Tax saving tips - Articles about personal and business taxes

Income Splitting with Minor Kids

Splitting Income with Minor Kids to Save Taxes

One way to reduce your taxes is to split income with your family. This is one of the popular tax planning strategy. Under this strategy, you hire your children and pay them salary which is deductible to your […]

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EMPLOYMENT EXPENSES

Tax Planning

Where you earn income from employment and are required by the terms of your employment to incur certain expenses, you might be able to claim a deduction in respect of these expenses on your tax return. Such expenses might include sales expenses for commission […]

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Tax Liabilities of New Immigrants in Canada

Are you a newcomer to Canada?

You become a resident of Canada for income tax purposes when you establish significant residential ties in Canada. You usually establish these ties on the date you arrive in Canada.

Newcomers to Canada who have established […]

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Foreign Income Verification Statement (Form T1135)

March 7, 2014
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Canada Revenue Agency announced a change to form T1135 Foreign Income Verification Statement for taxation years ending after June 30, 2013. The purpose of this move is to crack down on international tax evasion and aggressive tax avoidance as laid out in the 2013 Economic Action Plan. Individuals […]

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