The Tax Blog for Smart Canadians

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...

So, you’ve decided to sell your most valuable asset this year. Maybe you saw an opportunity for a place you’ve had your eye on for some time and you pounced! Whatever the reason is, there will be tax consequences for such a move. Read on… Full story...

The federal government has announced a new measure to help workers who have been directly impacted by the coronavirus (COVID-19). What is it, and how does it affect you? Full story...

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. Full story...

RRSP season is upon us! 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...

It’s the age-old tax planning question: should I invest in my RRSP or my TFSA? The answer to this as to any other tax question is that it depends. Don’t worry, this article won’t be another comparative of the differences between these two programs. It will simply ask 5 questions that you should consider before you make a choice. Full story...

The Canadian government recently made a significant announcement about relief measures related to CERB payments received by self-employed individuals and interest payable by those having received COVID-related benefits. Read on for details. Full story...

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… 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...