Practical tax guidance, clearly explained.
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Working for yourself 2 min
One bill, two uses
Document commercial use, then apply the rule for that type of purchase. The income-tax percentage is not always the ITC percentage.
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Family & everyday life 2 min
The daycare receipt is in Maya's name. Who claims it?
Check the lower-income rule, eligible care and receipts before deciding which return includes child care expenses.
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New to Canada 2 min
Before leaving Canada, save the records you cannot recreate easily
Prepare a departure file covering residential ties, dated asset values, income periods and Canadian account notifications.
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Saving & retirement 2 min
An RDSP starts with eligibility, not a deposit
Prepare DTC approval and identity information, check age limits and ask about grants and bonds before opening a disability savings plan.
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Saving & retirement 2 min
A TFSA excess can cost tax even if it lasts only a few days
Find the highest excess in each affected month, stop further excess deposits and check the separate TFSA return.
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Family & everyday life 3 min
Nora waits for the insurance statement before adding the receipts
Match eligible Canadian fertility expenses with the Ontario medical claim, deduct reimbursements and choose one partner to claim.
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