AUTHREP Changed July 15
Since July 15, the "Authorize a Representative" service in EFILE, accessed through tax software, will no longer be available. Tax professionals must now use the Represent a Client (RAC) portal to request online access to a client’s account.Back to School: Should Costs of Developing Promising Young Athletes Be Deductible?
It’s back to school time and as every parent knows, arts and athletics are expensive activities for children to partake in at this time of the year.
Special Tax on Employee Profit Sharing Plans (EPSPs)
A special tax at the top marginal rate will be charge to a “specified employee” for contributions to an employee profit sharing plan if the contribution exceeds 20% of the employee’s salary received in the year.
What Are the Rules to Reporting Rental Income?
With a new school year around the corner, you may be considering taking in a university student as a renter. If so, you will want to get your documentation ready for a change in your tax filing.
Dividends Need Focus in Year End Planning
Over the past several years, corporate income tax rates have decreased which has affected reporting by individual investors on their personal returns for dividend income.
Does “Topping Income Up” to Next Tax Bracket Make Sense?
Sarah is 67 and earning all her income in the lowest tax bracket. She has not yet started withdrawing money from her significant RRSP, which holds $800,000. When should she start? How much should she take into income?
Reduce Clawbacks with an RRSP Contribution
When a taxpayer's income falls into a clawback zone, a portion of a social benefit like OAS or EI must be repaid.
