It’s hard not to get caught up in the trade wars saga, and of course it has serious economic repercussions. In times like these, our tax system can help. The federal government has indicated three pillars of support will be enacted, details of which are to come shortly:
Last week in Part 1 of CPP - Now or Later, we discussed that one of the more difficult decisions for those approaching retirement is when to start receiving their CPP retirement pension.
According to an article posted on the Canadian Revenue Agency (CRA) website, an Ottawa woman was recently sentenced to 30 days house arrest and ordered to pay a fine of $47,789 due to false statements made on her income tax return.
Before the Family Tax Cut provisions it was straightforward, a given RRSP contribution was always more beneficial if claimed by the higher-income spouse.