Category Archives: Tax

2021 Financial Calendar

    We’ve put together a financial calendar for 2021. It contains all the dates you need to know to make the most of your government benefits and investment options. Whether you want to bookmark this or print it out and post it somewhere prominent, you’ll have everything you need to know in one place!

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    Highlights of the 2020 Federal Fall Economic Statement | Additional $20,000 CEBA loan available now

      Finance Minister Chrystia Freeland recently provided the government’s fall economic update. It included information on the government’s strategy for dealing with the COVID-19 pandemic and its plan to help shape the recovery. We’ve summarized the highlights for you:

      • Corporate Tax Changes, including extensions to subsidy programs.

      • Personal Tax Changes, including additional Canada Child Benefit Plan payments and a new “Work from home” tax credit.

      • Indirect Tax Changes, including the proposal to charge GST/HST on services provided via digital platforms, as well as the temporary removal of GST/HST on face masks and shields.

      For business owners, as of December 4th, the CEBA loan has been expanded by an additional $20,000.

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      Personal Tax Planning Tips – End of 2020 Tax Year

        To help our clients, we’ve put together a comprehensive article filled with great tips on how to get ready for 2020 tax season. Here’s a summary of our personal tax tips article:

        • Details about the different COVID-19 benefits programs and the tax ramifications of them

        • Information about family tax issues including the Canada Child Benefits and tips on how to split income.

        • Managing investments. Details about contributing to various savings plans such as a TFSA, RESP, or RDSP. Also tips on how and when to donate to charity and how to time the purchase or sale of investments.

        • Retirement planning. How to make the most of your RRSP, things to know if you’ve turned 71, and tips on RRIF conversion.

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        10 Essential Decisions for Business Owners

          Business owners are busy… they’re busy running a successful business, wearing lots of hats and making a ton of decisions. We’ve put together a list of 10 essential decisions for every business owner to consider.

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          Tax Loss Selling

            Over the last few weeks, the financial market has taken a downturn amidst fears over Coronavirus.

            Understandably, you are concerned with your portfolio, it’s important to stay level-headed to avoid making financial missteps. However, staying level-headed doesn’t necessarily mean you sit there and do nothing. In fact, one consideration you can look is taking an active tax management approach.

            Tax loss selling is a strategy to crystallize or realize any capital losses in your non-registered accounts so it can be used to offset any capital gains.

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            2019 Tax Tips for Employees

              Now that we are nearing year end, it’s a good time to review your finances. With the federal election over and no major tax personal tax changes for this year, 2019 is a good year to make sure you are effectively tax planning.

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