Archive for May, 2018

Fixing a mistake in your tax return

Wednesday, May 30th, 2018

By the end of April 2018, more than 20 million individual income tax returns for the 2017 tax year will have been filed with the Canada Revenue Agency (CRA). And, inevitably, some of those returns will contain errors or omissions that must be corrected – last year the CRA received about 2 million requests for adjustment(s) to an already-filed return. (more…)

Posted: Wednesday, May 30th, 2018 | Categories: Tax Alerts.

Tax Planning – It Doesn’t Stop at 65: The RRSP/RRIF Withdrawal Trap for Seniors

Wednesday, May 16th, 2018

The minute you enter the workforce there is always someone out there, a friend, a loved one, a work colleague telling you that you have to plan for your retirement.  You don’t have a workplace pension to fall back on, so you contact your financial advisor and then your accountant and you do some tax planning so that you can maximize your funds available for retirement.

So, you work and work and work and contribute to your RRSP along the way in accordance with the plan your advisors have designed for you and finally that magic day comes – retirement and you say to yourself, now I can retire in peace and not have to worry about tax planning ever again.  (more…)

Posted: Wednesday, May 16th, 2018 | Categories: Commentary.

Claiming a deduction for summer child care costs

Tuesday, May 15th, 2018

The arrival of warmer weather signals both the start of spring and the approaching end of the school year. For many families, it also means the need to begin researching the availability of suitable child care or summer daytime or overnight camp arrangements for the summer months. 


Posted: Tuesday, May 15th, 2018 | Categories: Tax Alerts.

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