Tax Refund Scams

One of my clients forwarded me an email from Canada Revenue Agency this morning.  It said she was entitled to a refund.  If you get one of these emails, delete it immediately.  Do not click where it says to access the refund form. Canada Revenue Agency never corresponds with taxpayers by email. Here is what … Read more

I’m a mean mom, just ask my kids, or “How I taught my kids to save for post-secondary education”

My husband Brook wanted to be an electrical engineer.  We met as he was heading off to Ottawa University.  Unfortunately with little money saved and parents unable to help, he had to leave at Christmas time due to lack of funds.  He ended up going on to college and graduated an engineer technologist. Fast forward … Read more

Sharing the wealth

Each year after April has passed, I make a donation to a non-profit organization of a portion of the tax season profits.  This year in honour of our new puppy Kody, that donation is going to the Moosonee Puppy Rescue, the group that rescued Kody and his mom and brothers from Attawapiskat. Sharron and Paul Purdy … Read more

Paying for University or College

With my son Brett ready to graduate from Ryerson and Kevan off to Queen’s in the fall, I’m frequently asked by clients how much it costs, and what is the best way to save.  I tell them the first step is RESP’s (Registered Education Savings Plans).  You need to start as soon as you child … Read more

Crunch Time – Have you filed yet?

April 30th is approaching in just over a week (or 9 days if you are counting like I am!).  Have you filed your income tax return yet? Not sure if you have to file, check out this link on the CRA website for reasons why you should file: What happens if you don’t file: – if … Read more

2013 Federal Budget

Finance Minister Jim Flaherty presented the 2013 Federal Budget today.  Jobs, Growth and Long-Term Prosperity the Top Priority of Canada’s Economic Action Plan 2013 Connecting Canadians With Available Jobs by equipping them with the skills and training they require to obtain  high-quality, well-paying jobs. Helping Manufacturers and Businesses Succeed in the Global Economy by enhancing … Read more

Are you an early tax filer?

My sister Anita is an early filer.  She likes to get her return completed and efiled before I get crazy busy with client returns.  A couple of weeks ago on a Sunday, she dropped by with all her information and we got the return complete, forms signed and efiled.  A week later when I checked … Read more

RRSP Deadline – March 1, 2013

March 1, 2013 RRSP Deadline Deadline for contributing to your Registered Retirement Savings Plan (RRSP) for the 2012 tax filing year. To find your RRSP contribution room: – Check your 2011 Notice of Assessment – Go online to the Canada Revenue Agency website to get the amount. You can phone TIPS line Or if … Read more

Healthy Homes Renovation Tax Credit

As a senior 65 years or older in Ontario, you could qualify for a tax credit to help with the cost of making your home safer and more accessible. The Healthy Homes Renovation Tax Credit is a permanent, refundable personal income tax credit for seniors and family members who live with them. If you qualify, … Read more

Mandatory WSIB for the construction industry in Ontario

The Ontario government has changed the law to expand coverage in the construction sector.  The new rules began on January 1, 2013. WSIB coverage is mandatory for the following people who carry on a business in construction: independent operators, sole proprietors, partners in partnerships and executive officers in corporations. For more information and an online … Read more