Tax

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Tax tips for the business owner

Canadians like to complain about high taxes and the CRA, but despite these grumblings, there are some legitimate tax-planning strategies and opportunities for business owners.

By Prashant Patel |November 1, 2010

4 min read

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Charitable giving: A win-win-win proposition

With recent improvements in the financial markets, your clients may be more inclined to open their hearts and their wallets for charitable giving. It’s a win-win-win proposition—the charity gets its needed funds and the donor wins twice: he satisfies his social conscience and reduces his tax bill. Fortunately, there are many ways to donate, and […]

By Gena Katz |November 1, 2010

3 min read

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Ultravision explained

Looking to shelter your client’s investment income? If so, you have plenty of options these days.

By Jason M. Pereira |November 1, 2010

6 min read

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Children’s Activity tax credit, a break for parents

Hockey season has started, and for now, my wife and I are still just observers. But with three boys under the age of six, future fall seasons promise to be much more hectic — and costly!

November 1, 2010

3 min read

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Funding Boomer retirements

Life goes by so fast. Believe it or not but the oldest of the Baby Boomers are set to turn 65 in 2011. This will trigger the beginning of a rising wave of retirements that will peak within the next two decades. This global trend towards retirement is even more significant in Canada where the […]

By Wilmot George |October 27, 2010

6 min read

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Immigrating can be taxing

There are a variety of income tax consequences associated with immigration to Canada. But with a little planning, tax savings can be had, both currently and in the future. On becoming a resident of Canada, an individual is deemed to have disposed and reacquired most capital property owned immediately prior to establishing residence for proceeds […]

By Gena Katz |October 8, 2010

3 min read

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An RESP strategy that works

In my last column, I wrote about the extraordinary unused potential of registered education savings programs (RESPs). I also discussed in general terms the importance of helping clients take advantage of federal and provincial grants and incentives to maximize tax sheltered savings for their children’s or grandchildren’s higher education. RESPs should appeal greatly to investors, […]

By Michelle Munro |October 1, 2010

5 min read

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A late T1135 can be costly

A full seven more cases have landed in Federal Court concerning the late filing of the much-maligned Form T1135 – the Foreign Income Verification Statement. I first wrote about this topic this past spring (“Don’t be late!”Advisor’s Edge Report, April 2010), but since then, taxpayers continue to get hit with severe penalties for not filing […]

By Jamie Golombek |October 1, 2010

5 min read

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A late T1135 can be costly

A full seven more cases have landed in Federal Court concerning the late filing of the much-maligned Form T1135 – the Foreign Income Verification Statement. I first wrote about this topic this past spring (“Pushing the tax deadline” Advisor’s Edge Report, April 2010), but since then, taxpayers continue to get hit with severe penalties for […]

October 1, 2010

5 min read

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Taxation of foreign investments

Editor’s note, Sept. 2018: This article was written in 2010 and many of the specifics may be outdated. This article, from 2017, is more updated. The strong loonie has many Canadians shopping for foreign investment opportunities. But Canadian residents are required to pay tax on their worldwide income. That is, income earned by a resident […]

By Michael Callahan |October 1, 2010

4 min read

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