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Tax Rates 2024 – For Ontario Residents
Tax Rates 2024 for Ontario Residents Definition of Effective Rate and Marginal Tax Rate: The effective tax rate is the actual percentage you pay on your
Bare Trust
What is a Bare Trust? Bare trust is a type of trust where the trustee acts as an agent for all the beneficiaries under the trust
What is better for you: Salary or Dividend
Options to Withdraw Funds: The two most popular options to withdraw funds from the business are taking a business salary or dividends. A third option is
Tax Rates 2023 – For Ontario Residents
Tax Rates 2023 for Ontario Residents Definition of Effective Rate and Marginal Tax Rate: The effective tax rate is the actual percentage you pay on your
Underused Housing Tax (UHT)
What is the Underused Housing Tax? It is not safe to assume that the Underused Housing Tax may not apply to you just because you are
Federal Budget 2022
Federal Budget 2022 On April 7th, 2022 the Federal Budget was released. This budget paper provides an overview and highlights key features included in the budget.
Benefit from 2022 Ontario’s Staycation Tax Credit
Ontarians who are planning a vacation (including family getaways) within the province this year could benefit from tax refund under the new Ontario Staycation Tax Credit
Evolving Tax Rules in Real Estate Industry
1- Am I considering all deductible expenses when preparing tax returns ? Commission Rebates Car expenses Work-space-in-the-home expenses Meals and entertainment Advertising expenses Office expenses and
Consider Incorporation
Advantages of Incorporation 1- Limited Liability With a corporation, individual shareholders are not responsible for corporate debts or other liabilities. Shareholder can only lose the value
RRSP – Should I Maximize?
Common Perspective: Maximize RRSP! When it comes to savings for retirement, nothing can beat it! Reality: Always consider below before investing in RRSP: Current income level
Renting Principal Residence – Changings in Principal Residence
Renting Principal Residence – Change in use of Principal Residence What is Principal Residence: Principal Residence is the housing unit that is ordinarily inhibited by taxpayer
Government Promise Free and Automatic Tax Returns
Free automatic tax returns system promised for simple tax filers: This is a long-overdue change that will result in hassle free tax filing for hundreds of