The Tax Blog for Smart Canadians

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.

In our last article, we saw the basics of RRSPs. Get your scuba gear ready! We are about to dive into deeper waters of RRSPs.

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

Taxes can seem intimidating and scary! Documentation relating to taxes can seem dryer than the Nevada desert. It is important though to start getting a better understanding of your tax situation, or what I call becoming “tax aware”.

As a new year begins and tax season approaches we would like to offer a couple of tax-saving resolutions to add to your list.

Have you ever thought that you have received all your slips, pressed NETFILE in your tax software and then ended up receiving more slips in the mail? Maybe you learned about a credit after filing and that you should have applied for.

No matter what kind of taxpayer you are, 2014 is a tax year full of changes that will affect your tax return. Before starting your tax return, take a moment to acquaint yourself with the many changes to the Federal return and with those that apply to your own province.

I don’t like getting bills in the mail. I don’t have home delivery from Canada Post and it is currently -15 C in my neighborhood. That’s why I have arranged for all or most of my business correspondence addressed to arrive by email or online.