May 16, 2017
How do you know if you are eligible for the disability tax credit (DTC)? CRA’s website has a tool available where you can review some questions […]
April 10, 2017
An instalment payment is a partial payment of the total amount of tax payable for the year. Instalments are not paid in advance; they are paid […]
April 4, 2017
Filing personal returns on time is crucial. This is especially important when you have a balance owing because the CRA will charge you a late-filing penalty […]
March 27, 2017
The Federal Government’s 2017–18 Budget gives Canadians a taste of what they might expect over the next couple of years: attempted efficiencies, closed tax loopholes, steady […]
March 9, 2017
In what situations can you claim? If you drive over 40 kilometers from home to obtain medical treatments, you may be eligible to claim your travel […]
February 28, 2017
What is it? A Registered Education Savings Plan (RESP) is a special investment account that helps families plan for post-secondary education funding, and provides future tax-saving […]
February 7, 2017
A Registered Retirement Savings Plan (RRSP) is a personal savings account registered with Canada Revenue Agency (CRA) to help you save for retirement and reduce your […]
January 3, 2017
The Latest Principal Residence Exemption Rule Affects Every Canadian Homeowner You’ve sold your home and there’s lots of financial matters on your mind – legal fees, […]
November 16, 2016
The Tax Free Savings Account (TFSA) is a savings account that allows any individual over the age of 18 and who has a valid Canadian SIN […]
September 22, 2016
Whether it is for personal taxes or business taxes, parting with your hard earned money is painful enough without the process being more complicated than it […]
September 8, 2016
You may or may not be aware of the fraudulent Canada Revenue Agency (CRA) phone calls, emails and letters circulating at this time. CRA usually contacts […]
September 7, 2016
Further to our blog of April 16, 2016, we wanted to keep you informed of the latest in a string of scams that use the identity […]
July 21, 2016
It is quite well-known that medical expenses can be claimed as a tax credit, but what is less known is just how such a tax credit […]
April 11, 2016
Commencing in 2015, the Canada Revenue Agency has implemented changes to reporting foreign property on Form T1135. The changes include a simplified method for reporting foreign […]
April 6, 2016
On February 15, 2016, Finance Minister Charles Sousa delivered the 2016 Ontario Budget. Please find below some highlights from that release that we thought would be […]
April 10, 2014
1. Collect all your stuff in a shoebox – the older the better. You want her to spend all her time sorting through your receipts at […]
July 23, 2013
An important costing technique that can make your bookkeeping easier is job costing. But what, you may ask, is job costing? It is a costing technique […]
June 14, 2013
For individuals considering adoption or currently involved in the adoption process CRA offers an Adoption Tax Credit. Adoption period: begins at the earlier of : the […]
May 17, 2013
If you move to a new location, you may be eligible to deduct your moving expenses. The general rules are you may deduct moving expenses from […]
April 3, 2013
Something that has become popular in the past few years and we would certainly recommend, is obtaining online access to all the information held by CRA […]
March 8, 2013
Starting in January 2013, CRA requires tax returns to be filed electronically. This applies to both T1 individual income tax returns and T2 corporation income tax […]
February 7, 2013
A registered retirement savings plan (RRSP) is an account you can set up to save money for the future. There are immediate tax benefits in the […]
January 9, 2013
limited liability – separates your personal assets from business and limits legal liability exposure to business assets only. Becomes even stronger factor if consider expanding the […]
December 10, 2012
One often reads or hears about year end tax loss selling and the deadline to execute these kinds of trades that comes along each December. Here’s […]
November 23, 2012
Normally you would think of a GPS system as a useful tool in your own vehicle to get you where you are going. GPS systems have […]
March 20, 2012
If you are entitled to a refund, the earlier you file, the earlier you will get your money back from the Canada Revenue Agency (“the CRA”). The CRA […]