by Jason RosenWhat is an Allowable Business Investment Loss?
When a capital loss satisfies certain criteria, it can be reported to the CRA as an Allowable Business Investment Loss (“ABIL”), which is subject ...
by Jasmeen SinghPossible Taxes on the Sale of a Principal Residence
When you sell your home, you may realize a capital gain. A capital gain is a profit earned on the sale of property. However, there is an exception to ...
by Avery KalpinBusiness Use of the Home
Every year, more and more Canadians are opting to work from home. It saves the cost of renting/buying an additional space in an increasingly inaccessi...
by Jasmeen SinghWhat is a T2200 Declaration of Conditions of Employment Form?
A T2200 Declaration of Conditions of Employment is a form that allows certain employees to deduct specific expenses that are incurred for the purpose ...
by Mariya ZekelWho Can be Claimed as a Dependent?
Eligible dependents are normally your closest relatives. As much as we love to care for our loved ones, it can be expensive, so it’s nice to know th...
by James PendergastWhat is a T2125 Statement of Business or Professional Activities?
A T2125 form is a schedule that goes along with a tax return, and it lists income, and expenses where taxpayers operate certain types of businesses. T...
by Jason RosenAre Maternity Leave Payments Taxable?
Maternity and Parental benefits are a form of Employment Insurance (EI) which provide financial assistance to people who are away from work because th...
by James PendergastCanada Tax Return Deadlines for 2019
In Canada, personal tax returns for employees must be filed on or before April 30. Business tax returns must be filed on or before June 15 if a taxpay...
by Jason RosenWhat is a T1135 Tax Form: Foreign Income Verification
A T1135 Tax Form: Foreign Income Verification Statement reports all required foreign property owned by a Canadian resident taxpayer. If a taxpayer in ...
by James Pendergast