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
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
On January 1st, 2017, the LCGE increased to $835,716 of capital gains realized by an individual on qualified small business corporation shares. The LCGE has been indexed to inflation for the years following 2014. The new limits apply to any taxpayer who has claimed the LCGE previously.
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
What if I Can’t Pay my Taxes?
First of all – don’t panic!
You’re not alone; many taxpayers have found themselves in financial distress and unable to pay immediately.