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Tag: CRA
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November 2022
Do You Owe Money to the Canada Revenue Agency (CRA)?At some point we all face outstanding debt. Often it's in the form of a bank...
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Disability Tax Credit
Often, we or someone we care about may have been born with or develop an impairment. This impairment can be physical or mental, resulting in...
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Are There Inheritance & Estate Taxes in Canada?
Clients regularly ask, are there Inheritance & Estate taxes in Canada? The good news is there is no inheritance tax in Canada on money or...
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September 2022
The Canada Revenue Agency (CRA) announced that the prescribed interest rates are increasing from October 1, 2022 to December 31, 2022. What does this mean...
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Registered Education Savings Plan (RESP)
Are you starting a family & thinking about saving for your children’s future education? Maybe you’re a grandparent, aunt, uncle, or friend looking for a...
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RRSP Over-contribution
A Registered Retirement Savings Plan (RRSP) is a great way to save for retirement. It offers flexible investing with tax-free investment growth in the plan. Withdrawal(s)...
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Canada Training Tax Credit
Did you pay tuition at an eligible educational institution? Then you may be able to claim the Canada Training Tax Credit (CTC) on your tax...
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Voluntary Disclosures Program
Did you forget to claim some income on past tax returns? Or maybe you discovered a mistake on a past tax or GST/HST return? To...
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Student Loan Interest
You graduated & now face the task of repaying your student loans. While this can be distressing, were you aware you can claim your student...
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Sole Proprietorship or Incorporation?
You’re starting up a small business & it’s time to decide, do you choose a Sole Proprietorship or Incorporation? Though each option is a valid...
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Meals & Entertainment Tax Deduction
As a business owner or sole proprietor, you can claim food, beverage & entertainment expenses. The catch? These expenses have to be incurred for earning...
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Common Audit Triggers
The Canada Revenue Agency (CRA) typically sends out about 30,000 letters a year letting Canadians know they are being audited. While that is only 0.1%...
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Is it Really the Canada Revenue Agency Contacting You?
One of the most common problems we face in our connected world today is scammers. They are constantly invading our privacy by pretending to be...
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