My three kids chose different educational paths. How do I withdraw RESP funds in a way that’s fair to them and avoids unnecessary taxes?
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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...
A company I hold stock in was acquired or merged—do capital gains apply?
Shareholders cannot always prevent a company sale or merger from going ahead. When that happens, do you still owe...
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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,...
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....
4 strategies for income splitting with a lower-income spouse
If one spouse does not work, is it beneficial for the other to invest and buy stocks in their...
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What do to with a spousal RRSP at age 71
Converting the account to a spousal RRIF is a common option, but be aware of the income attribution rules.