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 Jason RosenWhat is a T1013 Form?
A T1013 form is an authorization form that allows someone to access, and make changes to your CRA Account (Social Insurance Number). What is a ...
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 RosenDesignating a Property as a Principal Residence – T2091
The Principal Residence Exemption may allow for the profit from the sale of your home to be received tax-free. For many Canadian households, a vast am...
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 RosenCan You Claim Land Transfer Tax in Ontario
Land transfer taxes are one of many fees associated with buying real estate in Ontario. Upon the purchase of land or an interest in land in Ontario, t...
by Jason Rosen