A donation given to a registered charity in Canada can be claimed as a charitable donation on your tax return. The Donation Tax Credit available after the first $200 of annual donations is effectively the top marginal tax rate in a given Province or Territory.
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...
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...
