If you have seniors or adults with disabilities living in your home, you will appreciate the new refundable tax credit. The new refundable tax credit would provide financial support when constructing a secondary suite for an eligible person to live … [Read more...]
Just for Dentists Newsletters
19
Dec, 2022 Exchange-traded funds (ETFs) are ideal for the tax loss-selling investor
December 19, 2022 by
Many investors love ETFs because of their low cost and liquidity. The ETFs are also suitable for those who engage in tax loss selling. Losses on the sale of ETFs are treated like losses on share sales, generating capital losses. However, when you … [Read more...]
19
Dec, 2022 Gift Cards Now a Tax-Free Treat for Your Staff
December 19, 2022 by
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...]
19
Dec, 2022 The new Canada Dental Benefit Plan
December 19, 2022 by
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...]
24
Nov, 2022 Highlights of the 2022 Federal Economic Update
November 24, 2022 by
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...]
24
Nov, 2022 Tax Tips to help manage your stock portfolio
November 24, 2022 by
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...]
24
Nov, 2022 CRA keeps charging more interest on overdue taxes
November 24, 2022 by
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...]
24
Nov, 2022 Making your mortgage tax deductible
November 24, 2022 by
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...]
21
Oct, 2022 Selling your practice-a checklist
October 21, 2022 by
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...]
21
Oct, 2022 The tax benefits of splitting pension income
October 21, 2022 by
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...]
