May 2025 Poll
Does the Liberal promise expected soon to cut the lowest personal income tax rate by 1% to 14%, go far enough to help Canadians impacted by high costs?RDSP Planning for the Disabled Smart Year End Move
Registered Disability Savings Plans (RDSPs) have been around since 2008 and they remain a lucrative savings plan for the disabled.
Evelyn Jacks: Year End Planning – Plan to Give to Charity
Winston Churchill once said: we make a living by what we get, but we make a life by what we give. It does feel good to do good. . .and doing good often attracts rewards as well.
Charitable Donations – No Receipts, No Credit Claims
In a recent appeal to the Tax Court of Canada (TCC), Emily Sowah argued that the Minister of National Revenue (the Minister) was incorrect in disallowing her charitable tax credit for purported cumulative gifts of $10,252 in the 2006 taxation year.
What is the consequence of debt forgiveness?
If you have a commercial debt obligation—a debt on which interest would have been deductible in computing income from a business or property—and that loan is forgiven, you’ll have a tax consequence.
Clarifying Rules on Qualifying Amalgamations
The Supreme Court of Canada (SCC) recently released its decision in Envision Credit Union v. Canada, a case concerning an amalgamation of two credit unions in British Columbia.
Reporting Earned Interest
Interest income is common to most investors. It can often accrue on a compounding basis (that is, interest is reinvested rather than paid out to the investor during the term of the contract).
