But the search for tax efficiency can get complicated High net worth investors are keen on tax efficiency in their investments. Understandably so, since taxes have a huge impact on investment returns. Mutual funds are sometimes seen as least tax efficient, because of...
Year-end strategies to cut your tax bill During the hectic holiday season, the last thing you want to think about is your tax bill for the year. But there are a few year-end tax tips that could save you a few bucks in tax come next April. Here are some of my...
It’s simply the single best (legal) way to beat the taxman If you don’t have a Tax-Free Savings Account (TFSA) yet, what’s holding you back? It’s quite possibly the best tax shelter now available to Canadians, and it will only get better over time. Almost everyone is...
Use RESPs and tax credits to offset high tuition costs Getting kids off to that first year of university or college is a big move in more ways than one. It’s exciting and stressful and emotional – and that’s just for the parents! As the universities like to remind us,...
It’s not all piney woods and gorgeous sunsets The cabin in the woods or cottage by the lake can make a great retreat from the big smoke. But with vacation properties in prime areas pushing a million bucks or more, buying one has become a major financial planning...
…And why a refund isn’t a good thing in the first place If you filed a tax return in April, by now, you’ll have received a Notice of Assessment from the Canada Revenue Agency. Sometimes it’s accompanied by a tax refund cheque. If it’s substantial, it might even feel...
Being frazzled, forgetful, and chronically chaotic is no excuse Sure, the government has given us an extra five days, until May 5, to procrastinate on filing our tax returns. That’s because their computer system was hacked (this is the Canadian government, remember,...
And some tax deductions too! Yes, I know, no one wants to think about taxes. But tax-filing deadline is April 30, and now is a great time to make sure you’re taking advantage of every single tax break you can get. Besides the exemption for the basic personal amount...
’Tis the season…for tips. Year-end is a great time for tax and investment tipsters. Trouble is, in the hustle and bustle of the holiday season, most of us either ignore or soon forget what we’ve heard. But there are, in fact, a few year-end investment and tax tips...
Your tax refund isn't a "gift" Have you received a “tax refund”? It’s around this time of year that taxpayers get Notices of Assessment from the CRA. Sometimes that means a cheque. Sometimes it means a nasty tax bill. So what will you do? Cash the cheque and blow it...