Don’t Miss the 2019 Tax Changes!

Country road caution sign reading CHANGE AHEAD!

Written by Gwyneth James MBA CPA, CGA  Senior Partner If you have been a little busy lately managing work, kids, or other responsibilities you may have missed a few changes to tax- and employment-related rates for 2019. Here’s a quick recap: The maximum rate per kilometer that an employee or shareholder is allowed to claim … Read more

Your December To Do List!

Written by Gwyneth James MBA CPA, CGA  Senior Partner Okay, I know…accounting is the farthest thing from your mind right now, but hear me out. There are just a few items that you need to take care of while you sip your glass of egg nog. If you have a business, don’t forget to take … Read more

Home Buyer’s Plan and Lifelong Learning Plan

Written by:  Gwyneth James MBA CPA, CGA  Senior Partner You’ve been moving around and renting for the past five years or more, but now want to buy a home.  Unfortunately, the only savings you have are in RRSPs.  Don’t cash them in!  The Home Buyer’s Plan (HBP) allows you to “borrow” up to $25,000 of … Read more

Reporting the Sale of Your Principal Residence

Written by:  Gwyneth James MBA CPA, CGA  Senior Partner Starting with the personal tax returns filed for 2016, individuals who sold their principal residence had to report that sale on their tax return on Schedule 3 – Capital Gains (or Losses) for the Year. The principal residence exception eliminates any capital gains from the sale … Read more

Who Should Have a TFSA?

Written by:  Gwyneth James MBA CPA, CGA The Tax Free Saving Account (TFSA) has been around now for ten years and is pretty popular with good reason – everyone should have one. There is no tax deduction for contributions to a TFSA. The ‘tax free’ relates to any investment earned by the TFSA. It is … Read more

Tax Planning for Retirees

Written by:  Gwyneth James MBA CPA, CGA  Senior Partner Fall always feels like a time of new beginnings and some folks take time as the days cool to consider their year-end tax planning. Retirees should examine their year-to-date income and consider whether they should take more or less funds from their registered savings accounts (RRSPs … Read more

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