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You may not be familiar with the term house flipping, but if you have purchased a second residence and sell it within a specific time frame then it may become something that you are soon going to experience because of its potential tax implications. Most probably you realize that if you do sell this second…
Perhaps you made a move this year so you could find new employment. Or maybe your employer had you locate. Then again it could be that you are a student and have changed your residence to be closer to your educational institution. Any of the reasons for moving could have an affect on your…
There are so many things that we take for granted when it comes to our personal expenses that we tend to not give them much thought. For example, it is well known that it costs money to go out and make a living everyday. The tax department realizes this and has made some attempts…
There are many young entrepreneurs in Toronto that really want to get their own business off the ground but simply don’t have the start up funds to get it going. When they start to look for financial help for small businesses they most often find that there is nothing available for the as yet non-existent…
Canada is a great country to live in we have 10 Provinces and 3 Territories. However as a Canadian resident there are many taxes which you will pay and the rate and amounts will depend on which Province in Canada you live in as well as how good your tax planning is to ensure that…
There are times when some individuals become so debt ridden which includes a large debt to the CRA that they feel they have no other option but to claim bankruptcy. This is a serious decision and not one that should be made out of panic, or without thoroughly researching other possible solutions. One thing…
When a person passes away they often leave a will as well as someone in charge of their affairs. Part of these responsibilities may be the filing of their last tax return. If they had been current with their taxes then the tax return required will be applicable to the year that they passed away…
Finally you got that tax refund that you were waiting for, and yes you did submit your taxes correctly and got the refund you expected. Or an even nicer surprise is that you got back more than you expected. A word of caution here though, if you got back more than you expected perhaps…
