October 1 - Important Changes Coming to VDP
Effective October 1, 2025, important changes will be made to the Voluntary Disclosures Program (VDP) at the CRA in order to make it easier for taxpayers to correct unintentional filing errors or omissions. The details on how the changes will affect your clients are being discussed in the CE Summit held September 17 and this course is now available for online enrolment and CE accreditation, after the virtual event. Here are some highlights of the changes.Maximize After-Tax Income to Improve Future Income
Paying taxes is a sign of good fortune in Canada. You may be surprised to know that about one third of Canadians do not pay taxes, but of the two thirds that do, an average of 84% of income was left after taxes.
When is a Debt Bad for Tax Purposes?
In Coveley v. The Queen the Tax Court of Canada (TCC) had to decide whether certain allowable business investment losses (ABILs) claimed in the 2005 and 2006 taxation years by a couple who owned a business were correct.
Evelyn Jacks: Gathering Documents a Pain, But It Sure Pays Off!
I was so glad to hear from Russ, in response to last week’s blog. He shared that he had read my book; realized he missed claiming moving expenses and then adjusted his prior filed returns. To his delight, he received a $6600 refund – found money! Good for you Russ!
Grad Spotlight - Andre Tells Us Why the DFA-Tax Services Specialist Designation Has Been Valuable
Andre Yong Tit Kow successfully achieved his DFA-Tax Services Specialist designation from Knowledge Bureau in 2013. We are pleased to have Andre as one of our distinguished grads.
Claiming Refundable Tax Credits
No income? File a tax return anyway. You’ll need to do that to receive income supplements from the government, often paid monthly or quarterly, including federal tax credits like the Canada Child Tax Benefit, GST/HST credit or the Universal Child Care Benefit.
The Ideal RRSP Contribution
How do I calculate my ideal RRSP contribution?
