Online tax software is budget-friendly and time-efficient, but depending on the complexity of your situation, hiring a tax professional may be preferable. The official deadline to file your Canadian personal income tax return for 2020 and pay any taxes owed to the Canada Revenue Agency (CRA) is April 30, 2021. For Quebecers only: You can...Read More
Tax season can be stressful, but it can also be an exciting time for your wallet. The official deadline to file your Canadian personal income tax return for 2020 and pay any taxes owed to the Canada Revenue Agency (CRA) is April 30, 2021. For Quebecers only: You can file your return up to May...Read More
It’s that time of the year again and the question remains…”am I better off investing in my Registered Retirement Savings Plan (RRSP) or my Tax Free Savings Account (TFSA)”? Here are a few important elements to consider when faced with the choice: First consider your marginal tax bracket. Investments made in your RRSP are tax...Read More
Pension income splitting — Those who receive a pension may be eligible to split up to 50% of eligible pension income with a spouse Guaranteed income supplement — If you received the guaranteed income supplement or allowance benefits under the old age security program, you can renew the benefit by filing by the deadline. Registered retirement savings plan (RRSP) —...Read More
