The Goods and Services Tax (GST) is a 5% federal tax charged on most Canadian goods and services. For provinces who have harmonized their provincial and federal sales taxes, GST and PST are [...]
The Canadian tax system determines an individual’s tax obligations based on their residency as opposed to their citizenship in the country. This is an important distinction to understand; [...]
A common question that arises from clients is: How can the office space in my home qualify for a tax deduction and specifically, what expenses are deductible and how much can be claimed? In this [...]
The Refundable Dividend Tax On Hand (RDTOH) account is a mechanism in the tax system that refunds a portion of tax when taxable dividends are distributed to shareholders. Passive investment [...]
The Registered Education Savings Plan (RESP) is a government registered savings plan that helps individuals to save for a child’s post-secondary education in Canada. Simply put, the Government of [...]
Becoming a parent for the first time is a wonderful and exciting event that will forever change you, though it may be one of the greatest moments in your life it doesn’t necessarily mean it’s [...]
What is Tax on Split Income (TOSI)? Tax on split income (TOSI) rules apply where a family member has received income for an attempt to reduce and split taxes. The TOSI rules apply to individuals [...]
Small Business Venture Capital Tax Credit Review. Everything you need to know the Small Business Venture Capital Tax Credit.
It has been a challenging few weeks for all of us, and each day delivers major updates and further announcements, sometimes by the hour. The Government of Canada is taking significant and [...]
The RRSP deadline is approaching (Monday, March 1, 2021) and 2020 brings an additional $6,000 of contribution room for Tax-Free Savings Accounts, bringing the cumulative maximum to $69,500. [...]
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