From Canadian Tax Resource
September 10, 2009 at 10:00 am
Mistakes are a fact of life. The CFO of a company I worked for once said in an update to the Finance Division: “Our payroll errors were only 0.5% last year…Not bad. ... (
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From Canadian Tax Resource
September 9, 2009 at 8:47 am
Last Wednesday I pointed out that the Home Renovation Tax Credit had not been introduced into parliament. If the government were defeated in a vote of non-confidence the tax ... (
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From Canadian Tax Resource
September 8, 2009 at 10:34 am
If you have taken out student loans to fund your post-secondary education, you may be entitled to federal and provincial tax credits that can reduce the overall cost of your ... (
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From Canadian Tax Resource
September 4, 2009 at 12:00 pm
With the move to a new server complete, I can now freely post my weekly summary of interesting articles from other personal finance bloggers.
The Financial Blogger wrote about ... (
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From Canadian Tax Resource
September 3, 2009 at 11:13 am
A recent visitor to Canadian Tax Resource asked the following question about my article on Rental Property and Tax Planning:
I am renting out my basement (50% of the home). Can ... (
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From Canadian Tax Resource
September 2, 2009 at 4:00 am
Liberal leader Michael Ignatieff announced today that the Liberal will no longer prop up the Conservative minority government. If the Conservatives fail to table the Home Renovation ... (
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From Canadian Tax Resource
September 1, 2009 at 6:00 am
Here is an interesting case I recently came across involving beneficiary designations and the conversion of an RRSP to a RRIF.
The annuitant of the RRSP was mentally incompetent ... (
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From Canadian Tax Resource
August 31, 2009 at 9:03 am
Over the last few weeks, I have been in the process of seeking a new web server that can handle the growth of Canadian Tax Resource. This website had previously been hosted through ... (
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From Canadian Tax Resource
August 28, 2009 at 3:58 pm
We are moving Canadian Tax Resource to a new host this weekend. You may noice outages or may have some trouble reaching the site. Please be assured that we should be live an ... (
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From Canadian Tax Resource
August 28, 2009 at 3:58 pm
We are moving Canadian Tax Resource to a new host this weekend. You may noice outages or may have some trouble reaching the site. Please be assured that we should be live an ... (
more)
From Canadian Tax Resource
August 25, 2009 at 6:00 am
Credit cards and loans have carved a foothold in North America and many find themselves swimming in debt.
CGA Canada released a report in late 2008 indicating that Canadian households ... (
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From Canadian Tax Resource
August 21, 2009 at 6:00 am
A reader of Canadian Tax Resource asked me recently about why their overtime was taxed at nearly 40% when their regular pay was taxed at about 24%.
My regular bi-weekly pay is ... (
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From Canadian Tax Resource
August 20, 2009 at 6:00 am
When we talk investing, not all types of investments are equal: At least as far as the Income Tax Act is concerned. If you have investments outside of a tax-deferred account ... (
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From Canadian Tax Resource
August 19, 2009 at 6:00 am
We have discovered a water leak in the foundation of our house and there is some damage to the interior. Luckily our insurance will cover some of the interior damage but not ... (
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From Canadian Tax Resource
August 18, 2009 at 6:00 am
We had to have a portion of the sewer line under our house replaced and decided we would freshen up our basement by removing brick wall at one end of the room and replacing the ... (
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From Canadian Tax Resource
August 17, 2009 at 6:00 am
With the introduction of pension income splitting in 2007 many have argued that the spousal RRSP is dead. However, there are still benefits to having a spousal RRSP for income ... (
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From Canadian Tax Resource
August 14, 2009 at 6:00 am
During the real estate boom of the last few decades many find themselves with inadequate retirement savings but a beautiful home that is paid off (or substantially). But how ... (
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From Canadian Tax Resource
August 12, 2009 at 10:44 am
If you have a home equity line of credit (HELOC) joint with your spouse and you have used to invest be aware that deducting the interest on your investment loan can be a mine ... (
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From Canadian Tax Resource
August 11, 2009 at 5:00 am
I was speaking conceptually with a colleague about the Old Age Security clawback (OAS Clawback). We had come across a case where an elderly man earning $45,000 per year before ... (
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From Canadian Tax Resource
August 10, 2009 at 6:00 am
When the annuitant of a RRIF or RRSP dies the fair market value of the RRIF or RRSP right before death is included on their final tax return unless there is a spouse or dependent ... (
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From Canadian Tax Resource
August 7, 2009 at 3:10 pm
The other day I was having a conversation with a young couple and the topic of conversation turned to financial planning and debt load. The explained that they felt like they ... (
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From Canadian Tax Resource
August 5, 2009 at 9:26 am
I came across a case the other day that is a stark reminder of the importance of having a will and a well though out estate plan.
A husband of three children (ages 10, 12, and ... (
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From Canadian Tax Resource
July 29, 2009 at 6:00 am
Vacation properties can save your family’s vacation costs and may even be an excellent investment if you intend to rent it our when you’re not using it. As the market ... (
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From Canadian Tax Resource
July 27, 2009 at 6:00 am
As an individuals income increases so does the rate of income tax charged. At the federal level, you will pay 15% on the first $40,726 of income, 22% on the next $40,726, 26% ... (
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From Canadian Tax Resource
July 22, 2009 at 6:00 am
The 2006 federal budget introduced a new non-refundable public transit tax credit available to Canadians for the cost of public transportation passes. If you use public transportation ... (
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