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Canadians still underusing TFSAs

Accountholders' unused TFSA contribution room exceeded the market value of their plans at almost all income levels

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Understanding the underused housing tax

If your client is an affected owner, they must file a UHT return by Oct. 31 to avoid penalties

calculating numbers for income tax return with glasses pen and calculator

Understanding the CPP death benefit

The amount has been falling in real terms

  • By: Lea Koiv
  • May 12, 2023 June 30, 2023
  • 10:59
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T1135 reporting: What your clients need to know

Failure to report foreign-source income can result in high penalties

illustration of magnifying glass and tax forms

Tax-loss selling: Superficial loss and identical property rules

Help clients realize a capital loss while maintaining market exposure

Wooden box lined with hay from the chicken eggs

What clients should know about the CPP reforms

Clients are paying in but increases to benefits remain minimal for now

  • By: Lea Koiv
  • April 19, 2023 June 30, 2023
  • 13:25

The gift of homeownership

Tax tips when tapping the Bank of Mom and Dad

red card

Advisor learns the hard way that TFSAs are not for frequent trading

A Tax Court case led to a hefty tax bill

Home For Sale Real Estate Sign in Front of Beautiful New House.

Selling real estate? The CRA is (still) watching

Transactions, including property flipping, require proper tax reporting

senior couple worrying about their money situation

How inflation affects OAS timing

Three case studies to help clients choose when to begin their benefits

  • By: Lea Koiv
  • January 5, 2023 June 30, 2023
  • 14:34
red emergency button

A cautionary tale about executors and clearance certificates

Court decision serves as a warning about property distribution, executor renunciation

electrical plug

TFSA overcontributions still a problem

Federal Court case is the latest reminder of the costs

increase in inflation

Inflation will affect tax brackets

Indexing helps your clients’ after-tax income keep pace

Business people holding trophy award after win competitor.

Tax-loss selling: investing’s moral victory

Help clients turn investment losses into a tax win

Closeup of paper man pushing tax wooden block on table against gray background

Help clients claim tax credits for charitable donations

A sample scenario illustrates the savings

What happens to non-residents’ RRSPs and RRIFs when they die?

A client scenario illustrates whether withholding taxes apply

Estate planning with trusts

Help your client benefit from these important tools

Investment bubble causing financial crisis, overvalued stock market or money inflation concept, businessman investor pumping air into big floating balloon with US Dollar money sign ready to burst.

Consider inflation when deciding when to begin CPP

The higher the inflation rate, the bigger the benefit of waiting

  • By: Lea Koiv
  • June 28, 2022 June 30, 2023
  • 09:00
income tax owing

CRA can use ‘arbitrary assessments’ to fill a filing void

A Tax Court case offers a warning about missing corporate returns

time is money

Estate planning with TFSAs

Avoid the tax consequences of not distributing a TFSA quickly after the account holder dies

Chalk drawing of house

Programs and incentives to help first-time homebuyers

These initiatives can help clients enter the housing market

Financial Advisor Assisting Senior Couple

Love and taxes, Part II: Tax and estate planning for two spouses

Tax rules offer flexibility when a client has both a spouse and a common-law partner

A doctor and an elderly patient are indoors at the woman's home. The doctor is talking to the woman while holding a tablet computer.

All about eligible medical expenses

Help your client claim these non-refundable tax credits

couple saving money together

No court relief for accidental RRSP overcontribution

A lack of understanding about spousal RRSP limits was no excuse

spousal RRSP

Spousal RRSPs: What you need to know

Make sure clients don’t run afoul of the attribution rules