February brings many questions with tax season approaching fast. One of the most common topics being automobile deductions. Read more
Capital Gains Exemption Deduction 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
In a recent Technical Interpretation, CRA noted that an employer-provided per diem meal allowance will not be taxable where the following conditions are met: 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.
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