Winnipeg, Mb. Tax and financial advisors should discuss a new benefit being introduced in January 2004 with any clients who are dealing with the devastating news of terminal cancer or other life-threatening illness in the family, according to Canada’s best-selling and most trusted tax author, Evelyn Jacks.

“The February 2003 budget introduced an important new taxable benefit called the Compassionate Care Special Benefit which allows for up to 6 weeks of benefits to be paid to those who provide care or support to a gravely ill family member,” says Mrs. Jacks. “In a stressful time, every little bit helps.”

According to Mrs. Jacks, the benefit will be available starting on January 4, 2004 and eligibility and application should be discussed by potential benefit recipients with their employers, their financial advisors and the folks at Human Resources Development Canada. “Financial planning must go on especially when difficult times occur,” said Mrs. Jacks. “It may be a good idea to have a third party act for you, if you are not in a position to think clearly yourself.”

The new benefits will be claimable when the claimant has worked at least 600 hours of insurable hours—there are also eligibility provisions for self-employed fishers--and when a medical certificate is presented to show that the ill family member has a significant risk of death within 6 months. According to Mrs. Jacks there are other important details to know:

1) There is a two-week waiting period and then a maximum benefits payment period of up to 6 weeks.
2)  The family member must be needed by the sick person to provide psychological comfort or emotional support or arrange for care from a third party provider, such as a health care professional or directly provide the care or participate in providing care.
3)  Benefits are payable for ill family members who live outside of Canada.
4)  Benefits are payable within any 26-week period.
5)  The amounts received are taxable.

The benefits will be payable to care for family members who are the taxpayer’s:

a.  child or the child of taxpayer’s spouse or common law partner
b.  wife/husband or common-law partner;
c.  father/mother; or
d.  father’s wife/mother’s husband;
e.  common-law partner of your father/mother.

To interview Evelyn Jacks, or for more information about booking Evelyn for your next professional workshop or client appreciation event contact:

The Knowledge Bureau
204-953-GROW (4769)
or reception@evelynjacksproductions.com

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Evelyn Jacks is the best-selling author of 30 books on the subject of personal income taxation and President of The Knowledge Bureau, publisher of live and continuing education content in the financial services industry. For more information on courses and books from Evelyn Jacks, please see www.knowledgebureau.com or call 1-866-953-4769.