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...

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...

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...

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...

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. Full story...

In the latter half of 2022, the federal government announced new measures to help Canadians cope with soaring inflation as part of its Affordability Plan: the doubling of the GST credit, the Canada Dental Benefit and the Canada Housing Benefit. Let’s have a look at these measures. Full story...

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. Full story...

In the latest budget announcement, the Quebec government introduced a new $500 special one-time cost of living tax credit that can be claimed by over 6 million Quebec residents in 2022 for tax year 2021. Let’s find out the details. Full story...

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. Full story...

Pursuing post-secondary studies can be expensive, but there are income tax measures that can help you with those costs. Let’s find out what they are. 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...

The best part of filing your tax return is (hopefully) getting a refund. You’ve earned it! Now, what should you do with the cash? Let’s find out. Full story...

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. Full story...

COVID-19 or not, RRSP season is here! 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. Full story...