“When should I claim the cost of renovations to my rental property?”
Whether to write off the cost of renovations annually, or upon the sale of the property, depends on how...
Taxes
What is an EPSP, and how does it affect employees at tax time?
Corporations can choose to share a portion of profits with their employees by setting up a trust, called an...
How to avoid tax-payment nightmares when RRIF withdrawals start
The solution to minimizing any tax shocks? Mimic the "taxed at source" treatment most employees experience. Here's how.
When your investment partners don’t play by the CRA’s rules
Marcus and some friends turned a profit on their investment property. Trouble is, two of them plan to keep...
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How are jointly held investment accounts taxed?
Joint ownership makes access to the investments easier by a surviving spouse, but requires diligent record-keeping while you’re both...
Should you add your grandkids as joint tenants on stocks?
Avoiding probate is one advantage.
Gifting real estate to your adult children
Consider the impact of potential capital gains tax, what might happen to the property if your child gets divorced...
“Should I loan investments or money to my spouse?”
The idea is to split income, following Canada Revenue Agency guidelines, so the family pays less tax overall.
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Do teenagers need to file a tax return if they work part-time?
Like many milestones, this one can be used as a “teachable moment” for kids and parents.