Capital Gains Reserve when selling Property
You may realize a capital gain on property, like real estate or marketable securities, if your selling price (net of costs like commissions or legal fees) exceeds your…
Click here for moreSmall Businesses Air Quality Improvement Tax Credit
To encourage small businesses to invest in better ventilation and air filtration to improve indoor air quality, the Federal government introduced a temporary Small Businesses Air Quality Improvement…
Click here for moreWILL THE GST QUICK METHOD SAVE YOUR BUSINESS MONEY?
The quick method accounting was introduced by Canada Revenue Agency (CRA) to help small businesses calculate their net tax for GST/HST purposes in a simplified manner. When you use the…
Click here for more2022 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…
Click here for moreContribute 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…
Click here for moreProposed 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…
Click here for moreDid 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…
Click here for moreSibling 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,…
Click here for moreCCB 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…
Click here for moreCRA 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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