The CERB and Income Tax

The Federal government recently announced the CERB, Canada Emergency Response Benefit, to provide income assistance to Canadians during this unprecedented time. Unlike your regular paycheque though, income tax will not be withheld by the government. What does this mean? A year from now, when you file your 2020 income tax return you will owe income […]

Did You Know You Can Claim Expenses For Your Support Animal?

Did you know that CRA has made changes to the medical expense tax credit to allow taxpayers to claim certain expenses for a support animal   For taxpayers who require specialized training for an animal, to help them cope with an impairment, the expense can be claimed as a medical expense. Currently, the following impairments […]

2019 TAX FILING DEADLINE AND WHAT YOU NEED TO KNOW

Posted by Enoch Omololu | Updated on Apr 24, 2019  The 2019 tax filing season will soon be here and if last years timeline is anything to go by, it will kick off around the third week of February 2019. The tax-filing deadline for most Canadians (for the 2018 tax year) is on April 30, 2019. For those […]

Simple Ways To Reduce Your Taxes and Grow Your Investments

  In these challenging economic times and with volatile markets everywhere it can be hard to know where to turn for sound financial advice. At Simple Ways To Reduce Your Taxes And Grow Your Investments, Sharon Numerow and Fasial Karmali will break down how easy it can be for anyone to take control of their […]

The Mysticism of Income Tax Refunds

The Mysticism of Income Tax Refunds   Every taxpayer hopes for a tax refund. We explain to our clients that an income tax refund most often,  is simply a return of your own money. For employees, your employer is obligated to remit income tax to CRA from each and every paycheque. Employers must follow payroll tables […]

Overcontributing To Your RRSP Can Be An Expensive Mistake

Overcontributing To Your RRSP Can Be An Expensive Mistake     An RRSP is one of the best investment tools that many Canadians use to save for their retirement. Saving  for your retirement also allows for a deduction on your tax return that provides you with tax savings. There are strict rules surrounding the RRSP contribution […]