The Personal Financial Planner's Manual™
Summary of Contents of Update 61

This Chapter includes an income tax return for the previous year. This return has been
updated to 2009.
 

We had a number of inquiries as to why a factor of 40 weeks is used in the calculation of the maximum amount of child care expenses deductible by the higher income parent. While there are 52 weeks in the year, the divisor of 40 weeks in the equation is derived from the definition of the periodic child care expense amount in the Income Tax Act (ITA 63(3)).

This Chapter has been updated to include the amounts for various social security benefits that are effective as of July 1, 2010.

The legislation to implement Budget 2009 revised the conversion rate and the thresholds for the Working Income Tax Benefit (WITB). These revised amounts are included in the Chapter.
 

This Chapter includes the proposals in the Federal Budget of March 4, 2010 to change the
legislation governing employee stock option plans.
 

We have written a new Chapter 4-10 on Investment Funds. The material in Chapter 4-07 on exchange traded funds has been incorporated into the new Chapter. The material in Chapter 4-07 on derivatives has previously been moved to Chapter 4-5.
 

We have written a new Chapter 4-10 on Investment Funds. The material in Chapter 4-08 has been incorporated into the new Chapter.
 

We have written a new Chapter 4-10 on Investment Funds. The material in Chapter 4-09 has been incorporated into the new Chapter.
 

We have written a new Chapter 4-10 on Investment Funds, which covers open-ended mutual funds, exchange traded funds and hedge funds.
 

The Chapter has been updated for the 3rd quarter prescribed interest rates, OAS benefits, and the latest statistics on the Consumer Price Index. It has been also updated for the 2010 automobile allowance and benefits rates.