This Month’s Poll
Should the Old Age Security clawback start at a lower net income than the current $93,454?Tips on Using Your Home as a Daycare
The Canada Revenue Agency (CRA) recently released a new booklet that explains how to take business deductions from the income of a daycare. It’s an important issue for those who work taking care of children from their personal home as opposed to those who work taking care of children in the home of the parents.
Actions Speak in Employee / Independent Contract Disputes
In the recently decided case of Mallon v. MNR, the Tax Court of Canada provided further insight into the determination of the status of relationships: employee or independent contractor under the Income Tax Act (the Act).
Evelyn Jacks: The Groundhog, the Cupid…and the Link to Wealth Planning
It’s February, and that means that the Groundhog and Cupid vie for our attention. They seem to personify the challenge Canadians have with their fiscal balancing act: the ongoing lure to demonstrate love through wallets, with the fiscal obligations to spend and plan for our futures responsibility.
Grad Spotlight - Margaret Hodgson, DFA-Tax Services Specialist
Earning her DFA-Tax Services Specialist designation in 2007, Margaret Hodgson has been an active alumna of Knowledge Bureau ever since, regularly attending our live Distinguished Advisor Workshops and making the annual trip to the Distinguished Advisor Conference.
Reporting Foreign Pensions
Self-reported pension sources can include amounts received from foreign pension sources. Depending on the terms of the tax treaty between Canada and the country in question, some or all of that income may be deductible.
Maximizing Your Child’s RESP and CESG
I have a 13 year old son for whom I just opened an RESP in 2013. How much would I have to annually contribute to the RESP in order to catch up and maximize on the savings grant that the government contributes before my son turns 18?
