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Tax Refunds

Maximizing Your Tax Refunds: Tips and Tricks

Most tax planning is straightforward if you own a home and contribute to RRSPs, TFSAs, and RESPs, as you’re already taking advantage of excellent tax sheltering. However, the top priority for everyone is how to boost their tax refunds in Canada. Debt Reduction for Tax Refunds Strategies: With the increase in interest rates, it’s a […]


Disposition of Asset in Canada

What is Asset Disposition? Asset disposition is the process of properly disposing or recycling equipment that is no longer needed or outdated. What is a Capital Asset? Capital assets typically include securities such as stocks and bonds for properties like cottages. They also include depreciable property, which is often considered as property used to generate […]


GST/HST Credit and Payment

Unless you exclusively buy from a select range of exempt items, most of your purchases will be subject to Canada’s goods and services tax (GST). To help alleviate the financial burden of sales tax, the federal government offers the GST/HST credit to eligible Canadians and their families. This includes various goods and services, real estate […]

Gift Tax

CRA’s Gift Tax Rules for Employers

In most cases, gifts or awards that employees receive from their employer – whether it’s in the form of cash, Gift Tax, near-cash or non-cash – are considered taxable benefits from employment. However, there are instances where the Canada Revenue Agency (CRA) has an administrative policy that exempts non-cash gifts and awards from taxation. For […]

Home Office Expenses

Can I Claim Home Office Expenses on 2022 Tax Return?

An increasing number of Canadians are choosing self-employment and running their businesses from their homes. For both sole proprietors and corporations, the ability to deduct home office expenses is a crucial issue, often inquired about by entrepreneurs. You can deduct the cost of your home workspace if you meet either of the following conditions: Whether […]

Tax Advantages of Shareholder Loan

Tax Advantages of Shareholder Loans

If you’re a shareholder of an incorporated business, you might want to explore the option of issuing shareholder loans as a means of tax planning. A shareholder loan is an agreement to borrow money from your corporation for a particular purpose. Essentially, it’s a form of compensation that’s akin to receiving a salary or dividends, […]

What is the GST/HST Credit?

The Goods and Services Tax/Harmonized Sales Tax (GST/HST) credit is intended to help low to modest income Canadians offset the tax they pay on consumer goods and services. The Canada Revenue Agency pays out the GST/HST credit quarterly to qualifying individuals and families. Apply for the GST/HST credit by simply filing your tax return In most cases, […]

The 9 Biggest Tax Changes Canadians Need to Know in 2023

Tax filing season is right around the corner, and many new changes have been put into effect for the 2022 tax year that may have an impact on your situation, including new credits and deductions that you may be eligible for.  To make things simple, we’ve provided a breakdown of how these changes will affect […]

Will the US Federal Reserve’s rate hike impact Canadian mortgages?

The US Federal Reserve – the American central bank counterpart to the Bank of Canada – hiked their federal funds rate by 0.25% this week, bringing their benchmark cost of borrowing to a range of 4.5% – 4.75%, and signaling there will be a couple more increases to come before they can ease up on the monetary […]

The Best Home Insurance Companies in Canada

The best home insurance companies in Canada for customer service aren’t the most expensive providers, nor are they the most popular. Ratehub.ca compared the 2019 Canada Home Insurance Satisfaction Study, conducted by J.D. Power, with the premiums they would charge a specific homeowner. While the price of home insurance is determined by an array of factors including […]