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Lots of people take a look at real estate as an investment and in the past few years the area of interest has been in buying condos. For many the thought has been to buy these when the market is a buyer’s market and then sell or “flip” them when it becomes a seller’s market.…
Any Canadian that has done, is doing, or thinking about offshore investments and incomes, has no doubt been following the news in the recent months. Nobody wants to give a thought to their name showing up on some file that is listing those with offshore investments that may be questionable. The CRA has been moving…
As a general rule there are three topics of conversation that most people like to stay away from. These are death, taxes and religion. While religion can certainly be left up to the individual unfortunately death and taxes are two issues that will have an impact on others besides an individual. There comes a time…
Typically if you want to work in Canada or have access to government programs and benefits it is necessary to apply for a Social Insurance Number (SIN). The SIN program is governed by sections 138 to 141 of the Employment Insurance Act and Section 89 of the Employment Insurance Regulations. The SIN is a 9…
Most of as Canadian tax payers just follow the laws of the land and in many cases outside of knowing about our supreme leader being the Prime Minister we tend not to pay too much attention to the other authority figures, like the leader of the CRA, for example. As Canadian citizens though, responsible…
Now that the 2012 tax year is over and you have already received your refund or paid your balance owing, you may ask yourself when is a good time to contribute the RRSP account? Typically most people make their contributions in the first 60 days of the following year. So you might be waiting until…
Now that the kids are out of school it’s great to be able to spend time with them, but it often means additional expenses when it comes to keeping them entertained. It could also mean having to provide care for them if both parents are working. So do any of these added expenses qualify for…
Many Canadian tax payers become quite frustrated with the tax system because of the concept that the more money you make, the more tax you have to pay. For those individuals that are real “go getters”, and are working many hours in order to generate a large amount of income they sometimes feel like they…
