CRA updates guidance on underused housing tax | Advisor.ca
Mar 12, 2024 · The UHT is an annual 1% tax on the ownership of vacant or underused housing in Canada, effective in 2022 and subsequent years. The CRA twice extended the deadline to file …
What the disability tax credit means for eligible Canadians and …
May 14, 2021 · Child disability benefit (CDB) — A tax-free monthly payment for parents of a child under 18 who qualifies for the DTC and who also qualifies for the Canada child benefit. The …
How much should an executor be paid? | Advisor.ca
Oct 4, 2021 · In Ontario, courts allow executors to charge up to 2.5% on both the amounts received and paid out of an estate, resulting in an effective rate of 5%. In B.C., by statute, an …
Employees working from home by choice can claim expenses, CRA …
Feb 5, 2024 · The temporary “flat rate” method, which allowed Canadians working from home due to Covid to claim up to $400 in employment expenses in 2020 and up to $500 in 2021 and …
TFSA limit rises to $7,000 for 2024, officially | Advisor.ca
Nov 23, 2023 · 2 min read. AdobeStock / JHVEPhoto. The TFSA contribution limit for 2024 has been officially released. That limit is $7,000, up from $6,500 in 2023 and $6,000 in 2022. “This …
How to unlock a life income fund | Advisor.ca
Jun 11, 2020 · Transfer to RRSP and RRIF. To RRIF only. Yes, and cash can then be withdrawn if desired. Note: The remaining provinces and territories either do not have their own pension …
The clearance certificate: what it is, and why it matters
Feb 25, 2019 · Michele Allinotte, founder of Allinotte Law Office in Cornwall, Ont., says the importance of the clearance certificate can be summarized in three words: peace of mind. “In …
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Inflation to trigger another rise in TFSA limit | Advisor.ca
Oct 17, 2023 · The annual TFSA dollar limit is fixed at a base amount of $5,000, indexed to inflation for each year after 2009, and rounded to the nearest $500. According to Provost, the …
Transferring a 401(k) or IRA to Canada | Advisor.ca
Nov 26, 2020 · The short answer is no. Both the federal Income Tax Act (ITA) and the Canada-U.S. tax treaty provide for continued tax deferral of U.S.-based retirement plans for …