Tag: tax planning

Recent Update on the UHT Act CRA made an announcement March 27 that they will impose NO penalty and interest on UHT late filing until October 31, 2023. Note: that if a UHT return for 2022 is filed after October...

Last week, we discussed a very stressful but relevant topic – the Underused Housing Tax Act. I thought we could use some lighter topic, and somewhat more relevant topic this week – top tips on how to prep for your...

To prevent foreign buyers from purchasing Canadian residential properties and holding them vacant, the Canadian Federal government announced in the 2018 budget that they would implement the new Underused Housing Tax Act (UHT). And this new act is finally effective...

Many people asked me, “how do I pay less tax?”.  One of the top tips I often shared was to maximize your tax deduction.  This includes keeping track of your receipt, maximizing all the deductions that you are eligible to...

Here’re some of the tax updates for 2023. Personal income tax marginal tax rate RRSP contribution limit CPP contribution increase TFSA contribution limit Automobile deduction Introduction of FHSA account And there’re many more… Watch the Youtube video below… Until next...

Private lending can be a great way to earn a higher return on your investment, but it’s important to thoroughly scrutinize the terms and conditions before making a commitment. It’s also important to be aware of the risks involved and...

Are you a City of Toronto homeowner? If so, you would have received a yellow letter from the City asking you to submit a declaration form by Feb 2, 2023 about the occupancy status of your residential homes in Toronto...