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Family & everyday life 3 min
The school bag changes houses. What happens to the CCB?
Check the 40% to 60% shared-custody rule, update both CRA files and understand why the two parents can receive different amounts.
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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
Moving in together can change the CRA file before a wedding
Use the tax definition and effective date for marriage, common-law status or separation, and report the change on time.
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Homes & rentals 3 min
The home sale was exempt. It still belonged on the return.
Keep the closing documents and ownership history even when you expect the principal residence exemption to cover the gain.
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Working for yourself 2 min
A US-dollar invoice needs more than a dollar sign
Keep the invoice currency, conversion date, rate source, payment and fees visible. A worked example explains why the net deposit can be misleading.
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Filing & corrections 2 min
Changing the bank account CRA pays into
Use your CRA account or a participating financial institution, verify the bank details and keep the old account open through the first successful payment.
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