The Tax Blog for Smart Canadians

What happens on your tax return when you sell assets at a profit or a loss? This article will explain. Full story...

An important component of the tax return for older aged Canadians, many measures have been enacted by the federal government related to pension income. Let’s have a look at them Full story...

There are a multitude of deductions that are found on the tax return that can help you reduce your tax bill. Let’s look at some of the more useful ones. Full story...

In this article, we will see the major changes that are coming for 2025. Full story...

RRSP loans can make sense as a tool to supercharge your RRSP contributions. Let’s look at the pros and cons of RRSP loans and if they’re worthwhile. Full story...

A common myth heard often is: “I made little to no money last year, so I don’t need to file a tax return”. This is wrong, because you’re leaving money on the table. Let’s find why you should file a tax return Full story...

What happens to certain claims on your tax return and benefits when you separate? Let’s find out. Full story...

In certain instances, there can be confusion as to whether you are employed or self-employed. Let’s have a look at the factors that will determine the answer to this question. Full story...

In this article, we will see five useful non-refundable and refundable tax credits on the tax return. Full story...

Another tax season is just around the corner. Let’s have a look at some important changes coming to the tax return. Full story...

Recently the federal government announced some important changes to rental income for short-term rentals, such as AirBnB and Vrbo. Let’s have a look at the changes. Full story...

The government recently announced an important change to how capital gains will be taxed. Let’s find out what that is, and how it affects you. Full story...

The federal government recently announced new additional contributions to the Canada Pension Plan (CPP). Let’s find out what they are. Full story...

As the old expression goes, these are the two certainties of life. What happens tax-wise when we pass away? How are our assets taxed when they get transferred to our beneficiaries? Full story...

What are some of the most beneficial credits and benefits offered to families? Let’s find out. Full story...

In this blog article, we will compare the registered accounts offered by the federal government: RRSP, TFSA and FHSA. Full story...

Another tax season is just around the corner. Let’s have a look at some important changes coming to the tax return. Full story...

Starting in tax year 2022, the federal government introduced a new tax for specific property owners who “underused” their residential property during the year. Let’s dive into the details. Full story...

In its most recent fall economic statement, the federal government announced important changes to the tax treatment of short-term rentals such as those offered through Airbnb and Vrbo. Let’s find out what they are. Full story...