Income splitting is not an easy strategy to accomplish in Canada. We live in a tax system where every individual must report their personal income and pay tax individually.
Income splitting is a… [more]
Though many are aware that the disability tax credit is available for those who suffer from a “severe or prolonged physical or mental impairment,” many taxpayers may not fully appreciate the scope… [more]
Recently I wrote a piece on how to handle an inheritance and got a few questions from RetireHappy readers. One of the areas greatly misunderstood in Canada is issues around taxation when you die and… [more]
I often come across investors who are reluctant to sell an investment because of the associated capital gains tax payable. Whether it’s a stock or mutual fund they’ve owned for ages, a rental prop… [more]
Every year at this time, we start to prepare for summer and get ready to celebrate Canada Day. Maybe there's another day to celebrate this time of year. Tax Freedom Day happened on June 7th this … [more]