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Accounting Human Resources Solutions Wealth Management Company News Separation/Divorce Tax Issues When there is a breakdown in a relationship, your personal income tax situation can be significantly impacted. It is essential to inform the CRA and your accountant or tax advisor as early as possible about the status change, including the date of separation. It…

Accounting Human Resources Solutions Wealth Management Company News Personal Tax Matters – Year End Reminders 1. Registered Retired Savings Account (RRSP) Have you maximized your RRSP contributions? You have until February 29, 2020, to make your RRSP contribution for 2019. If you turned 71 in 2019, you need to convert your RRSP to a Registered…

Accounting Human Resources Solutions Wealth Management Company News 2019 Tax Measures There are several measures that come into effect for the 2019 tax year. Here we highlight key changes. Changes to a Canadian-Controlled Private Corporation’s (CCPC) ability to receive a dividend refund: Investment income earned by a CCPC is subject to a permanent tax portion…

Accounting Human Resources Solutions Wealth Management Company News 2018 Personal Taxes – What Should You Know? What is new? The income tax credits for attending a post-secondary education program have been further restricted. Only the federal tuition tax credit remains for the tuition cost component. The Federal education tax credit component that was based on…

Accounting Human Resources Solutions Wealth Management Company News Update – The Revised Income Sprinkling Measures In our January 2018 Tax Alert , we summarized the revised income sprinkling measures and explained what changed and what these changes may mean to your family. These new income splitting rules (Tax on Split Income or “TOSI” rules) are currently…