Mark Your Calendar: Critical Deadlines for May and June

Tax season never truly ends, it seems, as there are many more upcoming tax filing, investment planning and education milestones to discuss with your clients over the next six months. Check out our handy checklist below and then test yourself – what are the conversation openers you’ll use and with which clients? It’s your opportunity to shine with every member of the household:

Don’t forget the RRSP contribution deadline of March 3, to maximize your 2013 RRSP deduction and reduce net and taxable income.

G & J Muirhead Holdings Ltd. v. The Queen (2014) TCC 49, a recently released judgment from the Tax Court of Canada (TCC), serves as an important reminder to all taxpayers that rely on the corporate status of their small business for favourable tax treatment: the personal services business distinction could cost you. 

Are you making choices between investing in a TFSA or an RRSP? Which should come first?

Sophie T.K. Tse successfully achieved her DFA-Tax Services Specialist designation from Knowledge Bureau in 2012. We are pleased to have Sophie as one of our distinguished grads.

From a personal tax perspective, rules surrounding donations were a significant part of the tax changes introduced as part of the 2014 Federal Budget announced on February 11.

This guest column was submitted by Doug Nelson, author of the newly released 3rd edition of Master Your Retirement, published by Knowledge Bureau.