Taxes Canada

8 Things You Need To Know Before Claiming New Family Tax Cut

CBC | Posted 03.02.2015 | Canada Business

Call it income splitting-lite. The version of the family tax credit announced by Prime Minister Stephen Harper last October was a tweaked version of a...

8 Ways to Stay Ahead and Organized this Tax Season

Professional Organizers in Canada | Posted 02.01.2015 | Canada Business
Professional Organizers in Canada

As income tax season creeps forward, many of us wince at the thought of dealing with bursting glove compartments or drawers of faded disorganized receipts, missing electronic documents and the ensuing weekend or evenings spent slaving over the associated paperwork and electronic chores. Here are 8 tips to help you stay organized and stress-free while filing your taxes:

Is A Family Earning $120K 'Middle Class'? Feds Think So

CP | Andy Blatchford, The Canadian Press | Posted 01.27.2015 | Canada Business

OTTAWA - Canada's finance minister insists low- and middle-income families will see two-thirds of the benefits from the Harper government's contentiou...

Feds Hound Senior With Dementia, Parkinson's For $12K In Taxes

CBC | Posted 02.03.2015 | Canada British Columbia

The Canada Revenue Agency is demanding thousands of dollars from a B.C. senior, who suffers from dementia and Parkinson's disease, for failing to decl...

Canada Urged To Change Tax System In Fight Against Inequality

CP | The Canadian Press | Posted 01.26.2015 | Canada Business

OTTAWA - A new research paper for the C.D. Howe Institute says Canada can help combat rising income inequality by taxing people separately for their p...

TFSAs Will Lead To 'Welfare' For The Wealthy, Government Warned

CBC | Posted 01.24.2015 | Canada Business

The Conservative government is facing calls to change the rules around tax-free savings accounts now before a loophole means some of Canada's wea...

Want Your Team To Win The Stanley Cup? Raise Their Taxes

The Huffington Post Canada | Daniel Tencer | Posted 11.19.2014 | Canada Business

A coalition of low-tax advocacy groups recently put out a report analyzing what high income taxes on hockey players mean for NHL teams. And, natura...

Look Who's Paying Canada's Highest Property Taxes

The Huffington Post Canada | Posted 09.30.2014 | Canada Business

Homeowners in some of Canada’s most expensive real estate markets pay some of the country’s lowest property tax rates, and vice versa. The Real...

Provinces Would Suffer Under Tories' Income-Splitting Plan: Report

CP | Stephanie Levitz, The Canadian Press | Posted 11.18.2014 | Canada Business

OTTAWA - A Conservative plan to allow Canadians to use income splitting as a tax-saving measure will be just one more example of the federal governmen...

Canadians Pay A Lot In Taxes, Fraser Institute Reminds Us

CP | Alexandra Bosanac, The Canadian Press | Posted 10.12.2014 | Canada Business

VANCOUVER - A new study says the average Canadian family was spending more on taxes than on food, shelter and clothing combined.The Fraser Institute s...

54,000 Canadians Snared By TFSA Rule

CP | Dean Beeby, The Canadian Press | Posted 10.11.2014 | Canada Business

OTTAWA - A tricky rule keeps tripping up thousands of Canadians who make withdrawals from their tax-free savings accounts, and replace the money too e...

Canada's Income Inequality Much Worse Than Advertised: Study

The Huffington Post Canada | Daniel Tencer | Posted 06.16.2014 | Canada Business

Canada’s income inequality may be much worse than statistics suggest, because Canada’s biggest earners are hiding their actual incomes by incorpor...

Surprise! Your Taxes Have Gone Up

The Huffington Post Canada | Daniel Tencer | Posted 06.10.2014 | Canada Business

Tax Freedom Day for the average Canadian family fell on June 9 this year, one day later than last, as Canadians saw broad-based — though relatively ...

Good News About Harper's 'iPod Tax'

The Huffington Post Canada | Posted 06.04.2014 | Canada Business

The so-called “iPod tax” that the Harper government (possibly unwittingly) introduced in the 2013 budget has been removed. Critics slammed the ...

Your Taxes Are Lower .. Thanks To Deficits

CP | Julian Beltrame, The Canadian Press | Posted 07.27.2014 | Canada Business

OTTAWA - Canada's budget watchdog says Canadians are paying Ottawa about $30 billion less this year — or a little less than $1,000 per person — du...

Do I Really, Really Have to File a Tax Return? (Yes)

Cleo Hamel | Posted 06.15.2014 | Canada Business
Cleo Hamel

There's denial: I don't really have to file a tax return on time, do I? The answer, for the vast majority of Canadians, is: Yes. And those who aren't required to file a return are missing out on cash and other benefits.

OECD Has Good News, Bad News About Canadians' Taxes

The Huffington Post Canada | Daniel Tencer | Posted 04.12.2014 | Canada Business

With this year's tax deadline approaching rapidly, many people's thoughts are turning to the shell-shocking amount of money the government routinely t...

What Canadians Think Of Tories' Income-Splitting Plan

The Huffington Post Canada | Posted 03.24.2014 | Canada Business

Despite criticisms that the plan would disproportionately favour wealthy households, Canadians largely support the Tories’ plan to allow income-spli...

Canadian Outside Canada? You May Have Tax Problems

CP | Ross Marowits, The Canadian Press | Posted 05.20.2014 | Canada Business

MONTREAL - Globalization is luring Canadians every year to work, travel or retire in low- or tax-free countries with the mistaken belief that they can...

How to Cure the Holiday Financial Hangover

Sarah Twomey | Posted 04.21.2014 | Canada Business
Sarah Twomey

Have you noticed that every holiday season, the pressure builds as everyone rushes around buying too much stuff before the Big Day? Then our festive bubble bursts just after New Year's when they announce how much new debt everyone has incurred. And then just as suddenly, the talk turns to RSPs and taxes. The collective anxiety is enough to give everyone a massive ulcer.

Does Flaherty Care About Tax Fairness?

Dennis Howlett | Posted 04.14.2014 | Canada Politics
Dennis Howlett

A few small tax perks were closed this budget time around. But the revenue resulting from tweaking non-resident trusts and a handful of other insider loopholes are estimated at only $50 to $80 million in 2015-16. It makes one wonder if Jim Flaherty is committed to the business of fair taxation.

Look How Much Better Corporations Have It On Taxes

The Huffington Post Canada | Daniel Tencer | Posted 01.30.2014 | Canada Business

“Corporate Tax Freedom Day” fell on January 29 this year, says a report from the Canadian Labour Congress (CLC). That’s more than five months be...

U.S. Tax Law Snares Unsuspecting Canadians

CBC | Posted 03.15.2014 | Canada Business

A Calgary woman's developmentally disabled son is caught in a U.S. tax quagmire that she fears may cost him the money she spent years setting asi...

Ottawa Sees 'Staggering Losses' From Crazy Income Tax 'Theory'

The Huffington Post Canada | Posted 01.25.2014 | Canada Business

If you come across claims that you don’t have to pay income taxes in Canada because you’re a “natural person,” you’d be well advised to igno...

Richest Canadians See Shrinking Tax Burden

The Huffington Post Canada | Posted 01.25.2014 | Canada Business

Canada’s wealthiest people are paying a shrinking amount of the country’s total tax burden, according to an analysis of new StatsCan data. The ...