📢 Canada Child Benefit Update for July 2024 Starting July 19, The Canada Child Benefit (CCB) amounts will increase. Families with children under six will receive up to $7,787 annually per child, and those with children aged six to 17 will get up to $6,570 per child. That is an annual increase of 4.7 per cent compared to 2023. The adjustment aims to help families with the rising costs of raising children. The CCB is recalculated every July based on the previous year's adjusted net income. Next month’s CCB payment will go out on Aug. 20 ℹ️ Source of Information 👇 https://lnkd.in/gU2UF9xp #CanadaChildBenefit #CCB #FamilySupport #ChildBenefits #FinancialAssistance #ParentingSupport #RaisingKids #CanadianFamilies #GovernmentBenefits #ChildcareSupport #FinancialRelief #CostOfLiving #ParentingLife #FamilyBudget #TaxCredits #Childcare #CanadaBenefits #FamilyFinances
Belmonte Leger SEP
Accounting
Montreal, Quebec 231 followers
We serve every size and type of business, from start-ups to assisting private business to trade in public markets.
About us
Belmonte Léger SEP’s mission is to lead in the area of consulting services to companies and individuals, through addressing a wide range of business needs, while upholding integrity, strengthening relationships, preserving trust, and respecting confidentiality. Our strengths lie in the broad range of professional expertise we offer to our clients in the fields of financial reporting, assurance, taxation, corporate finance, consulting and SR& ED tax credit programs.
- Website
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http://www.belmonteleger.com
External link for Belmonte Leger SEP
- Industry
- Accounting
- Company size
- 11-50 employees
- Headquarters
- Montreal, Quebec
- Type
- Privately Held
- Founded
- 1990
- Specialties
- Assurance, Taxation, Financial Advisory, Tax Credit Programs, Consulting, Financial Reporting, Corporate Financing, Scientific Research and Experimental Development (SR&ED), Accounting, and Auditing
Locations
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Primary
8535 St-Laurent Blvd.
Montreal, Quebec H2P 2M9, CA
Employees at Belmonte Leger SEP
Updates
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📢 Clean Technology ITC Eligibility Canadian businesses can claim the Clean Technology Investment Tax Credit (CT ITC) if they invest in eligible clean technology or clean energy equipment. The credit aims to support investments in technologies that reduce greenhouse gas emissions and promote a clean economy. Eligible entities include corporations, partnerships, and trusts engaged in qualifying activities. To benefit from the regular Clean Technology Investment Tax Credit (CT ITC) rate of 30%, businesses must meet specific labour requirements, including prevailing wages and apprenticeships. Failure to comply results in financial penalties, and not electing to meet these requirements reduces the credit rate to 20%. These requirements apply to work performed on or after November 28, 2023. Detailed eligibility criteria are outlined on the CRA website below. ℹ️ Source of information 👇 https://lnkd.in/gUNvejgz ℹ️ Version française 👇 https://lnkd.in/eH8btjbb #CleanTechnology #InvestmentTaxCredit #GreenEconomy #ClimateAction #GHGReduction #SustainableInvestments #CleanEnergy #BusinessIncentives #CTITC #GreenTech #TaxCredits #CleanEconomy #Sustainability #EnergyEfficiency #TaxIncentives #GreenInvestments #DailyNews
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💡 Psychotherapy and Counselling Services Now Tax Exempt Psychotherapy and counselling services in Canada are exempt from GST/HST. This exemption applies to licensed professionals in regulated provinces and those with equivalent qualifications. The move aims to make mental health care more affordable. Services covered by provincial health plans and provided by other health professionals like dentists and physiotherapists are also tax-exempt. ℹ️ Source of information 👇 https://lnkd.in/erXUDiKp #MentalHealth #Psychotherapy #TaxExemption #GSTHST #AffordableHealthcare #MentalHealthSupport #CanadaHealthcare #HealthServices #Therapy #MentalWellness #MentalHealthAwareness #ProfessionalCounselling #HealthcarePolicy #MentalHealthCare #CanadianHealth #Therapist #DailyNews
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📢 Supporting Canadians & Fighting Climate Change The Government of Canada announces the July Canada Carbon Rebate to help households offset pollution pricing costs. This includes a Small Business Tax Credit to assist enterprises in reducing their carbon footprint. The Canada Carbon Rebate for Small Businesses is a new measure that will return $2.5 billion from the revenue collected from the price on carbon pollution between 2019–2020 and 2023–2024 through an automatic refundable tax credit to an estimated 600,000 small businesses that operate in provinces where the pollution pricing system applies. Eligible small businesses can file for retroactive payments, and households in provinces under the federal system receive quarterly rebates. The rural supplement has doubled to 20%, benefiting those with higher energy needs. These measures aim to cut pollution, support household budgets, and empower businesses. The federal carbon pricing system helps cut pollution while supporting household budgets. A family of four in these provinces receives the following every three months: - Alberta: $450 - Saskatchewan: $376 - Manitoba: $300 - Ontario: $280 - New Brunswick: $190 - Prince Edward Island: $220 - Nova Scotia: $206 - Newfoundland and Labrador: $298 ℹ️ More information 👇 https://lnkd.in/ez4udSBa ℹ️ Version française 👇 https://lnkd.in/eEBK3Krg #CanadaCarbonRebate #ClimateAction #SupportingCanadians #CarbonPricing #SmallBusinessSupport #PollutionReduction #EcoFriendly #Sustainability #EnvironmentalPolicy #HouseholdRebates #FederalGovernment #GreenInitiatives #CarbonFootprint #FinancialRelief #RuralSupport #EcoConscious #ClimateChange #CarbonTax #CanadianEconomy #DailyNews
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📢 Fuel Tax Pause: A Relief for Canadians A new survey shows 56% of Canadians support pausing fuel taxes to ease the cost of living, with higher support (74%) among those struggling financially. The proposed fuel tax holiday could save drivers around 30 cents per litre. Support varies by region, with the strongest in Saskatchewan, Newfoundland & Labrador, and Alberta. However, concerns about environmental impacts and government costs remain, especially in Quebec. Are you for or against a Fuel Tax Pause? ℹ️ Source of Information 👇 https://lnkd.in/esRirWpv #FuelTaxPause #CostOfLiving #CanadianDrivers #TaxRelief #EconomicSupport #CanadaSurvey #RegionalSupport #LivingCosts #FuelPrices #EnvironmentalImpact #GovernmentCosts #CanadianEconomy #FinancialRelief #PublicOpinion #TaxHoliday #SupportOrAgainst #CanadianTaxes #EconomicDebate #FuelTax
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📢 Opened a First Home Savings Account (FHSA) in 2023? Here are 10 Tips! 1. Report your FHSA on your tax return, even with no contributions. 2. Claim up to $8,000 in contributions as a deduction. 3. FHSA contributions are tax-deductible; RRSP transfers are not. 4. Receive a T4FHSA slip from your issuer. 5. Respect annual and lifetime contribution limits. 6. Carry forward unused contributions. 7. Qualifying withdrawals are non-taxable. 8. Use FHSA and RRSP for the same home. 9. Access FHSA details via My Account. 10. Check your FHSA participation room on your notice of assessment. #FHSA #FirstHome #TaxTips #Canada #FirstHomeSavingsAccount #HomeBuying #TaxTips #FinancialPlanning #FirstTimeHomeBuyer #HomeOwnership #TaxDeduction #RRSP #CanadianTaxes #TaxSavings #FinancialAdvice #RealEstateInvesting #TaxSeason2024 #HomeSavings #CanadianFinance #DailyPost
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📢 Canada Carbon Rebate Update The Canada Carbon Rebate (CCR), formerly known as the Climate Action Incentive Payment, is a tax-free amount to help individuals and families offset federal pollution pricing costs. The rural supplement has increased from 10% to 20% of the base amount, with eligibility reverting to 2016 Census data. Those previously ineligible under the 2021 Census data will now receive the supplement. Retroactive payments from April and July will be issued in October. ℹ️ Source of Information 👇 https://lnkd.in/erFQyJun ℹ️ Version française 👇 https://lnkd.in/eA_w4JaA #CanadaCarbonRebate #ClimateAction #TaxFreeRebate #FederalPollutionPricing #ClimateActionIncentive #RuralSupplement #EnvironmentalPolicy #CanadianTaxes #Sustainability #ClimateChange #FinancialSupport #GreenEconomy #RetroactivePayments #CarbonTax #ClimateIncentives #EcoFriendly #SustainableLiving #EnvironmentalRebate #GovernmentSupport
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📢 Taxing Home Equity: A New Concern The Liberal government faces criticism for allegedly considering a tax on home equity. Critics argue this could hurt homeowners and the housing market, potentially decreasing home values and deterring investment. Proponents suggest it could address housing affordability by redistributing wealth. The issue is contentious, with strong opinions on both sides about its impact on the Canadian housing landscape. What are your thoughts on this? 💬 Share your comments below. ℹ️ Source of Information 👇 https://lnkd.in/eT97xdv3 #HomeEquityTax #HousingMarket #CanadianRealEstate #TaxDebate #Homeowners #HousingAffordability #RealEstateInvestment #TaxPolicy #Wealth #PropertyValues #LiberalGovernment #EconomicImpact #RealEstate #CanadaHousing #Homeownership #InvestmentProperty #HousingCrisis #PublicDebate #FinancialPlanning #CanadianEconomy
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📢 Canada's Marginal Tax Rates Much Higher than U.S. A recent study highlights that Canadian provinces have significantly higher marginal tax rates compared to U.S. states, especially for high-income earners. Incomes over $150,000 face the steepest tax increases in Canada. The highest rates are found in Quebec and Nova Scotia, with marginal rates exceeding 50% for incomes over $300,000. This disparity may push high-income earners to move to the U.S. for more favorable tax conditions. The report calls for attention to Canada's tax competitiveness to retain talent. ℹ️ Source of Information 👇 https://lnkd.in/ek3q9Mnr #TaxRates #Canada #MarginalTax #HighIncomeEarners #CanadianEconomy #TaxPolicy #RetainTalent #Quebec #NovaScotia #TaxDisparity #IncomeTax #FinancialPlanning #TaxReform #EconomicImpact #TaxBurden #CanadianTaxes #TaxStudy #Taxation #DailyNews #StayInformed
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📢 Canada's Digital Services Tax (DST) is now in effect! Foreign tech giants must pay a 3% levy on revenue from Canadian users, retroactive to 2022. This move aims to level the playing field and ensure large multinational companies pay their fair share of taxes. However, it may lead to higher costs for consumers as tech companies might pass the tax on through increased digital service prices... ◾ Increased Prices: Companies might pass on the cost of the tax to consumers by raising prices on goods and services. ◾ Reduced Choices: Some companies might reduce their presence or pull out of certain markets to avoid the tax, leading to fewer options for consumers. ◾ Improved Services: On the positive side, the tax revenue could be used to improve public services and infrastructure, potentially benefiting consumers indirectly. ◾ Fairer Market: By ensuring large companies pay their fair share, smaller businesses might find it easier to compete, potentially leading to more diverse and innovative products and services. ◾ Economic Impact: The overall economic environment might be influenced, potentially affecting employment rates and economic stability, which can have indirect effects on consumers' purchasing power and confidence. ℹ️ Source of Information 👇 https://lnkd.in/eRneWnKc #DigitalTax #Canada #TechNews #Economy #GlobalNews #PriceIncrease #July2024 #CanadianConsumers #Taxes #Taxation #TaxIncrease #DailyNews #CanadaDST #TechTax #CanadianTaxes #TaxFairness #TaxPolicy #CanadianEconomy #ConsumerCosts