How long do you have to leave money in an RRSP regarding a Home Buyers Plan? There are some important rules to follow in order to make the RRSP contributions work for the Home Buyer’s Plan. ...Read More

When running your own business, there are a number of income splitting opportunities. Many of these options apply whether or not the business is incorporated. You can hire your family and pay them a salary. If ...Read More

If employment earnings include commissions, you may be able to claim certain expenses for which you have not been reimbursed. Form T2200, Declaration of Employment Conditions, must be completed, signed by the employer and submitted ...Read More

When donations are made to registered charities, copies of the receipts must accompany personal tax returns. Corporations are required to list any donations with the charity registration number. The Charity Tax Credit is based on 17% ...Read More

A Company qualifies as an SBC, Small Business Company, if at least 90% of its assets are used for active business purposes carried on primarily in Canada. A CCPC, Canadian Controlled Private Company, holding only shares ...Read More

Income splitting is important for everyone, and especially so for senior citizens. If you receive Old Age Security (OAS) benefits, your entitlement is clawed back at the rate of 15% of your taxable income in ...Read More

When running your own business, there are a number of income splitting opportunities. Many of these options apply whether or not the business is incorporated. You can hire your family and pay them a salary. If ...Read More

Wanted: Dead or Alive. Your Taxes It is important to note that RRSP’s have been set up to ensure that the Canada Revenue Agency (CRA) benefits from the removal of funds, whether you are dead or ...Read More

What business expenses can be 100% deductible? Good question. One that your email box would not be large enough to list or our memories large enough to contain all the items. The answer is much simpler than the ...Read More

by: Bob Aaron in the Toronto Star The pitch sounds very seductive. “Go ahead. Make your mortgage tax deductible. Yes. It can be done. Yes it’s legal.” The pitch is used to promote an investment technique ...Read More

When investing in real estate, be sure to look at the tax implications of every penny you spend. If you need to reduce your income tax payable, consider taking depreciation on Real Estate Properties. Depreciation is ...Read More

To be taxed now or to be taxed later. That is the question. Is it nobler in the mind to take your Real Estate Expense deductions now or to take them later? _____ When it comes to ...Read More