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Principal Residence Exemption

Principal Residence Exemption

Did you sell your house in 2016 or later?  File a tax return and claim the principal residence tax exemption for the capital gains. Commencing with sales in the 2016 tax year, you must report basic information, such as the date of acquisition, the proceeds of...
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...
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...
Owner-Managed Business-Creditor Proofing

Owner-Managed Business-Creditor Proofing

Every business owner should be concerned about creditor proofing his assets. Consider these suggestions:   1. Transfer assets out of the company: Place capital assets in a separate holding corporation so that subsequent legal claims that arise in the operating...