Most, if not all of us, have received a call from someone claiming to be from CRA. They may threaten arrest or other such actions if a tax bill is … Read More
RRSP Designations A May 10, 2021 CBC article demonstrated the importance of reviewing RRSP beneficiary designations. The article discussed the unfortunate cascade of events where, in 2018, a 50-year-old individual … Read More
In a February 11, 2021 Tax Court of Canada case, the deductibility of rental expenses for a condo unit that underwent major repairs was considered. In 2010, major structural repairs … Read More
Every individual in Canada who is over 18 years of age, works outside of Quebec, and earns more than $3,500 in a year is required to contribute to the Canada … Read More
In October 2018, the Federal Government announced plans to ensure pricing on carbon pollution was being introduced across Canada. As a result, residents of provinces that had not adopted the … Read More
Over the past few years, the topic of “crypto” or “digital “currency has become prevalent – so much so that it has caught the attention of the CRA. The most … Read More
Whether you are single, married, living common-law, widowed or whatever your circumstances may be, making or reviewing your Will should be at the top of your To-Do List. A Will … Read More
A Registered Retirement Savings Plan (RRSP) was, prior to 2009, seen as the best way taxpayers could save for their retirement. However, once Tax-Free Savings Plans (TFSA) were introduced, individuals … Read More
On October 3, 2016, the CRA announced a requirement to report the sale of principal residence by a taxpayer. Previously, if the property was a taxpayer’s principal residence for every … Read More
The CRA has introduced a new service for E-Filers to be able to receive Notice of Assessments or Reassessments directly within 24 hours of filing an individual’s tax return. Taxpayers … Read More