August 2025 Poll
A public consultation on whether the CDIC’s deposit insurance limit should be raised to $150,000 per deposit category is underway. Do you agree?Medical Expenses: Are Hardwood Floors Deductible?
An interesting decision was delivered last month in a Tax Court of Canada case (Marion Sotski v. The Queen (2013) TCC 286) in Edmonton regarding the deductibility of the cost of hardwood floors in the home of a person suffering from Parkinson’s disease.
Canadians Make Over $1.1 Trillion
According to a recent Stats Canada National Household Survey, Canadians are very industrious: collectively, 27.3 million of us earned $1.1 trillion, and two thirds of Canadians pay taxes.
RDSPs: Catch-Up Grants are Available
A good argument can be made for a Registered Disability Savings Plan (RDSP) deposit before year end to maximize government support for the disabled in the family.
Evelyn Jacks: Donate Securities – Review Portfolios for Winners and Losers before December
An effective year-end tax strategy is to donate to charity. Investors can do so by transferring qualifying shares to their favorite charity and avoid capital gains taxes by doing so.
Real Estate Agent Tests Gross Negligence Definition
The Tax Court of Canada recently allowed aspects of an appeal of one prominent real estate agent in Winnipeg from reassessments made by the Minister of National Revenue (MNR).
RDSPs: Year End Planning News
If you have a client who has a Registered Disability Saving Plan and is receiving disability assistance payments from the plan, a portion of these payments will be shown in Box 131 of a T4A slip and added to income on the 2013 return.
