How to determine if it’s CRA on the line. Over the past few years, scam phone calls from individuals claiming to be from the Canada Revenue Agency (CRA) have increased. As we approach the time of year to file personal tax returns, these calls become more frequent as...
RRSPs and TFSAs are both “registered” investment accounts, which means that they receive special tax treatment that is not applicable to other “non-registered” investment accounts. The special tax treatment of these accounts increases the total benefit of investing by...
Instead of liquidating securities to fund donations, it may be more tax efficient to donate securities directly to charitable organizations. If you sell a security to obtain cash to donate, you generally need to pay tax on the profit earned, also known as a capital...
Many physicians in Canada have incorporated their practices, as there are significant tax benefits to doing so. This then provides incorporated doctors with two avenues to donation: Corporate Donations Personal Donations We are often asked, “should I make donations...
December is the month of giving. While deciding which charitable organizations you wish to support this year, the following donation tax credit information is good to keep in mind: What qualifies as a donation for tax purposes? To qualify for the donation tax...
As the holiday season approaches, it is not unusual for doctors to provide gifts to their employees, hospital administrative staff, colleagues, and nurses. While these gifts are generous gestures, they may result in unexpected tax implications. Gifts to Employees When...
