Personal tax Archives

5 Tips on How to Save Income Tax in Canada

Are you a Canadian looking for strategic ways to save money on your income tax? Keep reading to find out five effective tips that you should be utilizing right now. Maximize RRSPs Make a contribution each year to your RRSP (Registered Retirement Savings Plan) to the maximum amount allowed (i.e. RRSP limit) for the year. … Continue reading

Taxation of Stock Options for Employees in Canada Watch Video

Did you receive stock options from your Canadian employer?

Taxation of stock options for Canadian employees clarified.

Français Did you receive stock options from your Canadian employer? If yes, then it’s highly recommended that you go over the points in this article. In this article, I explain how the “Taxation of Stock Options for Employees in Canada” directly affects you.

Important changes for income tax filing starting 2016.

TAXATION Be aware of the changes that affect your 2016 income tax filing and beyond. As you gather your 2016 tax data together for your CPA, take a few moments to read about the following changes and assess the impact they may have on you and your family’s filing for 2016 and after. Principal Residence … Continue reading

A Lesson in Record Keeping

TAXATION The Income Tax Act requires you to keep all documents supporting your business activity; in an audit, the CRA will demand them. Keep Everything According to the Income Tax Act, taxpayers must keep “records and books of account … together with every account and voucher necessary to verify the information contained therein” for a … Continue reading

Finalizing Your 2013 Income Taxes

TAXATION Keep complete records and make use of all your eligible deductions. Yes, it’s time to start thinking about income taxes again. The Holidays are over and the credit card statements are starting to come in so you’re probably thinking about money anyway. But instead of thinking just about paying off your credit cards, it … Continue reading

New Tax Rate for the Canada Pension Plan (2016)

The Federal Government is going to be taking more money from your paycheck and putting it towards the Canada Pension Plan. In doing this, their goal is to help support retired Canadians by giving them access to more retirement income.

New Tax Rate for the Canada Pension Plan (2016) Watch Video

The Federal Government is going to be taking more money from your paycheck

8 Ways to Reduce Taxes In Canada Watch Video

With the due date for Canadian taxes quickly approaching, have you ever wondered

8 Ways to Reduce Taxes In Canada

With the due date for Canadian taxes quickly approaching, have you ever wondered “how can I reduce my taxes?”. Read further to learn about how you can save the right way.

Registered Disability Savings Plan (RDSP)

TAXATION Registered Disability Savings Plans help persons with disabilities save for the future. Having a disability or caring for an individual with a disability can be emotionally and financially draining. The Canadian government, recognizing the need to assist in the future care of an individual with a disability, has created a vehicle for persons with … Continue reading

Payroll Taxes for Canadians Temporarily Working in the U.S. Watch Video

Are you a Canadian planning on temporarily working in the United States

Payroll taxes for Canadians temporarily working in the U.S.

Are you a Canadian planning on temporarily working in the United States and are worried about how your payroll will be taxed? Learn about a strategy that will help you prevent double taxation and save your hard earned money along the way.

How to Reduce Your Taxes on RRSP Withdrawals Watch Video

Do you have a significant amount of money in your RRSPs and are concerned

How to Reduce Your Taxes on RRSP Withdrawals

Do you have a significant amount of money in your RRSPs and are concerned about the high tax you will have to pay once you liquidate them? Read more to learn a useful strategy to liquidate your RRSPs today without having to pay tax and grow your savings tax efficiently.

Tag: Personal tax