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Welcome to our personal accounting blog page
At Naicker and Associates we are aware that personal tax services require an in-depth understanding of your current financial situation and your long-term objectives. We provide personal tax management advice and strategies to capitalize on immediate savings and maximize future opportunities.
Our personal tax services include: personal tax preparation and other personal tax and accounting services, such as Caregiver services, voluntary Disclosure, adjusted Cost Base (ACB) calculations as well as estates & trusts services.

29 10, 2020

What Is Involved in a Forensic Audit of a Charity?

By |2021-09-15T22:23:49+00:00October 29th, 2020|Business, Personal, resource|0 Comments

With charity-scandals so often grabbing the headlines as of late, many people are wondering what measures are used to keep charitable organizations from being misused or abused. Each year, the Canada Revenue Agency audits approximately one percent of registered charities. This may take the form of a field audit at the charity’s location, or an […]

30 09, 2020

What Financial Help Can I Get in BC Because of COVID-19?

By |2021-09-15T22:24:03+00:00September 30th, 2020|Business, Personal, resource|0 Comments

Canadian government both provincial and federal are putting in place several different types of financial help for citizens during the current COVID-19 pandemic. The financial help becoming available is changing and increasing rapidly. These are the benefits available as of March 31, 2020, that we are aware of.

Provincial (British Columbia):

1. BC Emergency Benefit

This is intended […]

12 06, 2019

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

By |2021-09-15T22:24:44+00:00June 12th, 2019|Personal, resource|0 Comments

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 what your […]

1 04, 2019

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

By |2021-09-15T22:25:04+00:00April 1st, 2019|Personal, resource|0 Comments

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 […]

21 03, 2019

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

By |2021-09-16T07:48:49+00:00March 21st, 2019|Personal, resource|0 Comments

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 planning on retiring in the next 5 years, here are some things that you […]

13 03, 2019

Are You Ready for the Tax Season?

By |2021-09-15T22:25:20+00:00March 13th, 2019|Business, Personal, resource|0 Comments

Are You Ready for the 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.  Set yourself a goal to get ahead of the tax season. Staying ahead of the game and having everything organized can help you to be […]

26 02, 2019

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

By |2021-09-15T22:25:26+00:00February 26th, 2019|Personal, resource|0 Comments

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 your account or […]

15 08, 2018

What’s a TSFA account?

By |2021-09-15T22:26:18+00:00August 15th, 2018|Personal, resource|0 Comments

A TSFA account (Tax-free Savings Account) is a government-sponsored investment account that was introduced in 2009 as a way to encourage Canadians to save for their retirements. For many people, a TSFA is a simple, little bank account where you can store away some money and not pay any taxes on it. You collect the […]

25 05, 2018

What you should know about rental property tax deductions in BC

By |2021-09-15T22:26:51+00:00May 25th, 2018|Business, Personal, resource|0 Comments

If you are renting property in British Columbia, whether that is a separate property or one or more rooms in your home, there are many expenses that can be deducted when doing your personal tax planning and calculating your rental income.

Some of the basic expenses you can claim are:
•    Mortgage interest
•    Property taxes
•    Utility costs
•   […]