by Jason RosenIs Tax Deducted from CPP Payments?
The Canada Pension Plan (CPP) operates throughout Canada, except in Quebec, where the Quebec Pension Plan (QPP) exists, aiming to provide contributors...
by Jason RosenWhat is the Working Income Tax Benefit?
The Working Income Tax Benefit (“WITB”) is a refundable tax credit intended to provide tax relief for eligible working low-income individu...
by James PendergastWhat is the Marginal Tax Rate?
The marginal tax rate is the percentage of tax you will pay, which is based on the amount of income you earn. The more money you make, the more tax y...
by Jason RosenWhat is a Schedule 5?
The Canada Revenue Agency’s (CRA) Schedule 5 is used when taxpayer’s want to claim an amount for an eligible dependent, the amount for an infi...
by Jason RosenWhat is a Schedule 1 Federal Tax Form?
CRA Schedule 1 A Schedule 1 Federal Tax Form, or a CRA Schedule 1 as some people call it, is used to calculate the percentage of your income you are g...
by James PendergastWhat Kind of Medical Expenses are Tax Deductible in Canada?
While health care in Canada is publicly funded, there are various out-of-pocket medical expenses that taxpayers incur on a daily basis. Examples inclu...
by Jason RosenDo You Have to Pay Tax on Rental Income?
What is Rental Income? Rental income is any income earned for allowing others the use of a specific space. This includes houses, apartments, individua...
by James PendergastTuition Tax Credits
The Tuition Tax Credit The tuition tax credit (“TTC”) is a non-refundable tax credit that helps Canadian students who are currently attending, o...
by Jason RosenExporting Vehicles – GST/HST and Input Tax Credits
Exporting Vehicles – GST/HST and Input Tax Credits The sale and export of vehicles from Canada should theoretically yield GST/HST refunds. These...
by James Pendergast