Practical tax guidance, clearly explained.
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Family & everyday life 2 min
The parent paid tuition. The student still makes the transfer.
Complete the student's tuition calculation before transferring an eligible current-year amount to a family member.
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Family & everyday life 3 min
One transfer, two kinds of support
Separate child support from qualifying spousal support, reconcile actual payments and check arrears before completing the tax return.
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Working for yourself 3 min
Nabil checks the tax on what the workshop buys
Separate GST credits from QST refunds, check business use and spot the NR supplier rule before claiming tax on purchases.
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Working for yourself 2 min
The rolls of fabric still on my shelf
Camille counts the fabric and finished goods still waiting for buyers, then sees why a purchase is not always this year's cost of sales.
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New to Canada 2 min
The $100,000 foreign-property test is not an income exemption
Check the combined cost of specified foreign property and keep income reporting separate from the T1135 filing test.
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Saving & retirement 2 min
The RRIF minimum is a withdrawal rule, not a tax exemption
Check the opening value, age basis and payment schedule, then plan tax separately from the required withdrawal.
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