Claiming 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, Capital...
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Designating 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...
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What 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 question for...
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Can 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, the...
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Revenue Canada Disputes
A Revenue Canada dispute is any disagreement that you have with the Canada Revenue Agency. These disputes can be about anything on your tax returns, such as...
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What 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 tax...
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Taxes 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 hiring...
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How 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 their...
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