2021 Tax Planning Tips

2021 Tax Planning Tips for the 2021 personal tax preparation season.  See below for a list of tax planning considerations. Please contact us for further details or to discuss whether these may apply to your tax situation. 1)   Certain expenditures made by individuals...

2022 Vehicle Allowance Rates

2022 CRA Vehicle Allowance Rates 2021 was a very challenging year and we hope that 2022 will be much better. If you reimburse yourself or your employees for business use of a personal vehicle the CRA vehicle allowance rates for 2022 have increased by $0.02 per km. The...

Employee Taxable Benefits

Employee taxable benefits are to be calculated and included in your employee’s income on their T4 slips each year.  With the calendar year coming to a close, it is a good time to evaluate if you have any taxable benefits to report for your employees. The most...
Withdrawing from Family RESPs

Withdrawing from Family RESPs

Withdrawing from Family RESPs: Flexible planning possibilities. A Registered Education Savings Plan is an excellent way to save for you children’s post-secondary education. (Check out our previous post, What is a Registered Education Savings Plan?) If you have...

What is a Registered Education Savings Plan?

What is a Registered Education Savings Plan? Registered Education Savings Plans (RESPs) are a simple and effective way to save for you child’s post-secondary education.  The main benefit of an RESP is its tax-advantaged nature. Similar to an Registered...