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Taxation for Non-Resident Foreig

When a company sends its employee abroad it is generally expected to bear the employee’s foreign tax payments. Companies sending employees to work for them in Canada can avail of certain tax exemptions available to the employees. A non-resident foreign

Saving Big on Medical Expense Ta

Medical Expense Tax Credit applies to any medical related expense incurred for treating a disease or a medical condition. The Canadian Revenue Association (CRA) has identified a wide range of possible medical expenses that are considered eligible for tax deduction

Greater Transparency Advocated b

The Canadian Securities Administration (CSA) in its effort to bring about transparency in compensations collected for financial advices have rolled out the 2nd phase of its new rules called the Client Relationship Model (CRM). The new rules, that will be

Tax Saving Strategies for the Se

There are various ways in which a self-employed person in Canada can save on taxes. A careful consideration of available options could help save you a chunk of cash. Home-Office Deductions As a self-employed Canadian citizen, when you use some

Escaping The Estate Tax Trap For

The IRS (Internal Revenue Service) is set to change the Estate Tax portability regulations. A request has been made to the IRS by the American Institute of CPAs that the present rules be changed and made more “family friendly”. One

Falling Alberta Real Estate Mark

Some of the top mortgage insurers of Canada are watching the failing real estate market situation with increased worry and alertness. They are planning to introduce tougher policy changes to counter the increase in mortgage defaults. Mortgage defaults were rarely

Tax Deductions to be Considered

When you are about to retire, the last thing you want to be concerned about is the payment of your tax. You may have done everything right, saving the right amount in the right place, to enjoy that retired life.

How Not to Get Noticed By the CR

Getting an “intent to audit” letter from the CRA is not something any taxpayer would be looking forward to. But there are lot of ways by which we can easily be noticed by the CRA if we are not careful

Penalties for Not Filing Taxes o

If you have only missed the filing date and have not defaulted on payments, or fudged your income then you don’t need to worry about any penalties. Even if you have missed your deadline you can still file it online

Saving for Your Future While Sti

Most Americans are bogged down with one or the other loan or debt payment. Unchecked borrowing, unforeseen emergency expenses, unavoidable payments, etc , would lead to debt accumulation and often times it is so high that they barely manage to