Seniors Targeted? The Tax Audits Begin
The Canada Revenue Agency (CRA) routinely reviews or audits tax filings, including personal, trust, corporate, and HST returns. The most common types of reviews that focus on personal tax returns include, but are not limited to, Pre-Assessment Reviews, Processing Reviews, and the Matching Program. This year there is a new focus: the Multigenerational Home Renovation Tax Credit introduced to help families better care for their elders. But claiming it, like other tax benefits, comes with a tax snare. Read on to learn more.Minimizing Instalment Payments
The second quarterly instalment for 2014 will be due on June 15. It’s important to minimize that payment and keep your clients’ money invested.
Switching Claims for Adult Dependants Possible
In Ullah v. The Queen, (2013) TCC 387, the Honourable Mr. Justice Paris had to decide whether the appellant was entitled to the wholly dependent person credit (the amount for an eligible dependant) for her 2006-2009 taxation years.
Evelyn Jacks: Affluence Is About Managing Cash Flow
What is wealth? Many people don’t think that "wealthy" describes them or their lifestyle, but to the outside world they may seem quite affluent. Wealth really is more about a state of mind than an actual number.
Part 4: The Art and Science of Retirement Planning
Doug Nelson, author of Master Your Retirement, concludes his Art and Science of Retirement Planning series with a look at some ideas on how to navigate the five stages of retirement.
What is the Difference Between Rental Income in the U.S. vs. Canada?
Rental income is virtually treated the same in both countries in terms of what is taxable as income and what is deductible as an expense; however a difference arises in respect of depreciation.
Tuition Fees Paid for Knowledge Bureau Certificate Courses Qualify for Tax Credits?
Knowledge Bureau is a private, designated educational institute and our tuition fees qualify for the Tuition Fee Tax Credit if over $100.
