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. ...
by Joseph Truscott | Jan 6, 2020 | Taxation Articles by Joe Truscott
What do you do if the Canada Revenue Agency issues you an income tax or GST Notice of Assessment (or Reassessment), and you believe the Agency is wrong and that you should not be paying so much? The Canada Revenue Agency’s Role As you may know, the Canada Revenue...
by Joseph Truscott | Jan 6, 2020 | Taxation Articles by Joe Truscott
The Voluntary Disclosures Program The “Canada Revenue Agency Guidelines for the cancellation and waiver of interest and penalties” outline that penalties and interest may be waived or cancelled in whole or in part in order to facilitate collection where: They result...
by Joseph Truscott | Jan 6, 2020 | Taxation Articles by Joe Truscott
In the Ontario provincial Budget, the government announced its intention to harmonize its retail sales (RST) with the federal GST effective July 1, 2010. The new harmonized sales tax rate would include the 5% GST and 8% RST for a combined Ontario HST rate of...
by Joseph Truscott | Jan 6, 2020 | Taxation Articles by Joe Truscott
Canadians must file a tax return and pay taxes in the United States even if they are residents of Canada if they meet certain criteria that is determined by American tax law and by the Canada-U.S. Income Tax Convention, a treaty that generally deals with citizens of...
Recent Comments