Insights
Unlock Your Path to Homeownership: The Power of Tax-Free First Home Savings Accounts!
Are you dreaming of owning your first home but worried about saving up for it? Enter the First Home Savings Account (FHSA), a brilliant solution tailored for first-time homebuyers in ...
Insights
Maximize your real estate investments in 2018: Our top 10 financial management tips
While 2017 saw a bit of a slump for residential properties in Canada, certain markets remained strong (Vancouver, for instance), while real estate investment properties across the country were largely ...
Canadians’ investment in U.S. real estate after tax reform
Amid sizzling real estate markets in places like Toronto and Vancouver that have driven prices North of the border sky high, Canadians have been looking South for opportunities to profit ...
Recent U.S. tax reform impacts Canadians doing business in the U.S.
The recent U.S. tax reform has provided Canadian-based multinational businesses some powerful incentives to shift production to the U.S. – lowered tax rates, particularly for U.S. exporters, and accelerated write ...
2018 Federal Budget Commentary
Income taxes and capital gains rates unchanged in 2018 Federal Budget Finance Minister Bill Morneau released his 2018 federal budget (the “Budget”) on February 27, 2018 (the “Budget Date”). The ...
Take advantage of CRA’s Current Voluntary Disclosure Program before the less taxpayer friendly “New VDP” kicks in March 1
Canadian taxpayers are often afraid of facing the Canada Revenue Agency (CRA). They might have knowingly submitted incorrect information on their tax returns, mistakenly left out income, or because of ...
Act now before April 1: CRA prescribed interest rate hike not an April fool’s joke
The Canada Revenue Agency’s (“CRA’s”) prescribed interest rate has remained largely unchanged at 1% per annum since April, 2009. This low interest rate environment will likely come to an end ...
Recent U.S. tax reform impacts U.S. citizens living in Canada
The U.S. is in the process of enacting the broadest change to its tax system since 1986. Rather than analyzing each change, the following 2-part series will focus on the ...
Do you rent out your home or claim home office expenses? Know these facts and save on tax!
Do you rent out your home or claim home office expenses as a self-employed individual? One of the most well-known provisions in the Canadian Income Tax Act (“ITA”) allows taxpayers ...
Real estate’s top 4 Canadian hidden taxes
While most business owners are accustomed to paying corporate, personal, and sales taxes, some are not as familiar with several lesser known taxes that can significantly impact the bottom line ...