The Tax Blog for Smart Canadians

In this article, we will discuss five overlooked tax deductions and credits that can save you quite a bit on your tax return.

An RESP is a registered account that allows you to save money in a tax-efficient way for your children’s post-secondary education. What does it entail, and why is it such a great financial tool? Let’s find out. ;

Often overlooked, the moving expenses deduction is a great tool that allows workers and students to claim travel expenses when moving to a new job or school location. Let’s take a deep dive into this deduction.

The RRSP deadline for the 2022 tax year is fast approaching! Time to go through the couch covers and scrounge up the last of our savings to make that all-important contribution. Let’s look at some fundamental concepts of RRSPs.

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

A revolution has occurred in the way that people invest and exchange funds through the advent of cryptocurrency. The CRA has noticed and has laid out how it is taxed. Let’s take a look.

The principal residence exemption represents an important tax break for Canadians who own their home. In this article, we will look at the ins and outs of this exemption.

A tax-free savings account is a great investment vehicle that allows you to shelter your gains from taxation. Let’s have a look at the ins and outs through a Q&A.

Every year, Canadians make contributions to their RRSPs to save on their tax bill and fund their future retirement. There is some confusion as to what the RRSP deadline actually is for the upcoming tax return, so let’s clear that up.

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

Due to the pandemic, home office expenses have become the hot topic in taxation. Many people were required to work from home, and others started side gigs to make ends meet. Read on to find out what you can claim as home office expenses if you’re an employee or self-employed.

COVID-19 has fundamentally changed the way people work. Due to widespread unemployment brought on by the pandemic, many individuals have started working side gigs through sharing economy apps to make ends meet. Let’s look at some of the tax implications.

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

The COVID-19 pandemic has fundamentally changed the way people work. Gone are the office cubicles, now replaced by bedrooms and kitchen tables. What can you claim on your income tax return regarding your home office? Read on…

As the federal government begins to wind down Canada Emergency Response Benefit (CERB)> new programs have been announced to help individuals who are encountering continued financial hardships.

Government support measures for seniors during the COVID-19 pandemic

You just got a call from a “CRA agent” telling you that you owe money to the government and that you have to pay off the debt quickly or there will be legal consequences. Can this be legitimate? How can you avoid falling for a scam?

The federal government recently announced measures to support students financially during the COVID-19 pandemic. What are they? Let’s find out.

This article’s intent is not to offer investment advice. You should always consult a certified financial advisor before making any decisions. The statistics presented above should give you “food for thought” before making rash decisions about your portfolio.

Joining the gig economy has never been easier than it is today due to advances in technology. It can be as simple as downloading an app and owning a car. And the gig economy is becoming more common: according to StatsCan (2016), over 1.7 million Canadians have a side hustle.