Tax Tips

The Canada Child Benefit and Separation

By |2023-10-15T16:22:53-07:00October 15th, 2023|Divorce Self-Help, Tax Tips|

Note: This post was written using AI Taxpayers can get into trouble with the Canada Child Benefit (CCB) program if they inadvertently make errors or fail to provide accurate and up-to-date information to the Canada Revenue Agency (CRA). Here are some common ways taxpayers might encounter issues with the CCB: Failure to Update Information: If [...]

Fear of Taxes

By |2016-11-25T02:24:50-08:00April 6th, 2016|Financial Self-Help, Tax Tips|

It's that time of year again. Busy season for accountants! The Canadian Personal Income Tax filing deadline of April 30, 2016 is approaching quickly! I was contemplating why it is still so busy for tax preparers as preparing your own taxes is getting easier every year. The tax software is getting cheaper and cheaper (and [...]

New Federal and BC Tax Credits for 2015

By |2015-09-23T15:59:54-07:00September 23rd, 2015|Tax Tips|

Federal Children's Fitness Amount Tax Credit This is the exciting one. This credit has become a refundable credit for the 2015 and subsequent tax years. In prior years, it was non-refundable, that is, it could reduce your taxes owing, but you would not get anything back if you had zero taxes owing. By being refundable, [...]

Family Tax Cut

By |2016-11-25T02:24:53-08:00February 25th, 2015|Tax Tips|

I just finished my first tax return for a family that is eligible for the Family Tax Cut that was announced in October 2014 and affects the 2014 tax year. What is the Family Tax Cut? The Cut only applies in certain situations: You and your eligible spouse or common-law partner lived in Canada at December [...]

Tax Numbers for 2015

By |2015-02-25T16:34:51-08:00February 25th, 2015|Tax Tips|

RRSP: The maximum RRSP contribution for 2015 is $24,930. Remember to look at your 2014 Notice of Assessment to see what your actual contribution room is. TFSA: he TFSA limit for 2015 is $5,500, for a total of $36,500 in room available for someone who has never contributed and has been eligible for the TFSA [...]

Go to Top