The Tax Blog for Smart Canadians

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...

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...

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...

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...

As the COVID-19 pandemic rages on, the federal government continues to give benefits to those who are hit the hardest. Read on to learn about the latest benefits and how they affect your tax return. 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...

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

With the COVID-19 pandemic raging on, many have been adversely affected, especially financially. Are there tax-efficient ways to raise cash in these trying times? Read on…  Full story...

The federal government recently introduced a wage subsidy to help businesses keep their staff working during the COVID-19 pandemic. What is it, and how does it work? Let’s find out. Full story...

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. Full story...

Another year is in the books but unfortunately, 2020 was a particularly challenging one. However, one thing remains constant in our lives: taxes! Let’s get ready for another tax season with the readiness checklist. Full story...

The federal government recently announced new measures to help seniors during the coronavirus pandemic. What are they? Let’s find out. Full story...

A new tax season is upon us. Unfortunately, it begins in the coldest time of the year, so let’s warm up this winter with a primer on the changes to the tax return. Full story...

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. 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...

With the legalization of marijuana in Canada, a whole new sector and a new set of companies are available to invest in. The potential gains are limitless. The potential gains are limitless. However, they also come with a lot of risk. Read on to find out how you can minimize the downsides. Full story...

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

With the pandemic taking hold in 2020, the federal government provided financial help to Canadians who lost their jobs. How do these benefits affect your tax return? Let’s find out. Full story...