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Canada Review Agency’s waiver

In a major relief to many taxpayers, Canada Review Agency (CRA) may consider to waive penalties and interests on defaulting taxpayers if such non-compliance has risen out of extraordinary circumstances, financial hardships, actions of CRA or other such circumstances. Under

Ways to Pay Less Capital Gains T

20th January: Do you want to know how to reduce or simply avoid paying capital gains tax? Well, you can do so by following the below mentioned strategies in this article. So, let us see how can we cut or

Reverse Mortgage – Boon fo

Reverse Mortgaging allows those who are 62 years or older to convert their home equity into cash without having to pay any additional amount. This enables the aged to pay for their healthcare and other expenses, get a better retirement

How Splitting Income with Spouse

Canada has a progressive tax system, thus the more you earn, the more tax you pay. To avoid paying higher rate of tax on your earnings, you can split income and shift some of your income to your wife if

Is Growing Wealth Gap An Indicat

The latest global wealth report by Credit Suisse rang bells for the investors and has an alert for the employees across the world. As per the wealth gap report, top 1% people of the world in terms of wealth own

Tax Free Salary Allied Deduction

Being a Canadian employee, you must have received a T4 slip from your employer. The T4 slip displays the remuneration you received from the employer and the amount of tax that is deducted from your salary. Do not be surprised

What’s the real story behind l

A recent study indicates that the number of people claiming for Employment Insurance has gone down. Experts in the field are making an effort to give benefit of doubt to both the facts: either the employment rate has improved in

Are you thinking to adjust your

Much after you have filed your returns for the year, you realize that there were a few expenses that you forgot to include your return. Now, you are having sleepless nights because you don’t want to miss upon the advantages.

Tax evasion: U.S. reports yet an

FBI and U.S. Attorney catch upon yet another case of money laundering and tax evasion by some Canadians. The Background The case involves two Canadian Citizens who played a major role in laundering money offshore amounting to a sum of

Employment Insurance Premiums to

Job growth in the country is quite discouraging, and therefore the Government looks for ways to promote the same. Only very recently, Finance Minister has announced to reduce the premiums on Employment Insurance so that small businesses could feel a