When it comes tax time so many people get frustrated about having to do their taxes, then they almost panic when they run into some complex problems and the deadline is drawing near, and their returns are not completed. Then there is the after the tax season where everyone breathes a sigh of relief…
When it comes tax time it is not a topic that most people like to think about. Yet, often you will see the pop up tax return offices flowing with individuals who just can’t wait to get their taxes done. Are these good Canadian citizens who feel it is their duty to pay their tax…
If you are required to make support payments it is important that you understand how these fit into your tax obligations. It is always difficult when going through a separation to determine how this may now have an effect on your taxes. First, there are two types of support payments. There is the type…
Being divorced, separated, married or living common law all has a direct effect on your tax obligations. There are so many rules and regulations and explanations that apply to each of these situations that the CRA has actually created a guide for assistance for those that receive or pay support payments under a court order.…
If you have ever attempted to do your own tax return then you found there are a multitude of lines that have to be filled out and half of them you are not sure if they are applicable to you. Then along with this, are perhaps several other forms that you have to calculate to…
Many times individuals that are no longer an employee start up a small at home business for themselves and don’t realize that technically they now have become self employed. This puts them in an entirely different tax position. You now have a whole gambit of potential business responsibilities that you are not familiar with.…
You are always hearing about tax credits which could make you feel a little better about having to pay taxes. The problem is you are only aware of maybe a few basic ones and you aren’t quite sure if there are any others that would be of benefit to you. The first thing you…
In several posts we have talked about the CRA’s measures for cracking down on tax evasion through Offshore investments. Back in the spring of 2013 the Harper Government announced that they were going to put several steps in place to crack down on tax evasion and aggressive tax avoidance. Now included in these steps is…
Small business compliance for Canadian businesses means meeting your business’s tax obligations by complying with the tax rules and regulations that the Canada tax department has implemented. While most business owners have no problems accepting their tax responsibilities they are often challenged with the complexity surrounding the tax laws. As a result they can end…
A Canadian tax payer has many different potential tax credits available to them, but in order to receive these they have to qualify for each one according to the regulations that govern them. Included in these are donations to charities which do not include the gift of money but other items of worth. For example,…
