Being out of country and enjoying the sunny weather while Canada is still battling what winter has to throw at her, and especially during tax season, certainly is a nice thought. In fact, it is easy to forget about the snow and the tax filings that will soon be due. However, even if you…
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…
It used to be that students never really had to give much thought to taxes until they were ready to join the working world once they completed school. Now with the economy the way it is, and many families not being able to afford the high cost of education, many students have to find part…
If you have organized yourself properly as a small business person then you are keeping your business finances and personal finances separate. You should be looking at your business as a separate entity even if you are not incorporated. Often when an individual is operating a small business and in many cases from their home…
As we are now in the tax season you really have to take a close look at your tax obligations and what is required of you. If you are involved in foreign investments then you need to be particularly diligent about reporting using the Form 1135, as the CRA will no doubt be closely…
Many tax payers have heard about paying taxes in instalments but often assume that this is just for the big Corporations who have a lot of tax to pay. You may be surprised to learn that technically if you net taxes owing in 2013 plus 2012 or 2011 is more than $3,000. you should be…
As the year draws to an end lots of people like to start the New Year with a fresh start. This often means trying to clean up loose financial ends. Perhaps you have an outstanding tax debt and you really don’t have the funds to clear up your account with the CRA, but you at…
You may not even be aware of what Canada tax payer relief is. This is where the tax department may be forgiving on penalties and interests that have gathered because of taxes owed and not paid. The Canadian government realizes that there are times where a tax payer can fall upon hard times that could…
Whenever there is a point of contention amongst the tax laws or some new proposed change that is in the works naturally it’s the government who is in the spotlight. Then once they have had their say the taxpayers will come back with their viewpoints. Usually by way of the business sector. So…
It is quite commonplace to focus the majority of our attention on the Federal government because we just assume that the Ontario provincial tax lawmakers will follow in their footsteps. For the most part this is true, but they do put their own plan of actions in place that focus on what they are facing…
