Last updated: Jan. 22, 2025
Large gifts of money and property will get CRA’s attention. Follow these tips to limit the tax burden for giver and receiver. Gifts of property among family members are common and can be very welcome for the recipient and satisfying for the giver. Although Canada has no gift tax, in some … Read more
The Canadian Pension Plan (CPP) enhancement significantly increases pension contributions from employers, employees and self-employed individuals.
Last updated: Jan. 9, 2025
As we wind down another challenging year of dealing with historic inflation, the last thing you want to think about is taxes. However, with profit margins tighter than ever, this is exactly the right time to take steps to minimize your tax burden. For incorporated businesses, this starts with understanding your … Read more
The Canadian government’s 2024 Fall Economic Statement was released on December 16, 2024, and outlines various initiatives to strengthen the economy.
You’ve worked tirelessly on your farm. Now, it’s time to reap the rewards… and pay as little tax as possible.
Long hours, harsh conditions, and a constant battle against the clock. As a truck driver, you’ve got a lot on your plate. But what about your taxes?
Misunderstandings swirled as farmers tried to prepare for the impact of the new capital gains inclusion rates, which took effect in June 2024.
While most Canadians are never subject to Alternative Minimum Tax (AMT), business owners who generate high income may find themselves subject to this alternative tax regime.
Last updated: Nov. 29, 2024
The Canada Revenue Agency (CRA) has announced the 2025 Tax Free Savings Account (TFSA) contribution limit is $7,000. Want to learn more about this investment option? Read on to learn the ins and outs of TFSAs – from finding your limit to accurately tracking your contributions. What is a TFSA? … Read more