Did you sell your house in 2016 or later? File a tax return and claim the principal residence tax exemption for the capital gains.
February brings many questions with tax season approaching fast. One of the most common topics being automobile deductions. Read more
2018 is almost upon us as the year draws to a close. It’s time, once again, to take advantage of the many personal and business RRSP and tax-planning opportunities that are still available. Read more
Tax Credits for Students: How College Students in Canada Can Save
Common Deductions and Tax Credits for Students
The most common tax credits for students, or deductions, are moving expenses and child care expenses.
Every business owner should be concerned about creditor proofing his assets. Consider these suggestions:
The Canada Pension Plan (CPP) is a contributory, earnings-related social insurance program. It ensures a measure of protection to a contributor and their family caused by the loss of income due to retirement, disability and death. Read more
When deciding as to whether a salary should be paid to a family member, or more specifically to one’s spouse, numerous questions arise. Read more
If you run your own business or you are self-employed, you may be tempted to report only part of your income to the tax authorities. Or you might consider suppressing information about your activities. Read more
Voluntary Disclosure Program
If you owe money to any of the tax authorities because you failed to file a return for one or more years, you should take advantage of the voluntary disclosure program. Read more
One of the more common expenses claimed by taxpayers are automobile expenses (applies to any motor vehicle such as a van, bus, pickup truck, station wagon, SUV, or other truck). Many individuals use their vehicles for work or business and incur personal expenses in doing so. Read more