by Joseph Truscott | Jan 6, 2020 | Taxation Articles by Joe Truscott
Introduction Commencing from the beginning of 2009 new Canadian tax rules came into effect in respect of the sale of property by non-residents. Whenever a non-resident is involved in a transaction, withholding tax requirements can arise. The new...
by Joseph Truscott | Jan 6, 2020 | Taxation Articles by Joe Truscott
One positive to take out of the current economic downturn will be the lowering of the prescribed rate to 1% between April 1 and June 30, 2009. This presents opportunities for higher income earners to income split with their spouse, children, or grandchildren....
by Joseph Truscott | Jan 6, 2020 | Taxation Articles by Joe Truscott
Just when we think the personal tax season is behind us, we start to hear from those clients who habitually file their returns late. Often, their rationale is, “I always get a refund, so there is no sense being in a hurry.” Many of us remind these...
by Joseph Truscott | Jan 6, 2020 | Taxation Articles by Joe Truscott
Statistics Canada estimates that by 2019, the total cost of a four-year university education in most provinces will be $74,000, including tuition, rent, food, books and additional fees. So it is no surprise that parents are looking for efficient ways to finance their...
by Joseph Truscott | Jan 6, 2020 | Taxation Articles by Joe Truscott
Every Canadian resident individual is eligible for the capital gains exemption under the Income Tax Act. The exemption allows you to realize up to $750,000 of capital gains during your lifetime, tax-free, from dispositions of certain types of property. ...
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