General program The general program provides relief to taxpayers who want to correct unintentional errors. If your application is accepted into the general program, you will not be charged penalties and will not be referred for criminal prosecution related to the information disclosed. Through the general program you may be granted partial relief of interest Read more about Voluntary Disclosure Program[…]
Regardless of age or personal wealth, there are many Canadians who do not have a Will. Although the thought of preparing a Will may seem to be premature or too burdensome for some, the consequences of dying without a Will can be severe. If you die without a Will (this is referred to as dying Read more about 10 Consequences to Dying Without a Will[…]
Over the past 4 years or so, we have experienced an unprecedented increase in the complexity of private company taxation. In today’s tax environment what strategies are tax practitioners looking at for 2019? Please keep in mind that the information contained herein does not represent tax or legal advice and is for informational purposes only. Read more about Tax Planning in 2019[…]
Ah, the married life! When planned well, matrimony can turn into a beautiful, life-long partnership. But prior to tying the knot, many newlyweds fail to ask crucial information about their partner’s life that may place an expiration date on their marriage one day. Before you take the leap into matrimony, sit down for a serious conversation with Read more about 15 questions you should ask before getting married[…]
Since tax laws change every year, it is strongly recommended to update yourself with new tax laws to maximize your tax refunds. Even a change in your family status from the previous year requires different tax planning in current year. The checklist serves as a reminder of what types of payments are deductible or claimable Read more about 2017 Personal Checklist[…]
This attached presentation will give you quick answers to many questions relating to 2017 personal tax return and corporate tax planning. We list major changes to attached presentation, including income tax changes that have been announced but have not become law at this time. Click to view 2017 updates – 2017 Tax Updates
The standard age for starting Canada Pension Plan retirement benefits is 65. However, you can take a reduced benefit as early as age 60 or receive larger benefits by waiting as long as age 70.This calculator offers a rough estimate of whether to it makes sense to take CPP early, at 65 or delay. A Read more about 60 through 70: At what age should you start taking CPP?[…]
Question: Hi, I have my non-registered investments at ModernAdvisor and really enjoy the platform and the service. However, I haven’t opened an RRSP or TFSA yet. The reason is that I’m not sure if I will stay in Canada for the remainder of my career. My question is, what would happen to my RRSP and TFSA if Read more about Leaving Canada with an RRSP & TFSA[…]
Accountants are busy crunching the numbers for small-business clients who may be affected by Ottawa’s proposals to close loopholes these companies use to lower their tax bills. The Liberal government is looking to remove what it sees as a financial advantage people with corporations have compared with salaried employees. Business owners argue the suggested moves are unfair Read more about How much will Morneau’s proposed tax changes cost small business?[…]
Planning your estate matters is first and foremost about having a will. But it can also be much more. A well-thought-out estate plan ensures that your family is cared for should something happen to you, and that your money goes where you want it to. It’s an important pillar of managing your wealth. Individual requirements Read more about A simple guide to estate planning[…]