Things have started to turn around for the Canadian dollar in the second quarter of 2025. It hit a 22 year low in January of 2025. Investors and property owners, who have been swooning at the high burn rate in their travel plans and property maintenance abroad, may wish to consider recent more positive trends and consider some risk mitigation opportunities now that the dollar is stabilizing somewhat.
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.
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.
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.
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.
Do you believe Canada’s tax system based, on self-assessment, has suffered under recent changes at CRA and by Finance Canada? If so, what is the one wish you have for tax reform?