Feb 162017
 
Pay less tax with pension income splitting

by Jonathan Chevreau February 9th, 2017 It’s hard to believe but the great boon of pension income splitting has now been available to Canadian retirees for a full decade. The Harper Tories introduced it in 2007, partly as a salve for the controversial Halloween 2006 crackdown on income trusts. I don’t hear much these days Read More…

Feb 162017
 
5 tax changes that will impact your 2016 return

NO MORE FAMILY TAX CUT The federal government has done away with the Family Tax Cut, also known as the Income Splitting Tax Credit, a reduction measure that allowed individuals to transfer up to $50,000 of income to a lower earning spouse, if they have a child under 18 years old, to a maximum benefit Read More…

Jan 252017
 

OTTAWA, ONTARIO–(Marketwired – Jan 19, 2017) – If you are a newcomer to Canada for all or part of a tax year (January 1 to December 31), you need to do your taxes (file an income tax and benefit return) if you receive or want to receive certain benefits and credits, want to claim a Read More…

Jan 182017
 
Paying down debt, saving a top priority for many in new year

After the holidays, many can be burdened down with credit card debt and will make it a goal to pay this and other short-term debt down in the new year. According to a CIBC poll conducted in late December, paying down debt was once again the top priority in the new year for 28 per Read More…

Jan 182017
 
What does Trump mean for Canadian taxes?

In a few short days the United States will inaugurate its 45th president, Donald J. Trump. During the 2016 election campaign Trump talked a lot about lowering taxes. With tax-cutting Republicans also firmly in charge of Congress, it seems very likely our neighbours to the south may soon be seeing lower taxes. What does that mean Read More…

Jan 042017
 
Numbers you need to get jump-start for 2016 tax filing

The first of January 2017 brings with it not only a new calendar year, but also changes to various income tax and benefit amounts, most of which are indexed to inflation. Earlier this month, the Canada Revenue Agency announced that the inflation rate that will be used to index the 2017 brackets and amounts is Read More…

Feb 102016
 

Eatate Planning Good article by: SHIRLEY WON Special to The Globe and Mail Published Thursday, Feb. 04, 2016 5:00AM EST Many folks obsess about saving and investing for their retirement but turn a blind eye to what happens when they die. Thoughts about the end of life are unsettling, but owners of registered retirement savings Read More…

Feb 052015
 

Courtsey of Article by: Elizabeth Bromstein Feb 2, 2015 At the beginning of this year, US News & World Report released its list of the 100 Best Jobs for 2015. These best jobs are ranked based on several criteria: ● 10-Year Growth Volume (10 percent) ● 10-Year Growth Percentage (10 percent) ● Median Salary (30 Read More…

Dec 162013
 
 Year-End Tax Tips for Canadian Employers

Every business owner and tax professional knows that the changing of the year also marks important deadlines and rules regarding taxes and employment reporting. For employees, it means understanding how tax law changes, and there have been many in Canada this year, as well as the U.S. “The Canadian Payroll Association (CPA) is dedicated to Read More…