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What Tax Credits Can I Claim in Canada?

Tax credits are amounts that you can claim against your taxable income to reduce your taxable income. In Canada, there are two types of tax credits: refundable and non-refundable. Refundable tax credits are tax credits that you can claim whether you have any taxable income or not. That means that the Canada Revenue Agency will [...]

By |September 25th, 2019|Uncategorized|0 Comments

What are the Advantages of RDSPs (Registered Disability Savings Plans)?

A registered disability savings plan, or RDSP, are savings plans that offer extraordinary benefits for those who qualify for and use them, or even in estate planning and trusts for those with disabled dependents. The RDSP is a federal plan for people with disabilities that provides the following advantages: -           Tax Free Earnings -           Government [...]

By |September 6th, 2019|Uncategorized|0 Comments

What Tax Changes are in Store for Small Businesses in 2019?

What Tax Changes are in Store for Small Businesses in 2019?   It seems every year brings about new tax changes, and 2019 is no exception. The 2019 taxes for small business have come with some changes, so keep reading to learn about some of the small business tax changes that came into effect this [...]

By |June 26th, 2019|Uncategorized|0 Comments

As a Non-Resident, What Taxes Should I Pay on my Canadian Rental Property Income?

As a Non-Resident, What Taxes Should I Pay on my Canadian Rental Property Income?   If you are a non-resident of Canada, but own a rental property and generate Canadian rental income in Canada, you might be confused about what your tax requirements are. Non-residents tax obligations can be confusing, so read on to see [...]

By |June 12th, 2019|Uncategorized|0 Comments

Tracking Your Expenses for a Business Trip: Which Receipts Should You Save?

Tracking Your Expenses for a Business Trip: Which Receipts Should You Save?   Whether you are on business trips every week, or are about to embark on your first trip ever, one of the most common question is which receipts to save when tracking your business expenses. When doing business taxes, there are many write-offs [...]

By |May 31st, 2019|Uncategorized|0 Comments

Can I Claim the Exception for the Speculation & Vacancy Tax?

British Columbia’s new Speculation and Vacancy tax is an annual tax for owners of residential property in certain taxable regions of B.C. The main idea behind this new BC tax is to discourage housing speculation and encourage owners of vacant houses to make these properties available for rental. Thankfully, the BC NDP government has claimed [...]

By |April 1st, 2019|Uncategorized|0 Comments

Retiring in the Next 5 Years? Here is What you Need to Know.

Retiring in the Next 5 Years? Here is What you Need to Know.   Are you approaching retirement age? Retirement is a milestone that many of us will spend years working and saving toward. A time when we can finally sit back and enjoy the fruits and hard work of our lives. If you are [...]

By |March 21st, 2019|Uncategorized|0 Comments

Are You Ready for the 2019 Tax Season?

Are You Ready for the 2019 Tax Season?   Many people wait until the last couple of weeks to scramble and get their tax information ready before it is due on April 30th.  In 2019, set yourself a goal to get ahead of the tax season. Staying ahead of the game and having everything organized [...]

By |March 13th, 2019|Uncategorized|0 Comments

Are RESPs a Good Plan for My Kids’ College Funds?

Are RESPs a Good Plan for My Kids’ College Funds?   If you want free money from the Government, then the simple answer is yes!  RESPs are the best way for Canadians to save for post-secondary education. Disclaimer: The information below is believed to be correct at the time of writing, but please discuss with [...]

By |February 26th, 2019|Uncategorized|0 Comments

Tips for Organizing Business Expenses

One of the most important ideas to keeping your small business successfully organized is by laying a strong foundation right from the beginning. It is most beneficial to start a plan right from the beginning and stick with it – don’t leave receipts out to be organized at a later date.   Fortunately, there are [...]

By |February 8th, 2019|Uncategorized|0 Comments