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Severance Planning: Helping Clients Make the Most of their Packages

by Joseph Truscott | Jan 6, 2020 | Taxation Articles by Joe Truscott

If there is one sector of the economy that is doing well these days, it is the outplacement industry.  Those who provide career counselling to employees given the pink slip or an early retirement offer have seldom been busier.  And, of course, these...

Sale of Property by Non-Residents: New Rules for Withholding Tax

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...

Income Splitting Opportunities: Prescribed Rate Lowered to 1%

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....

Personal Tax Returns: Late Filing Issues

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...

Guaranteed Access to Registered Educational Savings Plans

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...
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