Canadian GST/HST is applied on the final sale of a product or service in Canada, which is called Sales Tax. Generally speaking, if you provide taxable goods and services in Canada and your total taxable revenues exceed $30,000 in any single...
Read MoreCanadians: tax changes for 2020
There are some tax changes which be taking effect on January 1, 2020 you need to know. Rates and Limits As expected, several tax rates and limits are changing in 2020. Federal and provincial income tax brackets are increasing to keep up with...
Read MoreCRA Changing Authorization Process on February 10, 2020
The Canada Revenue Agency is introducing new digital processes in February 2020 to simplify the way practitioners request online authorizations. Changes include: A new e-authorization process for online access to individual tax accounts. As a...
Read MoreRRSPs and RRIFs
A RRSP (Registered Retirement Saving Plan) is a retirement savings and investing vehicle in for taxpayers Canada. Contributions made to the RRSP account will not be taxed until the funds are withdrawn. RRSPs have two main advantages. First...
Read MoreCanadian Tax: how to resolve RRSP Over-Contributions
If you (or your employer for pooled registered pension plan (PRPP) purposes) contribute more to your RRSP, PRPP or SPP, or your spouse’s or common-law partner’s RRSP or SPP than your RRSP deduction limit allows, you will have an...
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