Canada News Centre

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Life in the Tax Lane November 2018

This month’s topics include a multi-million dollar shareholder taxable benefit; eligible child care expenses; 2019 changes to employment insurance, 2019 increases to Canada Pension Plan premiums; and Independent contractor vs employee. Click below to read more: Life in the Tax Lane November 2018 …

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Life in the Tax Lane August 2019

This month’s topics include: Parking taxable benefit: Employee stock option tax changes; Condo sale – income or capital?; First-Time Home Buyer Incentive; and T1135 taxpayer relief. Click below to read more: Life in the Tax Lane August 2019 Source: Tax Tips

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TaxTips Nov 2019 Newsletter

2020 Calculators; Last 2019 trading day; Retire at 50!; Convert RRSP to RRIF at 71; Lifetime capital gains exemption; Quebec indexation; 2020 CPP/QPP; and much more! Click below to read more: TaxTips Nov 2019 Newsletter Source: Tax Tips

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Shareholder Loans

A loan by a corporation to a shareholder may result in a deemed taxable benefit. Care must be taken in the timing of salary or dividend payments to clear shareholder loans. The prescribed interest rate for s/h loans for Q2 2020 is unchanged. …

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Tuition Credit Problem

The tuition/education/textbook amounts carried forward are always reduced by the maximum amount that can be claimed in the year, even if the maximum amount is not claimed. This sometimes means that credits such as the dividend tax credit cannot be used. Click below…