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Trusts are not just for those who are wealthy or for families who have a child with special needs who require the provision of a Henson trust.
Contrary to general belief, trusts can potentially be useful for a significant segment of the population.
A testamentary trust (one which is included in a will) is especially useful for [...]
The following is reproduced from the Canada Revenue Agency web site at: http://www.cra-arc.gc.ca/tax/nonresidents/trusts/types-e.html, dated 2005-05-05
A trust is either a Testamentary Trust or an Inter Vivos Trust. You need to know the type of trust, since different tax rules apply to different trusts. The following are different types of trusts:
Testamentary trust
A testamentary trust is a trust [...]
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Can’t Balance the Books?
If you are:
An independant consultant needing help with a services contract
Self-incorporated and needing help with taxes
Operating a home business
A Canadian ’snowbird’ and concerned about U.S. taxes
…your accounting problems might be too big to do-it-yourself.
We are in contact with tax and accounting advisors across the country who are more than ready to [...]
As many Canadians can attest, it’s not always what you earn that counts, it’s what you get to keep. This is especially true if you are currently retired or are planning to retire in the near future. To make the most of your retirement income, it makes sense to become familiar with the numerous tax [...]
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Everyone should pay their taxes, but nobody wants to pay more than they have to. Every year, many taxpayers overpay simply because they fail to claim all of the common deductions and credits they are entitled to. Before you submit your next return, check the following list. It represents the most frequently over-looked tax breaks [...]
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Everyone is worried about tax planning. Never mind that tax planning is a year round activity and that most of the best ideas are put into place throughout the year, the simple fact of that matter is that people put things off until they have no choice. What if you had a few thousand dollars [...]
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As most people are aware, the costs of post-secondary education continue to rise. However, there are tax breaks available which, if maximized, can help alleviate the situation somewhat. Here are a few to consider.
1. Credit for tuition and education amounts.
Students can claim a tax credit based on the actual tuition for the calendar year, plus [...]
The number one annoyance for many retirees is the amount of tax that they are required to pay on their retirement income. Aside from the fact that we live in Canada with its attendant problematic tax regime, there are a number of other reasons for this. Even though there are certain tax credits provided to [...]
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Today’s small business environment is full of challenges and stress. Can you earn sufficient profit to meet your personal and business needs? Can you beat the competition, and grow or maintain your market share? What about income and sales taxes? Often it seems that entrepreneurs and the Canada Revenue Agency are like oil and water.
One [...]
Employees and Incorporated Business Owners
If you are an employee, or are the owner / operator of an incorporated business, there is a simple way to receive a tax-free allowance for the use of your vehicle. You are entitled to receive up to 42 cents per kilometre for the first 5,000 kilometres of business travel and [...]
My husband died at the age of 59 may 24 2003
I was 57...I am 64 now
My income is 30,000
Have I ...
I was wondering my step aunty is POA for my dad and he has passed away is the POA responsible ...
After reading this, I was not too impressed with the way my mortgage renewal went! It so happens that ...
Having executed a will in accordance with all requirements what are the provisions for 'winding up ' the operation? Is ...
Correction to my posting I was under 35 years old (31 to be precise)
My husband passed away 28 years ago, I was under 25 at the time and was told I was not ...
Will I receive my old age pension if I move out of the country.
I also get CPP. 
I just sat reading most of the comments on CPP and OAP pensions. I find most of these very ...
Hi
I am getting 65 years and entitled for CPP and Old Age Security but my wife is only 59 years ...
My wife has never worked outside of the home. When she reaches 65 will she be entitled to OAS ...
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