Maximizing Tax Benefits: Claims Specialized Medical Care Expenses If you or a family member required specialized medical care throughout the year, such as palliative care or other health-related expenses, it’s important to understand that you may have additional medical expenses that others do not. Fortunately, the Canada Revenue Agency (CRA) and Revenu Québec provide relief […]

Saskatchewan Affordability Tax Credit (SATC) Updates: A Welcome Relief for Residents The Saskatchewan government has introduced a much-needed measure, the Saskatchewan Affordability Tax Credit (SATC) updates, to alleviate the financial burden on its residents. As part of a four-point plan aimed at combating the rising cost of living, the government will provide a $500 tax […]

Filing a tax return has never been simpler! No longer do you have to tediously fill out forms by hand and send them via mail to the CRA. With a wide array of options available, all you need to do is select the method that suits your tax situation best.   Unlocking Your Entitlements: Online […]

Important T4 Slip Information for New Canadians Keep an Eye on Your Mailbox It’s that time of year when you can expect some important mail, and one of those items is likely your T4 slip. Employers have until the last day of February to send out T4 slips to their employees. This document, officially known […]

Have you recently sold property or stocks at a higher value than your original investment? Congratulations on your profitable investment! However, it’s important to note that you may be required to report capital gains on your tax return. When you sell investments such as shares, bonds, debts, lands, or buildings and make a profit, it […]

Claiming Specialized Medical Care Expenses: Reduce Your Taxes with the CRA and Revenu Québec If you or a loved one required specialized medical care during the year, such as palliative care or other health-related expenses, you may have incurred additional medical expenses that others did not. To provide relief, the Canada Revenue Agency (CRA) and […]

Amidst inflation and increasing living expenses, hard-working low-income Canadians can now receive a much-needed financial boost. Introducing the Canada Workers Benefit for low-income households, a refundable tax credit designed to offer essential relief.   Unlock Financial Relief with the Canada Workers Benefit for low-income households: Basic Amount and Disability Supplement When filing an income tax […]

Eligible individuals who receive Old Age Security (OAS) and reside in Canada, and have a low income, may qualify for the Guaranteed Income Supplement (GIS). The GIS is a monthly benefit that is non-taxable. To be eligible for the GIS, you must be a legal resident of Canada and be receiving an old-age security pension. […]

Retiring or Relocating Outside Canada: Impact on Your Retirement Benefits As more Canadians opt for retirement destinations with affordable living costs and warmer climates, it raises questions about the fate of their pension and security payments. Whether you’re a snowbird escaping the winter or permanently leaving Canada, this article explores the implications for your CPP […]

Optimal Timing for Taking CPP: Early or Late? Are you grappling with the decision of when to start taking your CPP benefits? Many individuals contemplate whether to begin early or delay until the age of 65, the conventional retirement age. But should you even consider waiting until the maximum age of 70? As retirement approaches, […]