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Gift Cards Now a Tax-Free Treat for Your Staff

Just in time for Christmas, CRA introduced a new policy on gifts and awards. CRA’s previous policy was that the first $500 of annual gifts and awards would be considered non-taxable benefits, however it would not apply to cash or near cash gifts. In … [Read more...]

The new Canada Dental Benefit Plan

The Canada Dental Benefit (CDB) provides eligible parents with up to $650 tax-free, per year for 2 years, to pay for dental expenses for children under the age of 12. The plan is available exclusively to families who do not have access to private … [Read more...]

Highlights of the 2022 Federal Economic Update

The Department of Finance announced a few personal tax measures which may impact you. Minimum tax for high earners The government reaffirms its commitment to examining a new minimum tax regime for wealthy individuals, as announced in the … [Read more...]

Tax Tips to help manage your stock portfolio

With all the ups and downs in the stock market, it is a Herculean task to manage your stocks. Here are some tax tips to consider before you sell any more shares. Watch the capital dividend account. When your corporation sells shares at a gain, 50% … [Read more...]

CRA keeps charging more interest on overdue taxes

The cost of not paying your taxes by the deadline keeps rising. The interest rate CRA charges on balances owing increased on October 1 to 7%, up from 6% for the previous quarter.  For the first quarter of 2023, the interest rate will rise to … [Read more...]

Making your mortgage tax deductible

If you have faced the unpleasant task of renewing your mortgage, you will no doubt have experienced the significant impact of the higher mortgage payment on your household budget. The mortgage interest rates have generally increased from about 3% in … [Read more...]

Selling your practice-a checklist

Consider the following points that will help you maximize your selling price: Focus on boosting your practice value, by improving revenues. Assemble a professional transition team. Ensure you will have enough money after the sale to lead … [Read more...]

The tax benefits of splitting pension income

One easy way to minimize your tax burden when you are retired is pension income splitting. Pension income splitting is for Canadian residents who are married and, usually, where the recipient spouse is aged 65 or older. It allows them to make a … [Read more...]

Ever heard about the Land Owner Transparency Act (LOTA)?

What you need to know about the Land Owner Transparency Act (LOTA). Filing deadline is November 30, 2022! On November 30, 2020, the Land Owner Transparency Act (LOTA) came into effect and with it the Land Owner Transparency Registry (LOTR). … [Read more...]

New Reporting Requirements for Trusts!

There are new rules applicable to taxation years on or after December 31, 2022, which require trusts, including bare trusts, to annually file T3 trust income tax returns and disclose the following: name and address; date of birth; … [Read more...]

Our New Dentist Program is designed to help new dentists start their career with a solid financial foundation.

What sets us apart from other dental CPA firms is our years of experience working closely with dentists. We offer an unmatched skill set that goes way beyond routine accounting and tax planning. From Practice purchase or Start up assistance and loan financing to practice management and financial/retirement planning, we will help you manage every aspect of the financial side of your dental career.

Call at 604-669-7558 or email us at info[at]purtzki.com to request a free consultation.
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