by James PendergastWhat is a T2202A Tuition and Enrolment Certificate?
A T2202A Tuition and Enrolment Certificate is a document that allows taxpayers to claim tax credits for amounts paid to certain schools, colleges, uni...
by Jason RosenWhat is a T5018 Used for?
A T5018 is a T-Slip that is provided to subcontractors in the construction industry detailing how much they have been paid. It is similar to a T4 Slip...
by James PendergastWhat is Considered Passive Income in Canada
Passive income is income that is derived from the ownership of capital property or assets that generate income without excessive effort on the part of...
by Jason RosenWhat are the Tax Brackets in Canada?
Canadian tax brackets are portions of Taxpayer’s income in Canada which get taxed at different rates. The following is a breakdown of the Canadian F...
by James PendergastClaiming Capital Cost Allowance on a Rental Property
Capital Cost Allowance is a deductible expense (taken off your taxable income) for the depreciation (wear and tear) of something. More specifically, ...
by Jason RosenWhat is Considered Taxable Income in Canada?
Taxable income means the value of what you have received is included in your income for the year, and you must pay tax on this amount. A common questi...
by Jason RosenWhat is Capital Gains Tax?
What is Capital Gains Tax? Capital Gains tax is a tax rate that is applied to income earned from the sale of capital property. This differs from the t...
by James PendergastTaxes and the Gig Economy in Canada
What is the Gig Economy? The gig economy is defined as one in which temporary, flexible jobs are much more common and companies lean more towards hiri...
by Jason RosenHow Much is Income Tax in Canada in 2018?
Canadian income tax rates vary according to the amount of income a taxpayer earns. In addition, taxpayers pay different rates on different portions of...
by James Pendergast