Tax time is here —

Money Digest, April, 2001

Here is a list of some relevant tax changes from author and tax expert Evelyn Jacks:

* Full indexation of brackets and rates; increased personal amounts.

* Inclusion rates for capital gains and losses have been reduced. The inclusion rate now stands at 50%.

* The tax rate on the middle tax bracket has been reduced.

* Students may benefit from an increase in the tax exemption for scholarship income.

* Higher child-care expense deductions.

* Optional, new recognition of same-sex couples for tax purposes.

* Increases to disability tax deductions.

* New medical expense credit for those who have to make home renovations for increased accessibility.

* Larger child tax benefits to help poor and middle-income families.

* Charitable tax credit for securities donated through an employee stock option plan.

* New "tax on split income" rules.

MUTUAL FUND NEWS

* Phillips, Hager & North has merged the PH&N Euro-Pacific Equity and PH&N Overseas Equity funds.

* Triax Capital Management has launched two labour-sponsored funds: New Generation Biotech Balanced and New Generation Biotech Equity.

* 360 Capital Corp. has also launched two series of labour-sponsored funds: VentureLink Fund Series I and VentureLink Fund Series II.

* Georgian Capital has terminated three funds: Georgian Partner Bond Fund B, Georgian Partner Global Fin Serv B and Georgian Partner Northern 24 B.

* Elliott & Page has capped the management expense ratio on its Growth & Income Fund. The rate for 2001 will be set at 2.25%.