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2014 Indexing Adjustments

CRA announces 2014 index adjustment for personal income tax, benefit amounts, and the annual dollar limit for TFSAs http://www.cra-arc.gc.ca/nwsrm/fctshts/2013/m11/fs131113-eng.html?rss

US Tax Obligations

Are you a US Citizen in Canada? A Green-card holder? You have filing requirements in the US! You may qualify for a streamlined process to get caught up.

Business Deductions

I always get asked “what” is deductible for tax. The answer is not “what” is deductible, it is “why” did you incur the expense. If you incurred the expense for business, it is most likely deductible.

Apprenticeship Tax Credits

Does your company employ/sponsor ITA registered apprentices? There are some significant tax credits available. Make sure we have the detail.

BC Senior’s Home Reno Tax Credit

Are you over 65 and have paid for alterations to your residence to improve accessibility? You may be able to claim the BC Senior’s Home Reno Tax Credit. It is a refundable credit worth up to $1,000 on eligible expenditures. Check out the BC Ministry of Finance website for...

Summer Camps and Child Care Expense Deductions

Did you know summer camps could be deducted as a child care expense if you have employment income?

New OAS Deferral Rules

Effective July 1, 2013, you can choose to delay receiving your OAS pension for up to 5 years. You will receive an increased amount of 0.6% to your OAS pension for every month you delay receipt, up to a maximum of 36% (60 months) at age 70. More information is available  HERE. If...

Tax Tips and Traps!

Our latest Tax Tips and Tricks newsletter for Q2 2013 is available for DOWNLOAD

RESP Contributions – Don’t Miss Out on the Grant

Are you contributing to your kids’ RESP? Are you contributing enough to get the maximum grant? You should be! Check with us.

Top things families should know about taxes

Some good tax time reading from CRA: “Top things families should know about taxes” http://ow.ly/joKzR