Principal Residence Exemption
The benefit of the principal residence exemption is obvious. As long as the sale qualifies, you will not pay tax on the profit you made from selling your...
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Gross Negligence Penalties
If you, knowingly or under circumstances amounting to gross negligence, made a false statement or omission on your tax return, the Canada Revenue Agency...
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Tax Residency
Canada allows its citizens to be residents of Canada for tax purposes, and non-residents of Canada for tax purposes. This is an important distinction as a...
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Employee vs. Independent Contractor
Many individuals choose to categorize themselves as an independent contractor (self-employed) rather than an employee because of the various tax advantages....
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