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Filing income taxes

Filing your Canadian Taxes

Your filing income taxes deadline is April 30th, and that means that it is once again time for Canadians to start collecting tax and earnings forms and figuring out their income taxes. For many...

Capital Gains Tax

Taxes in Canada

  Income taxes form a major portion of the annual revenues of the federal and provincial governments of Canada. Tax collection agreements allow different governments to levy taxes through a single administration and collection...

CPP Changes

What is changing with the CPP?

Canada’s finance ministers came to an agreement to make changes to the CPP. They came up with an expansion to the Canada Pension Plan to help future Canadians save for retirement. These changes happened...

inheritence fees and taxes

Is my inheritance taxable?

Your relative passed away at age 80 in early 2016. They never married and had no children. You are the sole beneficiary in their will. Is your inheritance taxable? It is basically the executor’s...

Mortgage

Tax Deductible Mortgage? The Smith Maneuver Explained

Although Canada does not directly provide home-owners with tax-deductible mortgages, they do offer an investment incentive that enables Canadians to turn their mortgage into tax-deductible debt called the Smith Maneuver. Tax deductible means that...