The Tax Blog for Smart Canadians

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...

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

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. Full story...

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. 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 Income Tax Act provides for many credits and deductions to help reduce your tax payable. There is one tool in particular which is very powerful in doing that, but often forgotten: the carryforward. What is it, and how is it used? 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...