by Joseph Truscott | Jan 6, 2020 | Taxation Articles by Joe Truscott
Introduction The Ontario government announced in its March 26, 2009 budget that it plans to harmonize the 8% Ontario retail sales tax (RST) with the 5% federal goods and services tax (GST) to form a 13% harmonized sales tax (HST), effective July 1, 2010. With...
by Joseph Truscott | Jan 6, 2020 | Taxation Articles by Joe Truscott
Under the Income Tax Act there are certain rules known as the “Taxpayer Relief Provisions” (formerly called “Fairness Provisions”), which provide the Canada Revenue Agency with the discretion to waive certain requirements of the Act. In particular, these...
by Joseph Truscott | Jan 6, 2020 | Uncategorized
The following comments are made with respect to Income Tax Audits conducted by Canada Revenue Agency, herein referred to as “CRA.” These procedures apply to (i) income tax audits (ii) GST audits and could apply, in whole or part to audits conducted for (iii)...
by Joseph Truscott | Jan 6, 2020 | Taxation Articles by Joe Truscott
A critical question facing all homeowners is whether to pay down the mortgage or contribute to the Registered Retirement Savings Plan (RRSP). There is no definitive answer. Your decision depends primarily on your goals: Retire early and comfortably or pay off...
by Joseph Truscott | Jan 6, 2020 | Taxation Articles by Joe Truscott
Introduction Taxpayers can make deductions under their registered retirement savings plans (RRSP) deduction limit for 2008 with respect to contributions they have made or are going to make in the first 60 days of 2009. The Income Tax Act (the Act) is quite...
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