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Making Income Tax Returns Simpler is No Simple Task

Written on 15 Apr, 2012 at 22:12 in Featured, Personal Finance | Comments
Making Income Tax Returns Simpler is No Simple Task

Although many people say Canada’s income tax system is overly complex — a realization often reached as they struggle to compile T4s and calculate federal and provincial credits — coming up with ways to reform it isn’t exactly a cakewalk... (Continue reading)

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5 Benefits of a Flat-Tax System

Written on 1 Apr, 2012 at 21:15 in Featured, Personal Finance | Comments
5 Benefits of a Flat-Tax System

A common refrain during tax season is that the whole system of credits and sliding rate scales is just too complex. One of the ideas that has cropped up in recent years is to replace the system with a simple... (Continue reading)

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Confusion Reigns Over TFSA Rules

Written on 28 Aug, 2011 at 22:37 in Featured, Personal Finance | Comments
Confusion Reigns Over TFSA Rules

Contribution rules for a popular tax shelter continue to perplex ordinary Canadians, despite a year-long information blitz by the Canada Revenue Agency and the big banks. The agency sent out almost 103,000 letters to holders of tax-free savings accounts this... (Continue reading)

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The Basics And Benefits Of Registered Retirement Savings Plans

Written on 22 Jun, 2010 at 19:32 in Better Living, Featured, Personal Finance | Comments
The Basics And Benefits Of Registered Retirement Savings Plans

What if there was a way that you could get the Canadian government to pay almost half of the money you needed to make an investment (be it for the purchase of stocks, mutual funds, guaranteed investment certificates, mortgages etc.).... (Continue reading)

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Adopted recently? This tax tip’s for you.

Written on 17 Mar, 2010 at 22:34 in Better Living, Featured | Comments
Adopted recently? This tax tip’s for you.

If you’ve recently adopted, or know anyone who has, this Canadian tax advice is for you, courtesy of Intuit (think: QuickTax) Here was the original reader-submitted question: Q – Is there an adoption expenses tax credit? We adopted in 2009... (Continue reading)

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Dealing with the Canada Revenue Agency

Written on 13 Mar, 2010 at 21:30 in Better Living, Personal Finance | Comments
Dealing with the Canada Revenue Agency

Here are two stories that show how important it is to know how much tax you owe and pay the right amount. If you don’t, the government can hit you with heavy penalties. In the first case, a woman sent... (Continue reading)

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How To Fix Errors On Old Tax Return Plus Claim Your Kids Deduction

Written on 27 Feb, 2010 at 4:44 in Personal Finance | Comments
How To Fix Errors On Old Tax Return Plus Claim Your Kids Deduction

Thanks to commenter David on my recent QuickTax software review, I learned that you can claim your kids and I now need to refile my tax returns for the last two years.  It is on the federal TD1 form and... (Continue reading)

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RRSP Spectacular!

Written on 24 Feb, 2010 at 14:51 in Featured, Personal Finance | Comments
RRSP Spectacular!

The deadline is looming and Canadians still ponder about whether they should put more money into their RRSPs? When is the Deadline? According the to TD Waterhouse web site the deadline is Midnight on March 1st (so you get an... (Continue reading)

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What Can I Deduct to Pay Less Tax? File Your Income Tax with QuickTax Review

Written on 23 Feb, 2010 at 22:01 in Personal Finance | Comments
What Can I Deduct to Pay Less Tax? File Your Income Tax with QuickTax Review

Now that we have almost completed the RRSP season for the 2009 income tax year, it is now time to think about one of the most painful financial activities: file taxes! I’ve recently been contacted by Intuit (the famous producer... (Continue reading)

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