Practical tax guidance, clearly explained.
Local stories. Useful answers for your taxes, your work and everyday life.
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Saving & retirement 2 min
A large withdrawal can affect more than the income-tax bill
Match the annual OAS recovery calculation and later monthly deductions to the correct income year.
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Saving & retirement 2 min
One RESP payment, two kinds of money
Identify the taxable education assistance payment separately from returned contributions when using an RESP for school.
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Saving & retirement 2 min
Retirement lowered your income. Tell Service Canada.
A retirement-related income drop may support a current-year income estimate instead of the usual prior-year basis.
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Family & everyday life 3 min
Medical receipts do not have to follow January to December
Compare eligible paid expenses across a 12-month period ending in the tax year, with reimbursements and prior claims removed.
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Saving & retirement 2 min
Moving an FHSA balance to an RRSP
A qualifying direct FHSA transfer can preserve tax deferral without using RRSP room; a cash withdrawal and new deposit are different.
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Homes & rentals 2 min
A booking confirmation is not a rental permit
Keep permit history with your booking records because local compliance can affect federal expense deductions.
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