>\n<td width=\"59\">+8%</td>\n</tr>\n<tr>\n<td width=\"71\">$90,000</td>\n<td width=\"68\">19,014</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">2,785</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$79,531</td>\n<td width=\"59\">+12%</td>\n</tr>\n<tr>\n<td width=\"71\">$100,000</td>\n<td width=\"68\">23,268</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">2,385</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$84,877</td>\n<td width=\"59\">+15%</td>\n</tr>\n<tr>\n<td width=\"71\">$110,000</td>\n<td width=\"68\">27,609</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">1,985</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$90,136</td>\n<td width=\"59\">+18%</td>\n</tr>\n<tr>\n<td width=\"71\">$120,000</td>\n<td width=\"68\">31,949</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">1,585</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$95,396</td>\n<td width=\"59\">+21%</td>\n</tr>\n<tr>\n<td width=\"71\">$130,000</td>\n<td width=\"68\">36,291</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">1,185</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$100,654</td>\n<td width=\"59\">+23%</td>\n</tr>\n<tr>\n<td width=\"71\">$140,000</td>\n<td width=\"68\">40,632</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">785</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$105,913</td>\n<td width=\"59\">+24%</td>\n</tr>\n<tr>\n<td width=\"71\">$150,000</td>\n<td width=\"68\">45,261</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">385</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$110,884</td>\n<td width=\"59\">+26%</td>\n</tr>\n<tr>\n<td width=\"71\">$160,000</td>\n<td width=\"68\">50,058</td>\n<td width=\"67\">5,760</td>\n<td width=\"67\">0</td>\n<td width=\"65\">0</td>\n<td width=\"71\">$115,702</td>\n<td width=\"59\">+28%</td>\n</tr>\n</tbody>\n</table>\n<p><em>©2016 Knowledge Bureau, Inc.  All Rights Reserved.</em></p>\n<p>Note that negative figures represent an excess of benefits received over taxes payable. Below, we take a look at what happens under the new rules with our three-child family. We note taxes payable are netted out with eligible refundable tax credits, and compare the results to the old rules.</p>\n<p><strong>Table 2: New Rules</strong></p>\n<table>\n<tbody>\n<tr>\n<td width=\"67\">Income</td>\n<td width=\"50\">Income Tax</td>\n<td width=\"35\">UCCB</td>\n<td width=\"43\">CCB</td>\n<td width=\"43\">GSTC</td>\n<td width=\"57\">Net Tax</td>\n<td width=\"47\">Effective Tax Rate</td>\n<td width=\"59\">Difference</td>\n<td width=\"29\">% Diff</td>\n<td width=\"46\">MTR</td>\n</tr>\n<tr>\n<td width=\"67\">$30,000</td>\n<td width=\"50\">$602</td>\n<td width=\"35\">$0</td>\n<td width=\"43\">$19,200</td>\n<td width=\"43\">$987</td>\n<td width=\"57\">$49,585</td>\n<td width=\"47\">-65%</td>\n<td width=\"59\">$4,648</td>\n<td width=\"29\">15%</td>\n<td width=\"46\">15%</td>\n</tr>\n<tr>\n<td width=\"67\">$40,000</td>\n<td width=\"50\">3,406</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$17,300</td>\n<td width=\"43\">652</td>\n<td width=\"57\">$54,546</td>\n<td width=\"47\">-36%</td>\n<td width=\"59\">$5,400</td>\n<td width=\"29\">14%</td>\n<td width=\"46\">43.15%</td>\n</tr>\n<tr>\n<td width=\"67\">$50,000</td>\n<td width=\"50\">6,030</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$15,400</td>\n<td width=\"43\">152</td>\n<td width=\"57\">$59,522</td>\n<td width=\"47\">-19%</td>\n<td width=\"59\">$5,326</td>\n<td width=\"29\">11%</td>\n<td width=\"46\">48.65%</td>\n</tr>\n<tr>\n<td width=\"67\">$60,000</td>\n<td width=\"50\">8,944</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$13,500</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$64,556</td>\n<td width=\"47\">-8%</td>\n<td width=\"59\">$3,976</td>\n<td width=\"29\">7%</td>\n<td width=\"46\">48.65%</td>\n</tr>\n<tr>\n<td width=\"67\">$70,000</td>\n<td width=\"50\">11,909</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$12,150</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$70,241</td>\n<td width=\"47\">0%</td>\n<td width=\"59\">$3,176</td>\n<td width=\"29\">5%</td>\n<td width=\"46\">37.15%</td>\n</tr>\n<tr>\n<td width=\"67\">$80,000</td>\n<td width=\"50\">15,028</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$11,350</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$76,322</td>\n<td width=\"47\">5%</td>\n<td width=\"59\">$2,926</td>\n<td width=\"29\">4%</td>\n<td width=\"46\">39.48%</td>\n</tr>\n<tr>\n<td width=\"67\">$90,000</td>\n<td width=\"50\">18,343</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$10,550</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$82,207</td>\n<td width=\"47\">9%</td>\n<td width=\"59\">$2,676</td>\n<td width=\"29\">3%</td>\n<td width=\"46\">45.91%</td>\n</tr>\n<tr>\n<td width=\"67\">$100,000</td>\n<td width=\"50\">22,588</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$9,750</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$87,162</td>\n<td width=\"47\">13%</td>\n<td width=\"59\">$2,285</td>\n<td width=\"29\">2%</td>\n<td width=\"46\">51.41%</td>\n</tr>\n<tr>\n<td width=\"67\">$110,000</td>\n<td width=\"50\">26,929</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$8,950</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$92,021</td>\n<td width=\"47\">16%</td>\n<td width=\"59\">$1,885</td>\n<td width=\"29\">2%</td>\n<td width=\"46\">51.41%</td>\n</tr>\n<tr>\n<td width=\"67\">$120,000</td>\n<td width=\"50\">31,370</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$8,150</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$96,780</td>\n<td width=\"47\">19%</td>\n<td width=\"59\">$1,384</td>\n<td width=\"29\">1%</td>\n<td width=\"46\">51.41%</td>\n</tr>\n<tr>\n<td width=\"67\">$130,000</td>\n<td width=\"50\">35,611</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$7,350</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$101,739</td>\n<td width=\"47\">22%</td>\n<td width=\"59\">$1,085</td>\n<td width=\"29\">1%</td>\n<td width=\"46\">51.41%</td>\n</tr>\n<tr>\n<td width=\"67\">$140,000</td>\n<td width=\"50\">39,952</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$6,550</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$106,598</td>\n<td width=\"47\">24%</td>\n<td width=\"59\">$685</td>\n<td width=\"29\">0%</td>\n<td width=\"46\">51.41%</td>\n</tr>\n<tr>\n<td width=\"67\">$150,000</td>\n<td width=\"50\">44,582</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$5,750</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$111,168</td>\n<td width=\"47\">26%</td>\n<td width=\"59\">$284</td>\n<td width=\"29\">0%</td>\n<td width=\"46\">55.97%</td>\n</tr>\n<tr>\n<td width=\"67\">$160,000</td>\n<td width=\"50\">49,379</td>\n<td width=\"35\">0</td>\n<td width=\"43\">$4,950</td>\n<td width=\"43\">0</td>\n<td width=\"57\">$115,571</td>\n<td width=\"47\">28%</td>\n<td width=\"59\">-$131</td>\n<td width=\"29\">0%</td>\n<td width=\"46\">55.97%</td>\n</tr>\n</tbody>\n</table>\n<p><em>©2016 Knowledge Bureau, Inc.  All Rights Reserved.</em></p>\n<p><strong>Conclusions:</strong></p>\n<ul>\n<li>Family net income can be as high as $70,000 before any net tax is paid (that is, taxes payable less refundable credits received)</li>\n<li>When this family’s income reaches $160,000 it is evident that the UCCB provided more money. In addition the family’s marginal tax rate is quite high, when the clawback of the CCB is taken into account</li>\n<li>However, while high income earners received more benefits under the UCCB regime, the Canada Child Benefit delivers at least some dollars to a broader number of high income families, as illustrated with the high income cut off chart below. In fact, marginal tax rates are over 50% for income levels exceed $100,000 when we take the clawbacks into account. That makes RRSP planning important for families. The deduction of the contribution will help to reduce family net income levels. Child care expense deductions and carry charges on investments are examples of two other deductions that reduce family net income</li>\n</ul>\n<h3>High Income Cut Offs for Canada Child Benefit</h3>\n<p>The following table shows the income level at which the CCB will be eliminated for various families. The full benefit is only received up to family net income of $30,000 but the benefit is available over a surprisingly large income range.</p>\n<table>\n<tbody>\n<tr>\n<td><strong>Ages of Children</strong></td>\n<td><strong>Income Cut-Off</strong></td>\n</tr>\n<tr>\n<td>1 child under 6</td>\n<td>$188,437</td>\n</tr>\n<tr>\n<td>1 child over 6</td>\n<td>$157,187</td>\n</tr>\n<tr>\n<td>2 children, both under 6</td>\n<td>$206,667</td>\n</tr>\n<tr>\n<td>2 children, one under 6</td>\n<td>$189,123</td>\n</tr>\n<tr>\n<td>2 children, both over 5</td>\n<td>$171,579</td>\n</tr>\n<tr>\n<td>3 children all under 6</td>\n<td>$221,875</td>\n</tr>\n<tr>\n<td>3 children, two under 6</td>\n<td>$209,375</td>\n</tr>\n<tr>\n<td>3 children, one under 6</td>\n<td>$196,875</td>\n</tr>\n<tr>\n<td>3 children, all over 5</td>\n<td>$184,375</td>\n</tr>\n<tr>\n<td>4 children, all under 6</td>\n<td>$249,737</td>\n</tr>\n<tr>\n<td>4 children, three under 6</td>\n<td>$239,211</td>\n</tr>\n<tr>\n<td>4 children, two under 6</td>\n<td>$228,684</td>\n</tr>\n<tr>\n<td>4 children, one under 6</td>\n<td>$218,158</td>\n</tr>\n<tr>\n<td>4 children, all over 5</td>\n<td>$207,631</td>\n</tr>\n</tbody>\n</table>\n<h3>Single Child Families</h3>\n<p>In the following scenarios, we take a look at the results under old and new rules that focus on the removal of the UCCB in favour of the CCB and the net results for families at $30,000, $60,000 and $120,000.  In this case, there is only one child.</p>\n<table>\n<tbody>\n<tr>\n<td rowspan=\"2\"><strong>Family </strong></p>\n<p><strong>Income</strong></td>\n<td rowspan=\"2\"><strong>One</strong></p>\n<p><strong>Child</strong></td>\n<td colspan=\"4\"><strong>Old Rules</strong></td>\n<td colspan=\"4\"><strong>New Rules</strong></td>\n<td><strong> </strong></td>\n</tr>\n<tr>\n<td><strong>Income Tax</strong></td>\n<td><strong>CTB</strong></td>\n<td><strong>UCCB</strong></td>\n<td><strong>Net</strong></td>\n<td><strong>Income Tax</strong></td>\n<td><strong>CCB</strong></td>\n<td><strong>UCCB</strong></td>\n<td><strong>Net</strong></td>\n<td><strong>Difference</strong></td>\n</tr>\n<tr>\n<td><strong>$30,000</strong></td>\n<td><strong>&lt;6</strong></td>\n<td>$1,466</td>\n<td>$3,354</td>\n<td>$1,920</td>\n<td>$33,808</td>\n<td>$602</td>\n<td>$6,400</td>\n<td>$   &#8211;</td>\n<td>$35,798</td>\n<td>$1,990</td>\n</tr>\n<tr>\n<td><strong>$30,000</strong></td>\n<td><strong>&gt;5</strong></td>\n<td>$1,466</td>\n<td>$3,354</td>\n<td>$720</td>\n<td>$32,608</td>\n<td>$602</td>\n<td>$5,400</td>\n<td>$   &#8211;</td>\n<td>$34,798</td>\n<td>$2,190</td>\n</tr>\n<tr>\n<td><strong> $60,000 </strong></td>\n<td><strong>&lt;6</strong></td>\n<td>$9,506</td>\n<td>$1,195</td>\n<td>$1,920</td>\n<td>$53,609</td>\n<td>$     8,944</td>\n<td>$   4,300</td>\n<td>$     &#8211;</td>\n<td>$   55,356</td>\n<td>$1,747</td>\n</tr>\n<tr>\n<td><strong> $60,000 </strong></td>\n<td><strong>&gt;5</strong></td>\n<td>$9,273</td>\n<td>$1,195</td>\n<td>$720</td>\n<td>$52,409</td>\n<td>$     8,944</td>\n<td>$   3,300</td>\n<td>$     &#8211;</td>\n<td>$ 54,356</td>\n<td>$1,947</td>\n</tr>\n<tr>\n<td><strong> $120,000 </strong></td>\n<td><strong>&lt;6</strong></td>\n<td>$32,322</td>\n<td>$0</td>\n<td>$1,920</td>\n<td>$89,598</td>\n<td>$ 31,270</td>\n<td>$ 2,190</td>\n<td>$     &#8211;</td>\n<td>$   90,920</td>\n<td>$1,322</td>\n</tr>\n<tr>\n<td><strong> $120,000 </strong></td>\n<td><strong>&gt;5</strong></td>\n<td>$32,058</td>\n<td>$0</td>\n<td>$720</td>\n<td>$88,398</td>\n<td>$ 31,270</td>\n<td>$   1,190</td>\n<td>$     &#8211;</td>\n<td>$   89,920</td>\n<td>$1,522</td>\n</tr>\n</tbody>\n</table>\n<p>Of note is the fact that single-child families are better off with one child under the new rules at either age and across large income ranges. And that’s certainly good news!</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/save/taxes/budget-winners-and-losers-child-benefit/\">The winners and losers of the Canada Child Benefit</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','The winners and losers of the Canada Child Benefit','<p>Our tax expert crunches the numbers </p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/save/taxes/budget-winners-and-losers-child-benefit/\">The winners and losers of the Canada Child Benefit</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','inherit','closed','closed','','1014-revision-v1','','','2016-03-23 06:15:57','2016-03-23 10:15:57','',1014,'http://feedwordpress.radgeek.com/?rev=6bcb1c879b9d2e19de5bbc09d11e8f5a',0,'revision','',0),(1430,1,'2016-03-22 19:48:29','2016-03-22 23:48:29','<p><a href=\"http://www.moneysense.ca/tag/budget-2016/\" rel=\"attachment wp-att-150316\"><img class=\"alignnone size-full wp-image-150316\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg\" alt=\"Budget 2016 banner V2\" width=\"885\" height=\"300\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-300x102.jpg 300w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-768x260.jpg 768w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-660x224.jpg 660w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg 885w\" sizes=\"(max-width: 885px) 100vw, 885px\" /></a></p>\n<div itemscope=\"itemscope\" itemtype=\"http://schema.org/VideoObject\">\n\n        <meta itemprop=\"duration\" content=\"PT17M48S\" />\n        <meta itemprop=\"thumbnailUrl\" content=\"http://newsandbusiness.rogersdigitalmedia.com.edgesuite.net/bcassets/13639244001/13639244001_4813100169001_thumbnail-for-video-4812788644001.jpg?pubId=13639244001\" />\n        <meta itemprop=\"name\" content=\"Budget 2016: MoneySense experts comment\" />\n        <meta itemprop=\"description\" content=\"MoneySense&#039;s Romana King, MoneyCoaches Canada&#039;s Janet Gray and Knowledge Bureau&#039;s Evelyn Jacks discuss the ramificiations of Budget 2016 for average Canadians.\" />\n        <meta itemprop=\"uploadDate\" content=\"2016-03-22T21:57:49+00:00\" />\n    \n    <div style=\"display: none;\"></div>\n\n    <script type=\"text/javascript\" src=\"http://admin.brightcove.com/js/BrightcoveExperiences.js\"></script>\n    <script type=\"text/javascript\" src=\"http://admin.brightcove.com/js/api/SmartPlayerAPI.js\"></script>\n\n    <object id=\"myExperience4812788644001\" class=\"BrightcoveExperience\">\n        <param name=\"bgcolor\" value=\"#FFFFFF\" />\n        <param name=\"width\" value=\"640\" />\n        <param name=\"height\" value=\"360\" />\n        <param name=\"playerID\" value=\"2659807263001\" />\n        <param name=\"playerKey\" value=\"AQ~~,AAAAAyz2WOE~,aVUQ6mHrguBSAk3aprArcQ8EfouzY6bY\" />\n        <param name=\"isVid\" value=\"true\" />\n        <param name=\"isUI\" value=\"true\" />\n        <param name=\"dynamicStreaming\" value=\"true\" />\n        <param name=\"includeAPI\" value=\"true\" />\n        <param name=\"templateLoadHandler\" value=\"onTemplateLoad\" />\n        <param name=\"templateReadyHandler\" value=\"onTemplateReady\" />\n        <param name=\"@videoPlayer\" value=\"4812788644001\" />\n                <param name=\"adServerURL\" value=\"http://pubads.g.doubleclick.net/gampad/ads?sz=640x360&amp;iu=%2F7326%2Frogers.publishing%2Fmoneysense.CPGBusiness%2Fvideos&amp;ciu_szs=728x90%2C300x250&amp;impl=s&amp;gdfp_req=1&amp;env=vp&amp;output=xml_vast2&amp;ad_rule=1&amp;unviewed_position_start=1&amp;cmsid=1464\" />\n                <param name=\"linkBaseURL\" value=\"http://www.moneysense.ca/save/retirement/what-the-federal-budget-means-for-seniors/\" />\n        <param name=\"autoStart\" value=\"false\" />\n        <param name=\"wmode\" value=\"transparent\" />\n    </object>\n\n</div>\n\n<script type=\"text/javascript\">\n    brightcove.createExperiences();\n</script>\n\n<p>On Tuesday afternoon, Finance Minister Bill Morneau tabled his first federal budget in the House of Commons. In many ways it was a big budget (promising a $29.4 billion deficit and a plan to invest $120 billion in infrastructure spending over the next 10 years). There were also a number of line items targeted at Canadian investors. Here are three key ways that Budget 2016 impacts them:</p>\n<h3>No. 1: Investors can expect to pay more tax</h3>\n<p>Budget 2016 aims to close loopholes that some investors use to reduce tax paid to the Canada Revenue Agency (CRA). For instance, it will examine the use of “debt-parking transactions,” used by investors or private corporations in an effort to “preserve the integrity of the foreign exchange computational rules.”</p>\n<p>The Budget will also “prevent the asymmetrical recognition of gains and losses on derivatives for tax purposes,” and “prevent the deferral of capital gains tax by investors in mutual fund corporations structured as switch funds.”</p>\n<p>Also introduced in Budget 2016 is a new rule that would &#8220;effectively treat the portion of any gain realized on the sale of a linked note that is attributable to the variable return on the note as accrued interest on the note.”</p>\n<h3><strong>No. 2: The Labour-Sponsored tax credit will be reinstated</strong></h3>\n<p>Budget 2016 restores the tax credit for share purchases of provincially registered Labour-Sponsored Venture Capital Corporations to 15% for 2016 and subsequent tax years. The aim is to aid small- and medium-sized businesses, by helping them gain access to venture capital and providing federal tax relief of about $815 million through 2020–21.</p>\n<h3><strong>No. 3: The elimination of capital gains tax exemption on donations</strong></h3>\n<p>Last year&#8217;s budget included a proposal to provide an income  tax exemption on capital gains of donated private corporation shares or real estate, beginning in 2017. (To qualify, the cash proceeds from the disposition need to be donated to a registered charity or other qualified donee within 30 days.) Budget 2016 eliminates this tax exemption.</p>\n<p>&nbsp;</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/news/3-ways-the-federal-budget-will-affect-investors/\">3 ways the federal budget will affect investors</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','3 ways the federal budget will affect investors','<p>First up: They can expect to pay more tax</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/news/3-ways-the-federal-budget-will-affect-investors/\">3 ways the federal budget will affect investors</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','inherit','closed','closed','','1022-revision-v1','','','2016-03-22 19:48:29','2016-03-22 23:48:29','',1022,'http://feedwordpress.radgeek.com/?rev=c197de3c820e85bfe5c91779e2fbeed4',0,'revision','',0),(1431,1,'2016-03-22 19:38:52','2016-03-22 23:38:52','<p><a href=\"http://www.moneysense.ca/tag/budget-2016/\" rel=\"attachment wp-att-150316\"><img class=\"alignnone size-full wp-image-150316\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg\" alt=\"Budget 2016 banner V2\" width=\"885\" height=\"300\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-300x102.jpg 300w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-768x260.jpg 768w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2-660x224.jpg 660w, http://www.moneysense.ca/wp-content/uploads/2016/03/Budget-2016-banner-V2.jpg 885w\" sizes=\"(max-width: 885px) 100vw, 885px\" /></a></p>\n<div itemscope=\"itemscope\" itemtype=\"http://schema.org/VideoObject\">\n\n        <meta itemprop=\"duration\" content=\"PT17M48S\" />\n        <meta itemprop=\"thumbnailUrl\" content=\"http://newsandbusiness.rogersdigitalmedia.com.edgesuite.net/bcassets/13639244001/13639244001_4813100169001_thumbnail-for-video-4812788644001.jpg?pubId=13639244001\" />\n        <meta itemprop=\"name\" content=\"Budget 2016: MoneySense experts comment\" />\n        <meta itemprop=\"description\" content=\"MoneySense&#039;s Romana King, MoneyCoaches Canada&#039;s Janet Gray and Knowledge Bureau&#039;s Evelyn Jacks discuss the ramificiations of Budget 2016 for average Canadians.\" />\n        <meta itemprop=\"uploadDate\" content=\"2016-03-22T21:57:49+00:00\" />\n    \n    <div style=\"display: none;\"></div>\n\n    <script type=\"text/javascript\" src=\"http://admin.brightcove.com/js/BrightcoveExperiences.js\"></script>\n    <script type=\"text/javascript\" src=\"http://admin.brightcove.com/js/api/SmartPlayerAPI.js\"></script>\n\n    <object id=\"myExperience4812788644001\" class=\"BrightcoveExperience\">\n        <param name=\"bgcolor\" value=\"#FFFFFF\" />\n        <param name=\"width\" value=\"640\" />\n        <param name=\"height\" value=\"360\" />\n        <param name=\"playerID\" value=\"2659807263001\" />\n        <param name=\"playerKey\" value=\"AQ~~,AAAAAyz2WOE~,aVUQ6mHrguBSAk3aprArcQ8EfouzY6bY\" />\n        <param name=\"isVid\" value=\"true\" />\n        <param name=\"isUI\" value=\"true\" />\n        <param name=\"dynamicStreaming\" value=\"true\" />\n        <param name=\"includeAPI\" value=\"true\" />\n        <param name=\"templateLoadHandler\" value=\"onTemplateLoad\" />\n        <param name=\"templateReadyHandler\" value=\"onTemplateReady\" />\n        <param name=\"@videoPlayer\" value=\"4812788644001\" />\n                <param name=\"adServerURL\" value=\"http://pubads.g.doubleclick.net/gampad/ads?sz=640x360&amp;iu=%2F7326%2Frogers.publishing%2Fmoneysense.CPGBusiness%2Fvideos&amp;ciu_szs=728x90%2C300x250&amp;impl=s&amp;gdfp_req=1&amp;env=vp&amp;output=xml_vast2&amp;ad_rule=1&amp;unviewed_position_start=1&amp;cmsid=1464\" />\n                <param name=\"linkBaseURL\" value=\"http://www.moneysense.ca/save/retirement/what-the-federal-budget-means-for-seniors/\" />\n        <param name=\"autoStart\" value=\"false\" />\n        <param name=\"wmode\" value=\"transparent\" />\n    </object>\n\n</div>\n\n<script type=\"text/javascript\">\n    brightcove.createExperiences();\n</script>\n\n<p>For the first time in Canadian history, there are more seniors over the age of 65 than there are children under the age of 15. What this means is that, over time, there will be fewer Canadians working to support the overall population. Seniors issues are only going to grow in importance.</p>\n<p>With that in mind, let&#8217;s dig into what happened in this budget related to seniors. Some of it we already knew, some of it adds up to real change and some omissions are worth noting.</p>\n<p><strong>Live chat:</strong> <a href=\"http://www.moneysense.ca/news/live-chat-your-federal-budget-questions-answered/\">Have questions? Tune in to our live chat &amp; our experts will answer</a></p>\n<h3><strong>The OAS reversal</strong></h3>\n<p>As already announced, the eligibility ages of the Old Age Security program will be restored. Budget 2016 proposes to cancel the provisions in the Old Age Security Act that would have increased the age of eligibility for OAS and Guaranteed Income Supplement benefits from 65 to 67 and Allowance benefits from 60 to 62 over the 2023 to 2029 period.</p>\n<p>Restoring the eligibility age for OAS and GIS benefits to 65 will put thousands of dollars back in the pockets of Canadians as they become seniors. These benefits are an important part of the retirement income of Canadians, particularly for lower-income seniors.</p>\n<p>Vulnerable seniors depend on this support, and without it, face a much higher risk of living in poverty.</p>\n<p>This announcement by the government is basically undoing something that wasn’t due to happen until 2023. The former government put it in place and the current government took it away. Aside from adding some bureaucratic paperwork, no one was impacted by this, although it was certainly hanging over the heads of investors and their planners. Most of them will be thrilled by this reversal, even if they have to amend their financial plans to reflect this.</p>\n<h3><strong>Guaranteed Income Supplement</strong></h3>\n<p>In Canada, the retirement income system has been successful in reducing the incidence of poverty among Canadian seniors due mainly to Canada Pension Plan (CPP) and OAS. However, of those who do struggle to make ends meet in retirement, single seniors are hardest hit. They are nearly three times more likely to live in low income than seniors generally. For that reason, the federal budget offers an increase to the GIS.</p>\n<p>The federal budget promises to top up this monthly non-taxable benefit for low-income OAS recipients, by up to $947 annually, improving the financial security of about 900,000 seniors across Canada. It doubles the current maximum GIS top-up and represents a 10% increase in the total GIS benefits available to the lowest-income single seniors. A few other key facts about the supplement increase:</p>\n<ul>\n<li>It represents an investment of over $670 million per year</li>\n<li>The graduated benefits are based on income threshold of $4,600</li>\n<li>The benefits will be phased out at income of $8,400 or more</li>\n<li>Going forward, they will be calculated based on individual (not combined) incomes</li>\n</ul>\n<p>That last point is especially meaningful to senior couples who have to live apart for reasons beyond their control and who will see an even greater increase in their GIS benefits. This enhancement will help to defer the higher costs of living of maintaining two residences and reduce the risk of increased poverty.</p>\n<p>This proposed increase supports those seniors who rely almost exclusively on OAS and GIS benefits and may therefore be at risk of experiencing financial difficulties. It allows low-income single seniors more freedom of choice with their finances, while knowing they will receive a guaranteed monthly benefit that will increase with inflation over time.</p>\n<p>However, Statistics Canada has indicated that the Low Income Measure (LIM) for a single senior is $22,000 per year so there is still more work to be done on this in order to bring these 900,000 low income seniors to a reasonable, liveable income.</p>\n<p>Here are a few scenarios that illustrate the impact of the changes:</p>\n<ul>\n<li><em>Lynn is a 74-year-old resident of Montréal, Quebec, who lives alone. With no income apart from OAS and GIS benefits, she struggles to make ends meet. The increase in the GIS top-up benefit for single seniors proposed in Budget 2016 will provide Lynn with an additional $947 per year.</em></li>\n</ul>\n<ul>\n<li><em>Charles is a 68-year-old widower residing in Edmonton, Alberta. Charles receives annual CPP benefits of $5,000 along with OAS and GIS benefits. The increase in the GIS top-up benefit for single seniors proposed in Budget 2016 will provide Charles with an additional $848 per year.  </em></li>\n</ul>\n<ul>\n<li><em>Heather and David have been married for 40 years. David, age 77, receives annual CPP benefits of $3,000 and OAS and GIS bene</em><em>fits of over $12,500. Heather, age 62, has annual earnings from her part-time job of $6,000 and receives over $5,800 </em><em>in Allowance benefits. Taken together, the OAS program provides Heather and David with over $18,300 in annual income support. </em><em>David requires long-term care and Heather and David must live apart. Budget 2016 proposes to allow David and Heather to receive their GIS</em><em> and Allowance benefits based on their individual incomes, recognizing the higher costs of living that Heather and David would face </em><em>living apart. As a result of the proposed change, David would receive over $14,300 in OAS and GIS benefits. Heather would receive about $8,300 in Allowance benefits. Taken together, the OAS</em><em> program would provide annual income support of about $22,600, an increase of more than $4,000 from current levels.</em></li>\n</ul>\n<h3><strong>Affordable housing for seniors</strong></h3>\n<p>Canada’s senior population is growing, and many seniors now find it difficult to afford housing that is suitable, or that allows them to easily stay in their homes as long as possible.</p>\n<p>Budget 2016 proposes to provide $200.7 million over two years, starting in 2016–17, to support the construction, repair and adaption of affordable housing for seniors. While funding will be provided under the Investment in Affordable Housing initiative, provinces and territories will not be required to cost-match these investments. This investment is expected to help improve housing conditions for more than 5,000 low-income senior households.</p>\n<p>This initiative helps seniors to age at home which is exactly what the majority of seniors prefer but with many seniors still living in the own homes, this program will need to be more fulsome and last longer than two years to offset the impending lack of affordable and accessible housing for this demographic. The provinces and territories will need to step up with their investments to augment this new federal funding.</p>\n<p>Seniors will also be interested to know that there are commitments to improve client services at the Canada Revenue Agency. The CRA will reduce their telephone wait times, new and more easily understood correspondence, and more liaison with local volunteer groups that provide help to low income Canadians with their tax returns.  This is a welcome announcement from the CRA.</p>\n<h3><strong>What’s missing from the budget?</strong></h3>\n<p>Seniors’ groups have been asking for a national pharmacare program to ensure cross-Canada price equity and availability, extended compassionate leave and a national caregivers program, as well as a national home care strategy to allow seniors to age with dignity in their homes. So, while we&#8217;re a little further down the path–there is more room to go.</p>\n<hr />\n<p><a href=\"http://www.moneysenseapproved.com/findanadvisor/\"><img class=\"alignleft wp-image-118650\" src=\"http://www.moneysense.ca/wp-content/uploads/2015/05/Screen-Shot-2015-04-30-at-4.48.05-PM.png\" alt=\"MoneySense Approved\" width=\"250\" height=\"178\" /></a><a href=\"http://www.moneysenseapproved.com/findanadvisor/\">Find the advisor who&#8217;s right for you</a></p>\n<p>Let us match you with a trusted financial advisor who has the skills, training and approach to money &amp; investing that you need.</p>\n<p><a href=\"http://www.moneysenseapproved.com/findanadvisor/\">Try our search tool now!</a></p>\n<hr />\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/save/retirement/what-the-federal-budget-means-for-seniors/\">What the budget means for seniors</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','What the budget means for seniors','<p>A closer look at changes to OAS, GIS and spending on seniors housing</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/save/retirement/what-the-federal-budget-means-for-seniors/\">What the budget means for seniors</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','inherit','closed','closed','','1038-revision-v1','','','2016-03-22 19:38:52','2016-03-22 23:38:52','',1038,'http://feedwordpress.radgeek.com/?rev=476c9d4ff42bc5ef1e87da5cb7ea6810',0,'revision','',0),(1432,1,'2016-03-22 19:22:43','2016-03-22 23:22:43','<div itemscope=\"itemscope\" itemtype=\"http://schema.org/VideoObject\">\n\n        <meta itemprop=\"duration\" content=\"PT17M48S\" />\n        <meta itemprop=\"thumbnailUrl\" content=\"http://newsandbusiness.rogersdigitalmedia.com.edgesuite.net/bcassets/13639244001/13639244001_4813100169001_thumbnail-for-video-4812788644001.jpg?pubId=13639244001\" />\n        <meta itemprop=\"name\" content=\"Budget 2016: MoneySense experts comment\" />\n        <meta itemprop=\"description\" content=\"MoneySense&#039;s Romana King, MoneyCoaches Canada&#039;s Janet Gray and Knowledge Bureau&#039;s Evelyn Jacks discuss the ramificiations of Budget 2016 for average Canadians.\" />\n        <meta itemprop=\"uploadDate\" content=\"2016-03-22T21:57:49+00:00\" />\n    \n    <div style=\"display: none;\"></div>\n\n    <script type=\"text/javascript\" src=\"http://admin.brightcove.com/js/BrightcoveExperiences.js\"></script>\n    <script type=\"text/javascript\" src=\"http://admin.brightcove.com/js/api/SmartPlayerAPI.js\"></script>\n\n    <object id=\"myExperience4812788644001\" class=\"BrightcoveExperience\">\n        <param name=\"bgcolor\" value=\"#FFFFFF\" />\n        <param name=\"width\" value=\"640\" />\n        <param name=\"height\" value=\"360\" />\n        <param name=\"playerID\" value=\"2659807263001\" />\n        <param name=\"playerKey\" value=\"AQ~~,AAAAAyz2WOE~,aVUQ6mHrguBSAk3aprArcQ8EfouzY6bY\" />\n        <param name=\"isVid\" value=\"true\" />\n        <param name=\"isUI\" value=\"true\" />\n        <param name=\"dynamicStreaming\" value=\"true\" />\n        <param name=\"includeAPI\" value=\"true\" />\n        <param name=\"templateLoadHandler\" value=\"onTemplateLoad\" />\n        <param name=\"templateReadyHandler\" value=\"onTemplateReady\" />\n        <param name=\"@videoPlayer\" value=\"4812788644001\" />\n                <param name=\"adServerURL\" value=\"http://pubads.g.doubleclick.net/gampad/ads?sz=640x360&amp;iu=%2F7326%2Frogers.publishing%2Fmoneysense.CPGBusiness%2Fvideos&amp;ciu_szs=728x90%2C300x250&amp;impl=s&amp;gdfp_req=1&amp;env=vp&amp;output=xml_vast2&amp;ad_rule=1&amp;unviewed_position_start=1&amp;cmsid=1464\" />\n                <param name=\"linkBaseURL\" value=\"http://www.moneysense.ca/save/retirement/what-the-federal-budget-means-for-seniors/\" />\n        <param name=\"autoStart\" value=\"false\" />\n        <param name=\"wmode\" value=\"transparent\" />\n    </object>\n\n</div>\n\n<script type=\"text/javascript\">\n    brightcove.createExperiences();\n</script>\n\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/news/panel-what-does-the-federal-budget-mean-for-you/\">Panel: What does the federal budget mean for you?</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','Panel: What does the federal budget mean for you?','<p>Did you miss our live panel? See the experts discuss here</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/news/panel-what-does-the-federal-budget-mean-for-you/\">Panel: What does the federal budget mean for you?</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','inherit','closed','closed','','1040-revision-v1','','','2016-03-22 19:22:43','2016-03-22 23:22:43','',1040,'http://feedwordpress.radgeek.com/?rev=31c25aa59fb6e2450655df0f0fe9dd83',0,'revision','',0),(1433,1,'2016-01-15 19:26:38','2016-01-15 19:26:38','Hyundai\'s Tucson is a solid contender in this segment but it falls just short of being the number one pick. Watch to find out why.\n\nMore videos: http://goo.gl/Kj1FlI\nBest cars in 2016: http://goo.gl/3xAVJi\nUpcoming reviews: http://goo.gl/pLtP6U\nAOA on Facebook: http://goo.gl/a47Cu1\n\nThe Mountain Garden: http://goo.gl/icFWcd','2016 Hyundai Tucson 1.6T Sport Review and Road Test - Detailed In 4k UHD!','','publish','open','open','','2016-hyundai-tucson-1-6t-sport-review-and-road-test-detailed-in-4k-uhd','','','2016-01-15 19:26:38','2016-01-15 19:26:38','',0,'http://www.l2ocredit.com/2016/01/15/2016-hyundai-tucson-1-6t-sport-review-and-road-test-detailed-in-4k-uhd/',0,'post','',0),(1434,0,'2016-03-24 05:53:32','2016-03-24 09:53:32','','2016 Hyundai Tucson 1.6T Sport Review and Road Test &#8211; Detailed In 4k UHD!','','inherit','open','closed','','2016-hyundai-tucson-1-6t-sport-review-and-road-test-detailed-in-4k-uhd-2','','','2016-03-24 05:53:32','2016-03-24 09:53:32','',1433,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-hyundai-tucson-1-6t-sport-review-and-road-test-detailed-in-4k-uhd-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(1435,0,'2016-03-24 05:53:32','2016-03-24 09:53:32','','2016 Hyundai Tucson 1.6T Sport Review and Road Test &#8211; Detailed In 4k UHD!','','inherit','open','closed','','2016-hyundai-tucson-1-6t-sport-review-and-road-test-detailed-in-4k-uhd-3','','','2016-03-24 05:53:32','2016-03-24 09:53:32','',1433,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-hyundai-tucson-1-6t-sport-review-and-road-test-detailed-in-4k-uhd-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(1436,0,'2016-03-24 05:53:33','2016-03-24 09:53:33','','2016 Hyundai Tucson 1.6T Sport Review and Road Test &#8211; Detailed In 4k UHD!','','inherit','open','closed','','2016-hyundai-tucson-1-6t-sport-review-and-road-test-detailed-in-4k-uhd-4','','','2016-03-24 05:53:33','2016-03-24 09:53:33','',1433,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-hyundai-tucson-1-6t-sport-review-and-road-test-detailed-in-4k-uhd-youtube-thumbnail-2.jpg',0,'attachment','image/jpeg',0),(1437,0,'2016-03-24 05:53:33','2016-03-24 09:53:33','','2016 Hyundai Tucson 1.6T Sport Review and Road Test &#8211; Detailed In 4k UHD!','','inherit','open','closed','','2016-hyundai-tucson-1-6t-sport-review-and-road-test-detailed-in-4k-uhd-5','','','2016-03-24 05:53:33','2016-03-24 09:53:33','',1433,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-hyundai-tucson-1-6t-sport-review-and-road-test-detailed-in-4k-uhd-youtube-thumbnail-3.jpg',0,'attachment','image/jpeg',0),(1438,0,'2016-03-24 05:53:33','2016-03-24 09:53:33','','2016 Hyundai Tucson 1.6T Sport Review and Road Test &#8211; Detailed In 4k UHD!','','inherit','open','closed','','2016-hyundai-tucson-1-6t-sport-review-and-road-test-detailed-in-4k-uhd-6','','','2016-03-24 05:53:33','2016-03-24 09:53:33','',1433,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-hyundai-tucson-1-6t-sport-review-and-road-test-detailed-in-4k-uhd-youtube-thumbnail-4.jpg',0,'attachment','image/jpeg',0),(1439,0,'2016-03-24 05:53:33','2016-03-24 09:53:33','','2016 Hyundai Tucson 1.6T Sport Review and Road Test &#8211; Detailed In 4k UHD!','','inherit','open','closed','','2016-hyundai-tucson-1-6t-sport-review-and-road-test-detailed-in-4k-uhd-7','','','2016-03-24 05:53:33','2016-03-24 09:53:33','',1433,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-hyundai-tucson-1-6t-sport-review-and-road-test-detailed-in-4k-uhd-youtube-thumbnail-5.jpg',0,'attachment','image/jpeg',0),(1440,1,'2015-11-19 16:34:21','2015-11-19 16:34:21','These are the top new CUV\'s at the LA Auto Show Full Article: http://driving.ca/infiniti/auto-shows/l-a-auto-show/ford-escape-infiniti-qx30-lead-the-suv-pack-in-l-a\n\nFollow Driving!\nTwitter: https://twitter.com/drivingdotca\nInstagram: http://instagram.com/drivingca\nFacebook: https://www.facebook.com/drivingdotca','LA Auto Show | Top New CUV\'s | Driving.ca','','publish','open','open','','la-auto-show-top-new-cuvs-driving-ca','','','2015-11-19 16:34:21','2015-11-19 16:34:21','',0,'http://www.l2ocredit.com/2015/11/19/la-auto-show-top-new-cuvs-driving-ca/',0,'post','',0),(1441,0,'2016-03-24 06:12:33','2016-03-24 10:12:33','','LA Auto Show | Top New CUV&#8217;s | Driving.ca','','inherit','open','closed','','la-auto-show-top-new-cuvs-driving-ca-2','','','2016-03-24 06:12:33','2016-03-24 10:12:33','',1440,'http://www.l2ocredit.com/wp-content/uploads/2016/03/la-auto-show-top-new-cuvs-driving-ca-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(1442,0,'2016-03-24 06:12:33','2016-03-24 10:12:33','','LA Auto Show | Top New CUV&#8217;s | Driving.ca','','inherit','open','closed','','la-auto-show-top-new-cuvs-driving-ca-2','','','2016-03-24 06:12:33','2016-03-24 10:12:33','',1440,'http://www.l2ocredit.com/wp-content/uploads/2016/03/la-auto-show-top-new-cuvs-driving-ca-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(1443,0,'2016-03-24 06:12:33','2016-03-24 10:12:33','','LA Auto Show | Top New CUV&#8217;s | Driving.ca','','inherit','open','closed','','la-auto-show-top-new-cuvs-driving-ca-3','','','2016-03-24 06:12:33','2016-03-24 10:12:33','',1440,'http://www.l2ocredit.com/wp-content/uploads/2016/03/la-auto-show-top-new-cuvs-driving-ca-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(1444,0,'2016-03-24 06:12:34','2016-03-24 10:12:34','','LA Auto Show | Top New CUV&#8217;s | Driving.ca','','inherit','open','closed','','la-auto-show-top-new-cuvs-driving-ca-4','','','2016-03-24 06:12:34','2016-03-24 10:12:34','',1440,'http://www.l2ocredit.com/wp-content/uploads/2016/03/la-auto-show-top-new-cuvs-driving-ca-youtube-thumbnail-2.jpg',0,'attachment','image/jpeg',0),(1445,1,'2015-09-02 06:25:38','2015-09-02 06:25:38','Maxima distances itself from Altima with crafted interior and a look all its own.','2016 Nissan Maxima SR','','publish','open','open','','2016-nissan-maxima-sr','','','2015-09-02 06:25:38','2015-09-02 06:25:38','',0,'http://www.l2ocredit.com/2015/09/02/2016-nissan-maxima-sr/',0,'post','',0),(1446,0,'2016-03-24 06:31:14','2016-03-24 10:31:14','','2016 Nissan Maxima SR','','inherit','open','closed','','2016-nissan-maxima-sr-2','','','2016-03-24 06:31:14','2016-03-24 10:31:14','',1445,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-nissan-maxima-sr-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(1447,0,'2016-03-24 06:31:14','2016-03-24 10:31:14','','2016 Nissan Maxima SR','','inherit','open','closed','','2016-nissan-maxima-sr-3','','','2016-03-24 06:31:14','2016-03-24 10:31:14','',1445,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-nissan-maxima-sr-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(1448,1,'2015-12-11 15:09:30','2015-12-11 15:09:30','Land Rover introduces an all-new Td6 turbo-diesel V6 in the Range Rover and Range Rover Sport full-size SUV s. This luxury SUV brand now has a fuel efficient diesel engine to power this 5 or 7 passenger vehicle. Diesel has long been used in Land Rover and Range Rover SUV s but now North America gets to experience these powerful off-road capable trucks.\n\nCompetitors to the Range Rover and Range Rover Sport are the Volvo XC90, Land Rover Discovery Sport, Lexus RX, Mercedes GLE Coupe, Mercedes-Benz GLE, Mercedes GLE, Mercedes M-Class, Mercedes ML-Class, Mercedes GLK, Mercedes GLC, Mercedes GLA, Mercedes GL, Mercedes G, BMW X5, BMW X6, BMW X3, BMW X1, Audi Q3, Audi Q5, Audi Q7, Audi Q6, Audi A7, BMW 5 Series GT, BMW 4 Series GT, BMW 3 Series GT, Infiniti QX70, Infiniti QX70, Volvo CX60, Volvo CX90, Lexus RX350, Lexus GX, Lexus LX, Porsche Cayenne, Porsche Macan, Range Rover Sport, Range Rover, Land Rover Discovery Sport, Land Rover Discovery, Land Rover LR4, Range Rover Evoque, Acura MDX, Acura RDX, Lincoln MKX, Lincoln MKC, Cadillac SRX, Jeep Grand Cherokee, VW Touareg and Volkswagen Touareg.\n\n\nTwitter: https://twitter.com/MotormouthCDN\nFacebook: http://tinyurl.com/motormouthfb\nMotormouth: http://www.motormouth.ca/\nSubscribe: http://tinyurl.com/motormouthsubscribe\nZack Spencer\nZach Spencer\nCanadian Car Review','2016 Range Rover Review','','publish','open','open','','2016-range-rover-review','','','2015-12-11 15:09:30','2015-12-11 15:09:30','',0,'http://www.l2ocredit.com/2015/12/11/2016-range-rover-review/',0,'post','',0),(1449,0,'2016-03-24 06:55:43','2016-03-24 10:55:43','','2016 Range Rover Review','','inherit','open','closed','','2016-range-rover-review-2','','','2016-03-24 06:55:43','2016-03-24 10:55:43','',1448,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-range-rover-review-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(1450,0,'2016-03-24 06:55:43','2016-03-24 10:55:43','','2016 Range Rover Review','','inherit','open','closed','','2016-range-rover-review-2','','','2016-03-24 06:55:43','2016-03-24 10:55:43','',1448,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-range-rover-review-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(1451,0,'2016-03-24 06:55:43','2016-03-24 10:55:43','','2016 Range Rover Review','','inherit','open','closed','','2016-range-rover-review-2','','','2016-03-24 06:55:43','2016-03-24 10:55:43','',1448,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-range-rover-review-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(1452,0,'2016-03-24 06:55:43','2016-03-24 10:55:43','','2016 Range Rover Review','','inherit','open','closed','','2016-range-rover-review-2','','','2016-03-24 06:55:43','2016-03-24 10:55:43','',1448,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-range-rover-review-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(1453,0,'2016-03-24 06:55:43','2016-03-24 10:55:43','','2016 Range Rover Review','','inherit','open','closed','','2016-range-rover-review-3','','','2016-03-24 06:55:43','2016-03-24 10:55:43','',1448,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-range-rover-review-youtube-thumbnail-2.jpg',0,'attachment','image/jpeg',0),(1454,0,'2016-03-24 06:55:43','2016-03-24 10:55:43','','2016 Range Rover Review','','inherit','open','closed','','2016-range-rover-review-4','','','2016-03-24 06:55:43','2016-03-24 10:55:43','',1448,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-range-rover-review-youtube-thumbnail-3.jpg',0,'attachment','image/jpeg',0),(1455,1,'2016-02-03 07:51:39','2016-02-03 07:51:39','Like Us on Facebook! https://www.facebook.com/pages/Camerons-Car-Reviews/349462695066112?ref=hl \nFollow Us on Instagram: cameronscarreviews \nSnapchat: camscarreviews \nCamerons Car Reviews Score: 5/5 \nPowertrain Options: 3.5 L V6 or a 2.5 L 4-Cylinder Hybrid with a CVT or 6-Speed Automatic FWD  \nEngine &amp; Performance\nBASE ENGINE SIZE 3.5 L \nCAM TYPE Double overhead cam (DOHC)\nCYLINDERS V6 \nVALVES 24\nVALVE TIMING Variable \nTORQUE 248 ft-lbs. @ 4700 rpm\nHORSEPOWER 268 hp @ 6200 rpm \nTURNING CIRCLE 40.0 ft. \nWeights and Capacities\nMAXIMUM TOWING CAPACITY** 1000 lbs. \nEPA INTERIOR VOLUME 119.6 cu.ft.\nCURB WEIGHT 3461 lbs. \nCARGO CAPACITY, ALL SEATS IN PLACE 16.0 cu.ft.\nMAXIMUM CARGO CAPACITY 16.0 cu.ft \nFuel\nENGINE TYPE Gas \nFUEL TYPE Regular unleaded\nFUEL TANK CAPACITY 17.0 gal. \nRANGE IN MILES (CTY/HWY) 357.0/527.0 mi.\nEPA MILEAGE EST. (CTY/HWY) 21/31 mpg \nCompetitors: Chevrolet Impala, Dodge Charger, Chrysler 300, Nissan Maxima, Kia Cadenza, Hyundai Azera','2016 Toyota Avalon Limited 3.5 L V6 Review | Camerons Car Reviews','','publish','open','open','','2016-toyota-avalon-limited-3-5-l-v6-review-camerons-car-reviews','','','2016-02-03 07:51:39','2016-02-03 07:51:39','',0,'http://www.l2ocredit.com/2016/02/03/2016-toyota-avalon-limited-3-5-l-v6-review-camerons-car-reviews/',0,'post','',0),(1456,0,'2016-03-24 07:13:33','2016-03-24 11:13:33','','2016 Toyota Avalon Limited 3.5 L V6 Review | Camerons Car Reviews','','inherit','open','closed','','2016-toyota-avalon-limited-3-5-l-v6-review-camerons-car-reviews-2','','','2016-03-24 07:13:33','2016-03-24 11:13:33','',1455,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-toyota-avalon-limited-3-5-l-v6-review-camerons-car-reviews-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(1457,0,'2016-03-24 07:13:33','2016-03-24 11:13:33','','2016 Toyota Avalon Limited 3.5 L V6 Review | Camerons Car Reviews','','inherit','open','closed','','2016-toyota-avalon-limited-3-5-l-v6-review-camerons-car-reviews-3','','','2016-03-24 07:13:33','2016-03-24 11:13:33','',1455,'http://www.l2ocredit.com/wp-content/uploads/2016/03/2016-toyota-avalon-limited-3-5-l-v6-review-camerons-car-reviews-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),