I use the family summary to who’s using what and who’s getting what.
It would be nice to see the GST and CTB on there also. Maybe even the RRSP ded limit.
I’d even go further and suggest those are also on the 5y summary, to see fluctuations.
Has any consideration been given to this?
Nicole
I would love to see a combination of a Taxable Benefits Letter and benefits amounts on the Family Summary.
I would love to see a summary of as many of the Federal and Provincial benefit amounts as practical, including but not limited to the following:-
CCB - Canada child benefit,
CDB - Child disability benefit
GSTC - Goods and services tax/harmonized tax credit,
WITB - Working income tax benefit advance payments,
ACB -Alberta child benefit,
ACLAR - Alberta climate leadership adjustment rebate,
AFETC - Alberta family employment tax credit,
OTB - Ontario trillium benefit,
PQ - related provincial benefits,
Provinces - other provincial benefits.
In addition I would like the following explanation in your own words:-
Tax benefits are based on qualifying criteria during the filing tax year and payable during the twelve month benefit period starting the following July.
These benefits are based on this tax year based on adjusted family net income and province of residence. Adjustments may be made for marital status, age and number of dependent children, pro-rated for date of change of marital status and child custody within the filed tax year, and, pro-rated for change of province of residence or entry or exit from Canada.
Any change of marital status should be reported by filing the RC65 Marital Status Change. Any change of child custody should be reported by providing a copy of the child custody agreement in addition to the RC65. In the event of Joint child custody agreements, the benefits may be pro-rated. Please consult your tax accountant and/or Canada Revenue Agency for details.
Please note that filing your change of marital status on your tax return assumes that the date of marital status change took place on December 31st of that calendar.
To obtain the correct benefit assessments, it is recommended that you file your change of marital status, child custody, and province of residence as soon as possible after the tax year end to avoid delays and/or changes to your benefits payments.
put them in your client letter…
Since posting my suggestions above I have taken the 3 session template editor course. As you suggest, I can add this information to my client letter, or, create a separate client benefits letter.
I am leaning towards a separate custom client benefits letter due to the huge confusion by the general public regarding the benefits payments and eligibility.
I concur. I can do this myself.