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Alberta

The Child Benefit You Got was Not an Error

Published

4 years ago

4 minute read

The Child Benefit You Got was Not an Error

So a lot of people are wondering why money showed up for the Canada Child Benefit (CCB) yesterday (May 20) when they normally don’t qualify.

The CCB “one-time payment” for COVID-19 relief is actually formula driven but it is created by adding $3,600 for each additional child (not $300)… you’ll see in a minute why this is.

Step 1 – Add up the number of children that were under 6 years old in 2018 and multiply by $6,639.00

Step 2 – Add up the number of children that were between 6 and 17 years of age in 2018 and multiply by $5,602.00

This is your normal ANNUAL Canada Child Benefit entitlement before reductions.

However, for your May 2020 payment only, the formula adds $3,600 per child to bring the numbers to $10,239 and $9,202 per child based on age respectively.

If you have less than $31,120 of adjusted household income, you will get the full $300 extra, congrats, no more math for you.

For the rest of you it gets interesting or complicated, depending how you view math.

Any amount of adjusted household income between $31,120 and $67,426 causes your ANNUAL entitled CCB to be reduced by the following:

  • 7% of the amount of household income if you have 1 child
  • 13.5% of the amount of household income if you have 2 children
  • 19% of the amount of household income if you have 3 children
  • 23% of the amount of household income if you have 4 children or more

This is called the “first reduction”.  The maximum amount of household income subject to the first reduction formula is $36,306 more than the base $31,120 (meaning an income of $65,976)

Those of you over this number, you are not done yet.

Any amount of adjusted household income over $67,426 causes your ANNUAL entitled CCB to be reduced by the following:

  • 3.2% of the amount of household income if you have 1 child
  • 5.7% of the amount of household income if you have 2 children
  • 8% of the amount of household income if you have 3 children
  • 9.5% of the amount of household income if you have 4 children or more

This is called the “second reduction”.  There is no maximum amount of household income subject to the second reduction formula.  You keep calculating until you hit zero.

For example.   If you have one school-aged child in 2018, and your adjusted household income is $100,000 the formula would be this:

NORMAL MONTHLY BENEFIT:

  • First reduction: 67,426-31,120 = $36,306 x 7% = $2,541.42
  • Second reduction: 100,000-67,426 = $32,574 x 3.2% = $1,042.37
  • 1 child: $5,602
  • $5,602.00 minus $2,541.42 = $3,060.58 minus $1,042.37 = $2,018.21
  • $2,978.21 divided by 12 = $168.18/month CCB as a Normal Benefit

COVID19 MAY 2020 BENEFIT:

  • The first two reduction steps are the same but that 1 child is $3,600 more
  • 1 child: $9,202
  • $9,202.00 minus $2,541.42 = $6,660.58 minus $1,042.37 = $5,618.21
  • $5,618.21 divided by 12 = $468.18/month CCB as a one-time Benefit  (an extra $300 like promised)

So yes… an extra $300 per child for those already getting the benefit already… but for those that were not getting it before, but filed in 2018… and had an eligible child… the formula is recalculated with the $3,600 ($300 per month) change, and so many more households in Canada will be seeing some sort of amount.

For example, the lowest amount possible to collect would be with one school-aged child ($9,202 formula).

  • Households that make up to $163,069 will receive the full $300 for this child.
  • Households between $163,069 and $275,569 will receive less than $300 on a sliding scale from the Second reduction.
  • Households over $275,569 in this scenario would receive zero.

So almost every household with eligible children in Canada will see something coming their way for the May benefit to help with the extra costs with no schools or dayhomes open.

Sincerely,
Your Friendly Neighbourhood Tax Nerds

CGL Strategic Business & Tax Advisors

 

 

 

 

 

CV of Cory G. Litzenberger, CPA, CMA, CFP, C.Mgr can be found here.

 

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CEO | Director CGL Tax Professional Corporation With the Income Tax Act always by his side on his smart-phone, Cory has taken tax-nerd to a whole other level. His background in strategic planning, tax-efficient corporate reorganizations, business management, and financial planning bring a well-rounded approach to assist private corporations and their owners increase their wealth through the strategies that work best for them. An entrepreneur himself, Cory started CGL with the idea that he wanted to help clients adapt to the ever-changing tax and economic environment and increase their wealth through optimizing the use of tax legislation coupled with strategic business planning and financial analysis. His relaxed blue-collar approach in a traditionally white-collar industry can raise a few eyebrows, but in his own words: “People don’t pay me for my looks. My modeling career ended at birth.” More info: https://CGLtax.ca/Litzenberger-Cory.html

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Alberta

Red Deer Doctor critical of Alberta’s COVID response to submit report to Danielle Smith this May

Published on April 28, 2024

By

From LifeSiteNews

By Anthony Murdoch

Leading the task force is Dr. Gary Davidson, who was skeptical of mandates at the time.

Alberta Premier Danielle Smith will soon be receiving a little-known report she commissioned which tasked an Alberta doctor who was critical of the previous administration’s handling of COVID to look into how accurate the province’s COVID data collection was, as well as the previous administration’s decision-making process and effectiveness. 

As noted in a recent Globe and Mail report, records it obtained show that just less than one month after becoming Premier of Alberta in November of 2022, Smith tasked then-health minister Jason Copping to create the COVID data task force. 

Documents show that the Alberta government under Smith gave the new task force, led by Dr. Gary Davidson – who used to work as an emergency doctor in Red Deer, Alberta – a sweeping mandate to look at whether the “right data” was obtained during COVID as well as to assess the “integrity, validity, reliability and quality of the data/information used to inform pandemic decisions” by members of Alberta Health Services (AHS).  

As reported by LifeSiteNews in 2021, Davidson said during the height of COVID that the hospital capacity crisis in his province was “created,” was not a new phenomenon, and had nothing to do with COVID.

“We have a crisis, and we have a crisis because we have no staff, because our staff quit, because they’re burned out, they’re not burnt out from COVID,” Davidson said at the time. 

Davidson also claimed that the previous United Conservative Party government under former Premier Jason Kenney had been manipulating COVID statistics.  

In comments sent to the media, Smith said that in her view it was a good idea to have a “contrarian perspective” with Davidson looking at “everything that happened with some fresh eyes.” 

“I needed somebody who was going to look at everything that happened with some fresh eyes and maybe with a little bit of a contrarian perspective because we’ve only ever been given one perspective,” she told reporters Tuesday. 

“I left it to [Davidson] to assemble the panel with the guidance that I would like to have a broad range of perspectives.” 

After assuming her role as premier, Smith promptly fired the province’s top doctor, Deena Hinshaw, and the entire AHS board of directors, all of whom oversaw the implementation of COVID mandates. 

Under Kenney, thousands of nurses, doctors, and other healthcare and government workers lost their jobs for choosing to not get the jabs, leading Smith to say – only minutes after being sworn in – that over the past year the “unvaccinated” were the “most discriminated against” group of people in her lifetime. 

As for AHS, it still is promoting the COVID shots, for babies as young as six months old, as recently reported by LifeSiteNews.  

Task force made up of doctors both for and against COVID mandates  

In addition to COVID skeptic Dr. Gary Davidson, the rather secretive COVID task force includes other health professionals who were critical of COVID mandates and health restrictions, including vaccine mandates.  

The task force was given about $2 million to conduct its review, according to The Globe and Mail, and is completely separate from another task force headed by former Canadian MP Preston Manning, who led the Reform Party for years before it merged with another party to form the modern-day Conservative Party of Canada. 

Manning’s task force, known as the Public Health Emergencies Governance Review Panel (PHEGRP), released its findings last year. It recommend that many pro-freedom policies be implemented, such as strengthening personal medical freedoms via legislation so that one does not lose their job for refusing a vaccine, as well as concluding that Albertans’ rights were indeed infringed upon. 

The Smith government task force is run through the Health Quality Council of Alberta (HQCA) which is a provincial agency involved in healthcare research.  

Last March, Davidson was given a project description and terms of reference and was told to have a final report delivered to Alberta’s Health Minister by December of 2023. 

As of now, the task force’s final report won’t be available until May, as per Andrea Smith, press secretary to Health Minister Adriana LaGrange, who noted that the goal of the task force is to look at Alberta’s COVID response compared to other provinces.  

According to the Globe and Mail report, another person working on the task force is anesthetist Blaine Achen, who was part of a group of doctors that legally challenged AHS’s now-rescinded mandatory COVID jab policy for workers. 

Some doctors on the task force, whom the Globe and Mail noted held “more conventional views regarding the pandemic,” left it only after a few meetings. 

In a seeming attempt to prevent another draconian crackdown on civil liberties, the UCP government under Smith has already taken concrete action.

The Smith government late last year passed a new law, Bill 6, or the Public Health Amendment Act, that holds politicians accountable in times of a health crisis by putting sole decision-making on them for health matters instead of unelected medical officers. 

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Alberta

Former senior financial advisor charged with embezzling millions from Red Deer area residents

Published on April 26, 2024

By

News release from Alberta RCMP

Former senior financial advisor charged for misappropriating nearly $5 million from clients

On April 4, 2024, the RCMP’s Provincial Financial Crime Team charged a Calgary resident for fraud-related offences after embezzling millions of dollars from his clients while serving as a senior financial advisor.

Following a thorough investigation, the accused is alleged to have fraudulently withdrawn funds from client accounts and deposited them into bank accounts he personally controlled. A total of sixteen victims were identified in the Red Deer area and suffered a combined loss of nearly $5 million.

Marc St. Pierre, 52, a resident of Calgary, was arrested and charged with:

  • Fraud over $5,000 contrary to section 380(1)(a) of the Criminal Code; and,
  • Theft over $5,000 contrary to section 344(a) of the Criminal Code.

St. Pierre is scheduled to appear in Red Deer Provincial Court on May 14, 2024.

“The ability for financial advisors to leverage their position to conduct frauds and investment scams represents a significant risk to the integrity of Alberta’s financial institutions. The investigation serves as an important reminder for all banking clients to regularly check their accounts for any suspicious activity and to report it to their bank’s fraud prevention team.”

  • Sgt. John Lamming, Provincial Financial Crime Team

The Provincial Financial Crime Team is a specialized unit that conducts investigations relating to multi-jurisdictional serious fraud, investments scams and corruption.

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