Understanding the difference between a tax deductions and a tax credits will help you to apply strategies and use financial tools to help reduce the taxes you pay on your retirement income. Tax Deductions...
Information about the deceased and the executor is required in the Estate Information Return along with a list and description of each estate asset (some estate assets such as household contents can be grouped...
What is probate? Probate is a process that authorizes an executor to distribute assets of a deceased’s estate. Where required, provincial governments grant this authority by issuing a probate certificate known in Ontario as...
I know having a family can be expensive, but there are many benefits, credits, and deductions that can help your family with costs during the year. These benefits, credits and deductions could even lower...
Tax season can be a frustrating time for Canadian small business owners, especially in a struggling economy. Although you cannot avoid income taxes completely, you may be able to reduce or defer your payments...
Even though Canada doesn’t have any “death taxes,” estate taxes on your Registered Retirement Savings Plans (RRSPs) and Registered Retirement Income Funds (RRIFs), can be significant. Having a plan can keep those taxes at...
The Property Transfer Tax is a tax payable to the Provincial Government by the purchasers of real estate. The tax applies to all types of real estate, whether residential, commercial or industrial. British Columbia •...
It is tax season again and, for Canadian small business owners, that means it is time to review information about capital property transactions to determine capital gains and losses. Determining capital gains or losses...
Your filing income taxes deadline is April 30th, and that means that it is once again time for Canadians to start collecting tax and earnings forms and figuring out their income taxes. For many...
Income taxes form a major portion of the annual revenues of the federal and provincial governments of Canada. Tax collection agreements allow different governments to levy taxes through a single administration and collection...
