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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....

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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...

Taxes

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

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Scotiabank

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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.

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What expenses can you deduct when renovating a rental property?

The purpose of the renovations, as well as the occupancy of the building, can influence whether the expenses are...

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Can you save tax by moving into your rental property?

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Scotiabank

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How spouses with joint accounts should claim capital losses

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Scotiabank

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Financial planning in your 70s

Be mindful of these money concerns, even after retirement.