Practical tax guidance, clearly explained.
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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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Saving & retirement 2 min
The dishwasher was fixed. My December transfer could wait.
Étienne has the money to replace a TFSA withdrawal, but the calendar matters as much as the bank balance. A simple same-year contribution example.
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Jobs & employment 2 min
Lucas keeps the tips that never reach his T4 in a notebook
Track direct tips, compare employer-reported amounts and avoid both missing income and counting the same tips twice.
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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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Two jobs, two paycheques, one tax return
Why two employers can each deduct tax correctly while your combined income still produces a balance owing.
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The dues receipt that repeats your T4
Compare your T4 and membership receipt so eligible annual dues are claimed once and excluded fees stay out.
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