At Calgary’s Choice Tax Services, we always recommend filing your income tax return on time. Canada Revenue Agency are in the business “of taking money” and they want the money they are owed in a timely fashion. As most taxpayers are aware, there is no penalty for filing your return late if you are receiving […]
by Jamie Golombek, October 25, 2019 Woman who used swaps to run TFSA up to $200K from $5K in one year suffers triple loss in court appeal. by Jamie Golombek, October 25, 2019 Most Canadians use TFSAs as intended — as general-purpose savings or investment vehicles to grow funds, tax-free, for future use. And, unlike […]
Did you know that CRA has made changes to the medical expense tax credit to allow taxpayers to claim certain expenses for a support animal For taxpayers who require specialized training for an animal, to help them cope with an impairment, the expense can be claimed as a medical expense. Currently, the following impairments […]
An RRSP or a TFSA? Where should you contribute your money? With the RRSP contribution deadline imminent, do you know where to contribute your money? Whether to contribute to an RRSP or TFSA is a decision that many taxpayers are not sure how to resolve. We explain to our clients that an RRSP is […]
In these challenging economic times and with volatile markets everywhere it can be hard to know where to turn for sound financial advice. At Simple Ways To Reduce Your Taxes And Grow Your Investments, Sharon Numerow and Fasial Karmali will break down how easy it can be for anyone to take control of their […]
Should I Invest In A Rental Property? Some taxpayers believe that investing in a rental property is a better alternative to mainstream investing. If you are considering investing in a rental property there are some pros and cons to keep in mind. In most situations you will be required to claim the rental income earned. One […]
The Mysticism of Income Tax Refunds Every taxpayer hopes for a tax refund. We explain to our clients that an income tax refund most often, is simply a return of your own money. For employees, your employer is obligated to remit income tax to CRA from each and every paycheque. Employers must follow payroll tables […]
WHY IS IT TAKING SO LONG TO GET MY REFUND? Many taxpayers make plans for their tax refunds long before the money is received. Most of us anticipate that our refunds will typically be deposited into our bank accounts 2-3 weeks after our return is efiled. For some taxpayers filing initiates a nasty […]
The Canada Revenue Agency (CRA) is Reviewing Your Tax Return, Now What? You filed your tax return and are relieved that the initial pain is over. Now, months later you have received a letter, that you can barely decipher, asking for supporting documentation. Now what? Firstly, keep calm. CRA inquires about the returns of over […]
Did Your B.C. Property Just Get a Whole Lot More Expensive? Many Alberta residents own B.C. property, dreaming of the day when they can retire to nicer weather and a more relaxed environment. Some spend summers in B.C. with friends and family. Well the cost to do so may become much more expensive. […]
© 2023 Calgary’s Choice Tax Service. All Rights Reserved.
