Archive

Category: Tax Planning

The fate of TFSAs upon death

In general, there are three potential outcomes when a TFSA accountholder dies, depending on the preparations made Tax-free Saving Accounts (TFSAs) were introduced just a…

TFSA Holders Ultimately Liable For Any Tax On Day Trading In An Account

Issuers are only “joint and severally liable” to a point Tax-free savings account (TFSA) holders will now be ultimately liable for any tax owing on…

Personal Investor: 4 Money-Saving Tax Tools For the Average Investor

Tax breaks aren’t easy to come by for the average investor. That’s why it’s important this tax season to take advantage of whatever is available….

Save More Tax As A Family With These Income-splitting Ideas

Last summer, a burglar broke into a home in Palo Alto, Calif., shortly after midnight after cutting a screen that covered an open window. The…

Canadian Tax Filing Deadline Dates

Canadian Tax Filing Deadline Dates For Tax Year 2018 Tax filing season is rapidly approaching in Canada and as we move with Turbo speed towards…

Tax Tips to Help you Stay Calm When You Receive Notice of a CRA Audit

Just the thought of being audited by the Canada Revenue Agency (CRA) can be stressful for a taxpayer especially right after receiving notification that an…

Foreign Income Tax Tips and Traps

Clients need to be aware of how the CRA’s treatment of income from foreign securities affects their investments Clients who invest in foreign securities, such…

Tax Season Is Here, and Do-It-Yourself Options are Multiplying

There’s software now that offers real-time expert advice — or will do the entire return for you I can still vividly recall the first time…

Liberal Tax Policy: A Question for Canadian Voters

by Trevor Parry Special to the Financial Indpendence Hub Prime Minister Justin Trudeau, in his dogged defense of what are the most fundamental tax proposals…

Paying Capital Gains Tax On a Jointly-owned Cottage

Do you pay when each person dies? Or when the cottage is sold? by Evelyn Jacks Q: If a cottage is purchased and held in joint…