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[ad_1] RESP contributions and withdrawals Registered education savings plans (RESPs) are used to save for a child’s post-secondary education. Contributing to an RESP can give you...
[ad_1] According to the Canada Revenue Agency (CRA): “To make this election, attach a letter signed by you to your income tax and benefit return of...
[ad_1] There are a number of expenses that can be claimed to reduce the capital gain on your cottage, Louise. Capital expenses are an example. The...
[ad_1] Many non-financial assets depreciate in value. Cars, furniture and other such assets tend to be worth less over time, and they are generally not subject...
[ad_1] It sounds like you are aware that you can carry back capital losses, Ramesh. If you have a net capital loss on your 2023 tax...
[ad_1] 1. Rate reset preferred shares These became popular following the financial crisis in 2008/2009 to entice investors to buy preferred shares despite low interest rates...
[ad_1] Primary residences vs. secondary properties The tax treatment of real estate in Canada depends on its use. The home you live in—your primary residence—is normally...