The Tax Blog for Smart Canadians

As tax season quickly approaches and 2017 comes to a close, you may be looking for ways to optimize your return. Fortunately, there’s still time to look at small changes that could have a big impact, and our UFile tax experts have compiled a list of tips geared at helping you get ready for year-end.

Canada is on track to welcome as many as 320,000 newcomers to the country in 2017, which means there will be many first time tax filers learning how to navigate the Canada tax system. If this is your first year in Canada, we've got you covered!

With the May 1st deadline for income tax return filing only days away, meeting that deadline might feel overwhelming. However, knowing what information to gather and which tools to use can make last-minute filing manageable, and even easy.

When it comes to making eco-friendly choices, Canadians have made significant strides. More Canadians use LED light bulbs, e-billing, and water-efficient systems than ever, indicating that Canadians care about the Earth.

There is no need to be bedridden this tax season; late March is a great time to take a look at your finances, spending habits, and potential savings. Looking at an entire year will offer you excellent perspective, and will help keep you on track (or get you on track) for the rest of 2017.

In 2014, Canadian post-secondary institutions saw graduation numbers climb to 515,865. Even more impressive were enrolment numbers, with 2,054,943 students signing up for the 2014/2015 school year.

It’s 2017, and families are more diverse than ever. The image of what a makes a“normal” family no longer looks like the traditional “husband-wife-son-and-daughter” unit.

Between energy sector lows, tightened mortgage rules, and the potential for new border taxes, sometimes it feels like Canadians just can’t catch a break.

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.

The start of a new year for most Canadians signals a feeling of optimism, a time of reflection, and a renewed sense of setting goals.

As Bill Murray famously noted, the best way to teach kids about taxes is by eating 30% of their ice cream.

More than 500,000 Canadians own real estate in Florida. Although impressive, this number leaves out the number of Canadians who rent long-term or pay regular short-term visits to the sunshine state, or other appealing areas along the sunbelt.

Canada’s gig economy is growing, and at a rapid pace. Starting and running a small business is a major undertaking, especially if you’re self-employed. While securing and retaining clients will always be top priority, keeping your financial house in order does not exactly come second, either.

The arrival of fall is a great time to start thinking about, and making plans to prepare your personal income tax return.

On July 20th, 2016, millions of Canadian families received their first Canada Child Benefit (CCB) payment. The CCB is a tax-free monthly payment from the government of Canada to eligible families with children under 18 years of age.

The end of tax season is upon us! For those of you who have still not filled your tax returns, here are some last-minute tips to properly complete you tax return.

Thinking of borrowing to invest? Let’s see some of the concepts of investment loans and how they affect your tax return.

The Quebec government recently announced a retroactive reduction to the additional contribution for the second child in a subsidized daycare. What does this mean for you? Let’s find out!

The purchase of your first home is arguably the most important financial decision in your life. What are some of the tax considerations and consequences concerning this purchase? Let’s have a look!

When dealing with tax returns, there is one specific document that is more important than all others. No, we’re not talking about tax slips, although they are important too. We are talking about your Notice of Assessment. Unfortunately many people ignore the assessment, even though it is a crucial document for your tax return. Let’s take a closer look at this document, and why it is so important.