Year-end tax planning tips (December 2014)
While individual tax returns for 2014 don’t have to be filed, at
the earliest, until April 30, 2015, it’s worth taking the time now
to evaluate one’s tax situation and consider po...
Income splitting for families (December 2014)
The prospect of being able to split income within a family group so
as to reduce overall tax payable has been on the tax horizon for a
few years now. A recent announcement indicates that the federa...
“Phishing” season for taxpayers (May 2014)
While the recent publicity around the “Heartbleed” computer bug has
highlighted the vulnerability of taxpayers to gaps in computer
security systems, such security glitches aren’t the...
How to file your 2013 tax return (April 2014)
By the beginning of April (and usually earlier), Canadian taxpayers
will have in hand all of the information needed to prepare their
2013 income tax returns. Employers who issue T4 slips to their
Last minute tax-saving strategies (April 2014)
By the time most Canadians sit down to organize their various tax
slips and receipts, and undertake to complete their tax return for
2013, the most significant opportunities to minimize the tax bill
What's new on the 2013 tax return? (March 2014)
The one constant in tax is change. As such, the income tax return
form filed by millions of Canadians each spring is never exactly
the same as the one filed for the previous year. In certain years
The CRA’s new tax informant program (February 2014)
Under Canadian law, all residents of Canada are subject to Canadian
income tax. However, the reach of the Canadian tax system does not
stop at the Canadian border, as all Canadian residents are
Digital currency and the tax system (February 2014)
The growth in the use of digital currency has been increasingly in
the news over the past year as the price of the most well-known
type of digital currency, bitcoin, has increased significantly and
RRSPs – it’s that time again… (February 2014)
Soon, television and radio, as well as the internet, will be filled
with advertisements reminding Canadians that it is, once again,
registered retirement savings plan (RRSP) season....
Tax deadlines for the 2014 tax year (January 2014)
Each new tax year brings with it a listing of tax payment and
filing deadlines as well as changes with respect to tax planning
strategies. Some of the more significant dates and changes for
Tax 101 for snowbirds (December 2013)
Every year, thousands of Canadians (mostly retirees) escape our
winter by traveling south, usually to the U.S., for periods lasting
up to even the entirety of winter. And while the value of the
Year-end tax planning tips (November 2013)
With the exception of RRSP contributions (in most cases) and
pension income splitting, any tax planning strategies intended to
reduce one’s tax payable for 2013 must be implemented by the end
Doing business with the CRA online (October 2013)
Most business owners want to spend the minimum amount of time
possible on tax-related matters, and to get such matters dealt with
and resolved as quickly as possible. The Canada Revenue Agency
Tax help for family caregivers (August 2013)
The baby boom generation, whose members are now between the ages of
48 and 67, is also known, with good reason, as the “sandwich
generation”. Many baby boomers are now in the position o...
Fixing an error on your tax return (May 2013)
As of the middle of April, the Canada Revenue Agency (CRA) had
received just under 10 million individual income tax returns for
the 2012 tax year. It’s a near certainty that some number of th...
A year-end tax to-do list (December 2012)
For most Canadians, December means holiday celebrations and school
vacations. In the tax world, however, December 31 marks the
deadline by which most tax planning and saving strategies must be
Flying south for the winter (November 2012)
Every year, thousands of Canadians escape our winter by traveling
south, usually to the U.S., for a few weeks or months, or even the
whole winter. And while the value of the Canadian dollar relativ...
Getting a first Instalment Reminder (August 2012)
August is the month in which millions of Canadian taxpayers receive
an Instalment Reminder from the Canada Revenue Agency (the CRA).
For taxpayers who have received many such notices in the past,
The changing face of pensions in Canada (July 2012)
The subject of employer-sponsored pension plans is an important
topic in personal finance and retirement planning these days, as
members of the baby boomer generation begin or approach their own
Understanding the OAS “recovery tax” (June 2012)
The recent changes to Canada’s Old Age Security system have put a
renewed focus on the income Canadian retirees can expect to receive
from federal government sponsored retirement income programs...
Adapting to a penny-less economy (June 2012)
The announcement that the Canadian Mint would cease producing the
penny in the fall of 2012 evoked some nostalgia and even some
amusement. But, the more important question, for consumers and
Making sense of your credit rating (April 2012)
Canadians hear a lot about "credit ratings" and "credit reports",
but it's likely only a minority of them understand what a credit
rating actually is or how it's arrived at. Even fewer Canadians
Getting your return in—when and how? (April 2012)
It's that time of year again. By the middle of March, taxpayers
will usually have in hand all of the information needed to prepare
their 2011 income tax returns. Issuers of T4s (for employment
Pension income splitting (March 2012)
Each January and February, there is a flurry of television, radio,
and online advertisements and phone calls and e-mails from
financial advisers and financial institutions encouraging Canadians
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