Tag: CRA

If you have ever tried to buy your first home in Canada, you already know it feels like learning a new language. There are rebates, tax credits, special accounts, stress tests, and rules that make your head spin. The good...

A simple guide to how it works, the traps to avoid, and how real Canadians can use it to lower taxes If you’ve ever looked at your non-registered investments and thought, “Wow… this stock is deep in the red,” you...

If you’re thinking about buying a car for your business in 2025, you’ve probably heard all kinds of conflicting advice:  “EV write-offs are gone.”  “EV rebate is gone.” “Gas cars are cheaper now—don’t bother with EVs.” “EV tax benefits are dead.” “Carbon tax...

If you’ve ever looked at your pay-cheque and wondered where all your hard-earned money went, you’re not alone. Most Canadians feel that way. The truth is, our tax system isn’t out to punish success — it’s designed to be progressive....

If you read the budget headlines, you probably saw big promises and small print. The big shift is accounting, not tax relief. Ottawa now labels major projects as capital investment, which makes the annual deficit look better while borrowing continues....

In a recent court case 4490380 Canada Inc. v. The King (2024 TCC), the taxpayer—an experienced real estate investor—won an important victory against the Canada Revenue Agency (CRA).  The question at the heart of the case?  When you sell a...

This one rule could save you thousands, but only if you know it.  Many people overlook how the system works – corporate rental income can face a 50 percent tax if you’re not careful If you’ve ever considered buying rental...

If you’ve ever thought estate planning was just about saving taxes, you might be surprised to learn that the real challenge is finding the money to pay those taxes when the time comes.  Let me tell you a story from...

If you’ve ever sold a property and thought, “I didn’t make much cash, so I won’t owe much tax,” you might be in for a surprise.  Why This Matters  Whether you’re flipping, downsizing, or selling a rental, the CRA doesn’t...

Financial Statements Are More Than Just CRA Paperwork  For most small business owners, accounting is something you do once a year for CRA. You scramble to gather receipts, your accountant files the taxes, and months later, you finally see your...