Buying Capital Assets
Buying Capital Assets In computing income from a business, capital cost allowance (CCA), or tax depreciation, is allowed as a deduction. When capital assets are…
Tax Matters for the Incorporated and Self-employed
Tax Matters for the Incorporated and Self-employed Self-Employed Status People who are self-employed can generally take advantage of a wider range of available…
The Canada Education Savings Grant
The Canada Education Savings Grant The government of Canada adds to your savings in a Registered Education Savings Plan (RESP) with the Canadian Education Savings…
Retirement
Retirement Tax Credits for Those Over 65 If you were 65 years of age or older on December 31, 2015, then you might…
Real Estate Matters
First-Time Home Buyers’ Tax Credit If you acquire a qualifying home, you might qualify for a home buyers’ tax credit (HBTC), which…
Medical, Donation, and Other Tax Credits
Medical, Donation, and Other Tax Credits Medical Expenses Don’t forget to claim your medical expenses on your tax return. You can claim a tax…
Writing off Loans Made to a Business
Writing off Loans Made to a Business If at the end of a year you are owed a loan amount that is no longer collectible,…
Investment Income, Gains, and Losses
Investment Income, Gains, and Losses Attribution of Investment Income Complex attribution rules prevent spouses from simply splitting joint investment income between them to…
Child Care Expenses
Child Care Expenses You might be able to deduct your child care expenses if they were incurred to enable you or a supporting person to…
Employee Stock Option Benefits
Employee Stock Option Benefits It is increasingly common for employers, both private companies and public companies, to grant to their employees an option to acquire…
