RRSP and Tax Planning

RRSP and Tax Planning

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. Contribute to Your RRSP The most popular tax tool available to taxpayers is...
Per Diem Meal Allowance

Per Diem Meal Allowance

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: It must be a reasonable amount; The allowance is received to cover expenses while travelling away from the...
Tax Credits for Students

Tax Credits for Students

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. Moving Expenses You can deduct moving expenses if you...
Claiming Automobile Expenses

Claiming Automobile 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...