Back to School Tax Breaks

Like tax season, back-to-school season rolls around annually with certainty. But in today’s inflationary environment, the start-up costs for getting the family organizing for the school year may seem daunting. The good news is that tax and financial advisors can help clients understand their tax planning options and manage all the receipts that can lead to tax breaks later in the spring during tax filing time. Here’s a primer of topics you may wish to discuss:

The government’s financial results will be released for the first quarter of the year no later than May 29, 2015, just in time for Canada’s most comprehensive 2015 tax and wealth planning workshop, featuring five top experts in the area of transition planning.

June 15 is the date of the next quarterly instalment payment for 2015.

The Canada Revenue Agency (CRA) has always been serious about penalizing tax evasion, and they are sharpening their focus on investigating anyone who facilitates or encourages non-compliance.

We generally believe, living in Canada, that we have the safest banking system in the world. Certainly we’re in the top 10, right?

When starting a small business, whether as a proprietorship or a corporation, entrepreneurs can fall into a number of tax traps. 

A flurry of recent media activity has raised the red flag on how deep in the red most Canadians are, reporting that more people are carrying higher levels of debt than at any other time in history.