Tax

August 9, 2022

Increase to the Old Age Security pension for seniors aged 75 years and older begins next week

From: Employment and Social Development Canada News release July 21, 2022              Gatineau, Quebec              Employment and […]
August 6, 2022

If you owe the CRA money, pay up as soon as possible because the prescribed rate is rising again

Jamie Golombek: Here’s what you should be doing in anticipation of the looming interest rate increase Interest rates continue to rise. As a result, this week […]
August 6, 2022

Canada’s Tax Authority Has Been On A Multi-Billion Dollar Real Estate Crackdown

Canadian real estate owners are stuck paying a buttload in penalties after trying to avoid taxes owed. New data from the Canada Revenue Agency (CRA) shows their crackdown […]
June 24, 2022

Taxpayer hit with a TFSA over contribution penalty takes the CRA to court

Jamie Golombek: CRA can cancel penalty if it determines overcontribution a ‘reasonable error,’ withdrawn ‘without delay’ Despite the flexibility of the tax-free savings account (TFSA), from […]
June 4, 2022

Cash may be king, but it can cause headaches if the taxman denies your claims

Jamie Golombek: With no records, the burden of proof is certainly higher as this ‘independent spirit’ from PEI found out It’s often said that cash is […]
May 26, 2022

The top reasons why the CRA may review or audit tax returns

Are you a professional financial advisor? Register for Globe Advisor and then sign up for the new weekly newsletter on our newsletter sign-up page. Get exclusive investment industry news […]
May 26, 2022

The case of the taxpayer who was dinged with a taxable benefit for taking a business trip

Almost four in 10 mortgage holders are going to receive a crash course in the economics of rising interest rates. A Calgary ‘land flipper’ was handed […]
May 18, 2022

Tax Tips and Traps 138, 2022 – 2nd Quarter

Tax Tidbits Some quick points to consider… The luxury tax affecting new vehicles and aircraft retailing for more than $100,000 and new boats over $250,000 has […]
April 25, 2022

Who should worry about the wave of rate increases this year, who shouldn’t and what every stressed-out borrower should do right now

Almost four in 10 mortgage holders are going to receive a crash course in the economics of rising interest rates. A Calgary ‘land flipper’ was handed […]