Articles

Tax planning to maximize your tax savings should be an ongoing process throughout the year, but there are definitely measures that can be taken in the last couple of months before year-end to ensure you receive the maximum tax payout you’re entitled. A complete tax assessment performed before your year-end can help you make some … Read more

September is almost here and kids are getting ready to go back to school and hit the books. Even if you don’t have children, the first of September always seems to signify a change: the end of Summer. The first day of Fall is only a few weeks away and the lazy days of Summer … Read more

Running a small business can be time consuming; adding all the tax filings, paperwork and payments required by the government can add to your already full schedule. And keeping up with all the requirements can be even more time consuming. To ensure you have everything on your calendar, here is a list of tax dates … Read more

Half of Canadian marriages end in divorce seeming like it’s become as inevitable for many as death and taxes. Of course no one enters a relationship with the plan to later part ways, but it does happen and there are tax consequences to consider if it does. Things are specifically more complicated in situations where … Read more

Most tax changes we have seen recently tend to be tax increases. We’re always on the lookout for a tax saving opportunity. Since the Trudeau government has come into power many tax reforms the former Harper government introduced like the family tax cut, increases to the TFSA, and the child tax credits have systematically rolled … Read more

So you’ve just found out that you’re going to be audited by the CRA: now what? Your first step, of course, should be to investigate your options for audit representation, as there’s nothing as effective as professional help when it comes to helping out with the federal government’s tax regulations. Still, even if you’re able … Read more

As you likely already know, there are a lot of different steps and procedures that go into a CRA audit. There are many things to be aware of should you receive a letter from CRA announcing an audit of your business, but the most important thing you should do is request the services of a … Read more

You may have owed taxes in the past and not filed or not reported all of your income. This may put you in a state of unease worrying about how you can make things right. As your business or situation improves you may be in a position where you’re owed tax credits or refunds but … Read more

Most farm owners and small business owners have assets like goodwill tied up in their businesses. Some might also have licenses, customer lists, franchises, farm quotas or distribution rights. On January 1, 2017, the federal government introduced draft legislation that will directly affect these assets, a new class of assets called the Class 14.1 pool. … Read more

Many taxpayers view their annual filing as a stressful exercise and feel great relief when the job is done.
 Some people choose to avoid the task. 
 The Canada Revenue Agency says, 10 to 15% of the country’s total population do not file a tax return each year. That amounts to a substantial number of … Read more