Tax Tips & Traps – Fall 2014

ON September 9, 2014

Download the PDF here IN THIS EDITION TAX TICKLERS Quick points to consider INTERNET BUSINESS ACTIVITIES Update to the Effective Date DONATING BY WILL Planning Ahead T1135 FOREIGN PROPERTY Some Relief PRICE ADJUSTMENT CLAUSE Non-Arm’s Length Purchase or Sale GAMBLING WINNINGS Document them! U.S. AMNESTY PROGRAMS Now even more Accessible! DIRECTOR LIABILITY Understand your Exposure […]

Read more arrow right

Tax Tips & Traps – Spring 2014

ON May 28, 2014

Download the PDF here IN THIS EDITION TAX TICKLERS Quick points to consider WEB TIPS INTERNET BUSINESS ACTIVITIES Must be reported to the CRA CRA EXAMINES NON-PROFIT ORGANIZATIONS Is your Entity at Risk? REPORTING GST/HST Simple Option for Small Businesses SALARY To Owners and Relatives CROWDFUNDING May Have Tax Costs SCHOLARSHIPS AND TRAINING May not […]

Read more arrow right

Tax tips & tricks – Fall edition

ON August 21, 2013

Download the PDF here In this edition: AUTO ALLOWANCES Fixed Payments are Costly DISASTER RELIEF What is the Tax Impact? EMPLOYMENT INSURANCE (EI) Which Working Hours Count? BUSINESS EXPENSES Prove it! 3RD PARTY DISCLOSURE OF UNREPORTED INCOME OLD TAX RETURNS Reopened! RENTAL PROPERTIES Receipt Retention Issue SNOWBIRDS Watch Out! WEB TIPS, GST/HST Potpourri […]

Read more arrow right

Tax Tips and Tricks Newsletter

ON July 9, 2013

Download the PDF here. MEDICAL EXPENSES – TRAVEL In a November 8, 2012 Tax Court of Canada case, CRA disallowed as a medical expense $14,883 of travel costs related to 101 round trips that Mr. Jordan made from Weyburn to Regina to assist his wife in recovering from an aneurysm. Taxpayer wins The Court allowed […]

Read more arrow right

Tax Tips & Traps – Winter 2013

ON January 24, 2013

Download a PDF version here   PERSONAL TAX MEDICAL EXPENSES You may claim medical expenses for yourself, your spouse or common-law partner, and your or your spouse’s or common-law partner’s children who are not age 18 before the end of the taxation year.  Medical expenses may also be claimed for certain other dependents. MEDICAL EXPENSES […]

Read more arrow right

Winter Edition – Tax Tips and Traps

ON November 14, 2012

Download a PDF version Year End Tax Planning Some 2012 year-end tax planning tips include: Certain expenditures made by individuals by December 31, 2012 will be eligible for 2012 tax deductions or credits including: moving expenses, child care expenses, safety deposit box fees, charitable donations, political contributions, medical expenses, alimony, eligible employment expenses, union professional […]

Read more arrow right

2012 Fall edition of Tax Tips and Tricks

ON August 21, 2012

PERSONAL TAX CHILDREN’S ARTS TAX CREDIT (CATC) In a May 24, 2012 Technical Interpretation, CRA notes that an optional annual fee paid to a fund organized by the Music Parents Society as an optional school trip, would be an eligible CATC if the membership in the Organization is not part of a school’s curriculum, the […]

Read more arrow right

2012 Spring Edition – Tax Tips & Traps Newsletter

ON June 23, 2012

PERSONAL TAX DO YOU HAVE TO FILE A RETURN? You must file a tax return for 2011 if any of the following situations apply: you have to pay tax for 2011; CRA sent a request to file a return; you and your spouse or common-law partner elect to split pension income; you received Working Income […]

Read more arrow right

2012 Winter Edition – Tax Tips & Traps Newsletter

ON February 7, 2012

As we are now in early February, RRSP season is in full swing and tax season is right around the corner.  This 2012 Winter Edition of the Tap Tips & Traps includes details on: • The new Children’s Art Tax Credit for 2011 • A hiring credit for small business owners • Changes to the […]

Read more arrow right

2011 Q4 Newsletter – Tax Tips and Traps

ON January 11, 2012

2011 Year-end tax planning tips and considerations, changes to CPP, a charity tax scheme and more. Download it here [pdf]

Read more arrow right