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There may be more potential benefits offered by the Canadian government than what you are aware of. Missing out on one or two may not seem like that big of a deal to you, but these benefits and potential tax credits can add up throughout the year and make a difference to your tax…
In the past we have talked about the importance of having the right tax preparer do you taxes. We also spoke about the CRA’s new action plan called the Registration of Tax Preparers Program (RTPP). Some thought that this was just going to be an empty gesture on the CRA’s part and not a program…
You may not realize it but the CRA makes your privacy a priority. It has very stringent rules as to who it will share information with concerning your tax matters. This is a good thing because nobody wants to have their financial information shared. Perhaps the exception to this rule is when there…
When it comes to filing taxes even those with the most simple filings find it to be dreadful. Although it would seem that with the modern technology of today concerning our computers and being able to use software instead of hard copies of the return that tax filing would be a breeze. After all, computers…
It is not uncommon for Canadian tax payers to get confused over what it means to have to pay their tax by instalments. Some that are only familiar with parts of the tax law assume that these types of payments are only applicable to back taxes owed, and arrangements have been made to catch up…
Most people like to keep their financial information to themselves, and even when having their taxes done by a professional they are reluctant to offer any information about their financial status. Not doing so could cost you money in potential tax savings. It could also get you into trouble regarding your tax obligations. If…
Many of us were taught by our parents that if we start a small savings account and just keep adding small amounts to it that we will be pleasantly surprised at how fast it grows. What you may not know is the same can be said about the amount of money that you will end…
Many people look forward to the day when they can collect their pensions that they have spent years contributing to. Some individuals have private as well as government pension plans that they are entitled to. From the government many retirees expect to receive both the Canada Pension Plan as well as the Old Age Pension.…
