CA Blog

    Tax planning becomes more and more critical for many Canadian businesses. Simply speaking, the goal of tax planning is to maximize all the deductions available as well as defer the tax as much as you can to the future. Under the existing tax rules, a...

    If you have any questions about your tax filings and you want to call the CRA, then what should you do Here are some tips: Tip #1: be nice and polite CRA agents are human beings and they deserve respect as well. Talk to them nicely and explain the...

In British Columbia, the provincial government has imposed 15% property transfer tax on foreign real estate buyers in Metro Vancouver. Local government strongly believe that “this tax would limit demand, making housing more affordable in Metro Vancouver.” While in...

Tony Melman, an ex-managing director of a well-known Canadian private equity firm, has been found guilty in tax court for omitting $18.9 million of taxable dividend income in 2007 taxation year. Gross negligence penalties has been imposed due to such huge omission....

In the previous blog, we talked about the tax implication on claiming CCA on the rental property and time value for the tax savings. As situations may vary from individuals, all factors should be carefully taken into consideration before a decision is made. One of the...

Plan your tax before the income tax time. It's always beneficial for individuals to think through lots of issues before nailing down the property investment transactions. Today, investing a rental property becomes a hot topic conversation these days. But is it that...

A client phoned in and told us his transaction over-the-counter in RRSP account has been flagged as non-qualified investment by his discount broker and the CRA may impose penalties. Calm Down Today, a lot of investors have enjoyed the flexibility and freedom in their...

We are talking about tax planning again today. People forget about the planning part after filing their taxes in 2016. If you can plan it ahead and execute it properly, it may save you a lot of money. One of tax planning strategies is income splitting. How income...

In early 2016, Toronto Real Estate Board has reported that a substantial 20 per cent increase compared to 5,032 rentals reported in Q4 2014.The real esate experts expect rent growth to remain strong in 2016. What a great year for a lot of investors owning the rental...

In the past, when investors dispose traditional mutual funds, they must pay tax immediately on capital gains. Mutual fund industry creates one innovative product for investors' non-registered accounts. This product is called Corporate class funds. Why it is so...

It is normal to see some clients have not filed their taxes for a number of years. If you ask why, they may come back with the similar idea: “I don't make even close to $10,000 a year. It is pointless to complete the tax return.” Well, there are a few points that need...

The tax season has come. We are not going to look back how our tax numbers work out in 2015 taxation year but also keep in mind the changes for 2016. So, what are the highlight of tax changes starting 2016 ?

Recently, a few clients have asked the same question if an in-trust bank account can be used to save some taxes. My answer to them is maybe. I think it is worthwhile sharing the key points on this subject with you as well. First of all, how an in-trust account is set...