25 Apr 2013

What are you doing with your income-tax return? That is, if you’re getting one. Some of us sad sacks aren’t getting a tasty little treat in the form of a money back from the government. I have many a fond memory of blowing the couple hundred (sometimes a couple thousand) on silly stuff or things […]

18 Apr 2013

Buying your first home is a momentous occasion in your life. First, you have to save for the down payment. Next, you have to qualify for a mortgage. Then you have to find the place of your dreams, within your budget, and go through all the red tape of closing the deal. It can be […]

16 Apr 2013

We are officially in crunch time! You now have exactly two weeks to get your taxes done. The deadline bell strikes at 11:59 p.m. on April 30. Small business owners have different deadlines, of course. Incorporated owners go by their fiscal year, while sole proprietors have until June 15, but any taxes they owe will […]

11 Apr 2013

It’s one little box on the first page of your T-1 income tax return. Don’t forget to tick it off. The little box allows you to apply for the GST/HST credit. Of course, in Alberta, we don’t have provincial or harmonized sales tax so only the GST will apply. The GST credit is a little financial […]

03 Apr 2013

Canadians are living longer than ever  before. And as our population ages, some of our senior members need extra care. They may need to live with their children for support in their day-to-day living. Starting with the 2012 tax year, the Canada Revenue Agency introduced the Family Caregiver Amount, a non-refundable credit on an amount […]

06 Mar 2013

Rock ‘n’ roll, baby! What? Yes, it’s tax season. But that’s no reason to sing the blues. You do know musicians and other artists benefit with select tax benefits, right? Yes, you certainly do. According to the Canada Revenue Agency, you can claim your musical instrument if you are a self-employed musician or if your […]

01 Mar 2013

It’s deadline day for RRSPs. What does that even mean? An RRSP is a retirement savings plan, registered with the Government of Canada and to which you and your spouse or common-law partner may contribute. As long as you keep the funds in your plan, the income you earn on your investment is tax-exempt, until […]