2022 Automobile Deduction Limits and Expense Benefit Rates for Business

The ceiling on the capital cost of passenger vehicles for capital cost allowance (CCA) purposes has increased from $30 000 to $34 000 (plus applicable federal and provincial…

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Contribute to Your RRSP

Contributions to RRSP’s are tax deductible and the income earned within the plan grows tax deferred until retirement. You can claim a contribution of up to 18% of…

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Proposed changes to Business and worker support programs

On October 21, 2021 the federal government announced proposed changes to both business and worker support programs.  It was confirmed that the existing general support programs that were scheduled to…

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Did you buy a home recently?

The real estate market was quite active this spring and summer in Calgary.  Perhaps you purchased a new home and may qualify for tax credits. These credits can save you…

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Sibling Estate Disputes

“My Kids Will Never Fight Over My Estate”. The book “Bobby Gets Bubkes: Navigating the Sibling Estate Fight” by Charles Ticker dives into the issue of sibling rivalry,…

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CCB Young Child Supplement

The CCB young child supplement (CCBYCS)is part of Canada’s Building Back Better plan to support Canadians during this period of recovery. This CCBYCS is available to families who are entitled…

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CRA May Start Taxing Crypto Profits

The CRA is getting serious about taxing crypto profits. After a lengthy court battle, the agency won the right to demand customer data from Coinsquare, a cryptocurrency exchange. As…

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Should I Pay Myself Dividends or Salary

The question “should I pay myself dividends or a salary?” is one that comes up frequently with small business owners. There are several factors to consider when trying…

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Tax Season has Come to an End

Tax season 2021 has come to an end, so what happens if you were not able to file on time? April 30 was still the cutoff for turning…

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The 2021 Federal Budget Has been released

The budget focuses on jobs creation, small businesses and growth, women and early learning and child care, climate action and a green economy, and young Canadians. Budget 2021…

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