Personal Tax


Tips and Traps of Claiming Tax-Deductible Expenses by Employees Earning a Salary


Employees earning a salary may be able to claim some employment-related expenses if their employment conditions require them to pay for such expenses and in most of the situations is certified as such by the employer in CRA Form

Continue Reading
rental income

Tips of Deductions from Rental Property Income You Can Take at Tax Time

Income or loss derived from the rental of property inside and outside of Canada must be reported on your income tax return on a calendar-year basis. There are two types of expenses, namely, current expenses and capital expenses. You can …

Continue Reading
Tax Write-offs_Self Employed Individuals (1)

Tax write-offs available for self-employed individuals in Canada

Self-employed individuals here are taxpayers who operate unincorporated businesses, this may be sole proprietorship or partnership. Self-employment income usually derives from a commercial business or a professional service or a commission on sales. In all cases, they spend money to …

Continue Reading
RRSP Excess Contribution

How to Deal with RRSP Excess Contribution

RRSP excess contribution generally occurs when the amount of a taxpayer’s undeducted contributions exceeded his/her deduction limit by more than $2,000. Such excess contribution is taxed @ 1% per month on the unused contribution. To be specific, the excess contribution …

Continue Reading