Articles

  • Tax Tips – Fitness memberships

    The CRA has ruled there is no taxable benefit to you if your employer arranges for the purchase of a discounted fitness-pass membership from a third party.

  • Tax Tip – Claiming your spouses dividends

    If your spouse or common law partner does not pay enough tax to use the dividend tax credit, consider transferring the taxable Canadian dividends to your income so you can claim this credit, it may provide a greater tax advantage.

  • Tax Tip – Medical Expenses and non custodial parent

    A parent or other guardian who does not live with, and/or have legal custody of a child might still be able to claim certain medical expenses on the child’s behalf.  If the taxpayer is providing for essential needs, factors such as support payments and expenditures for security and education will also be taken into account […]

  • Tax Tip – Adoption Tax Credit

    You may claim a tax credit to cover up to $10,000 worth of eligible adoption expenses for a child of the taxpayer, including non-reimbursed items such as fees paid to an adoption agency that is licensed in a province or territory, court costs, legal and administrative expenses; and reasonable travel and living expenses required to […]

  • Tax Tip Caregiver Tax Credit and EI Claim

    If you take time off work to care for a gravely ill or dying family member, including a parent, spouse or child, you may be eligible to be provided with empolyment insurance benefits of up to six weeks.  You may also claim the caregiver tax credit which reduces federal tax by up to $642 if […]

  • Tax Rules – Foreign Reporting of your holdings

    Did you know that if you have more than $100,000 in foreign assets you need to complete form T1135.  This applies if you had them at any time during the year.   This also applies to foreign assets held in your Canadian Investment and RRSP accounts so be sure to check closely, as well as foreign […]