Posts Categorized: Taxes

Tax Tricks and Traps

Tax

Below is a list of tax planning considerations. Please see us for further details or to discuss whether these may apply to your tax situation. Carefully Review your Expenses Certain expenditures made by individuals on or before December 31, 2017 will be eligible for 2017 tax deductions or credits. These expenditures include moving expenses, child… Read more »

Tax Updates 2017

Here’s a summary of tax changes for the year. Please contact us if you have any questions or to book an appointment to discuss your taxes. Tax Rates There are no changes to tax rates or brackets for 2017. Income tax rates for individuals can be found here. Public Transit Tax Credit This credit has been eliminated… Read more »

Tax Changes for Small Business

On December 13, 2017, the Department of Finance released a number of updates relating to the proposed changes to private corporation taxation, in particular, the income sprinkling proposals, which were originally announced on July 18, 2017. Below is an update of the changes to the proposals. Individuals that receive certain types of income derived from… Read more »

2016 Tax Update

Tax Update 2016: As tax season approaches you are likely reviewing the information you collected last year and preparing to collect what is needed for this year. You may also be considering whether your return will be substantially different than it was in the prior year, or if you can expect a similar amount owed or refunded once… Read more »

Tax Tips and Tricks

Did you know? The CRA has a program called MyAccount, which allows you to track your refund, view your return, and check on important balances, the expected timing and amounts of benefit payments, and your TFSA and RRSP contribution limits. The CRA has now also released MyCRA and MyBenefits CRA, which are mobile phone applications allowing… Read more »