by Chris Hammond | Feb 20, 2018 | News
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...
by Chris Hammond | Feb 1, 2018 | News
February brings many questions as tax season quickly approaches. One of the most common topics being automobile deductions. Updated for 2020, the ceiling on the capital cost of passenger vehicles for capital cost allowance (CCA) purposes remains at $30,000 (plus...
by Chris Hammond | Dec 7, 2017 | News
Capital Gains Exemption Deduction The lifetime capital gains exemption deduction, if you dispose of shares in a qualified small business corporation, is $835,716, or $1,000,000 for a qualified farm property or qualified fishing property. If you have already claimed...
by Chris Hammond | Nov 23, 2017 | News
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...
by Chris Hammond | Aug 16, 2017 | News
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...
