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How to report U.S. employment income in Canada

Canadian citizens who work in the U.S. have to meet Canadian and U.S. tax filing requirements. Here’s what to...

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What to know about withholding tax in retirement

Most retirees have taxes owing at the end of the year. Should you adjust the withholding tax on your...

Renovations

Multigenerational Home Renovation Tax Credit: What is it and do you qualify?

New for the 2023 tax year, you might be able to claim the Multigenerational Home Renovation Tax Credit for...

Careers

Side hustles and self-employment in Canada: Taxes, business expenses and more

If you recently started a side hustle or became a freelancer, you likely have questions about taxes, business expenses...

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When your child moves into your rental property: Capital gains and how to claim principal residence exemption

When an adult child moves into their parents’ rental property, the family should be clear on a few things,...

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How to claim a child’s income below the basic personal amount

Even if a child’s earnings are exempt from income tax, they may be entitled to tax credits or deductions....

Taxes

2022 Income Tax Guide for Canadians: Deadlines, tax tips and more

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How to calculate the taxable amount for a cashed-in whole life insurance policy

Is a whole life insurance cash value taxable? Spoiler: Yes. But find out how to calculate the taxable amount....

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For Canadians living abroad, is it worth investing in foreign ETFs?

Canadians with extra savings overseas may wish to invest in foreign ETFs. However, there may be alternatives with less...