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Claiming Working from Home Expenses
January 2024 Update: The rules for claiming home office expenses have reverted back to pre-pandemic rules. Claiming home office expenses was a temporary measure and it ended for the 2022 tax year. For your 2022 personal tax filing, the Canada Revenue Agency has two
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The Doctor’s Financial Lifecycle Part 1: Medical Residency
While retirement might seem light years away, it isn’t too soon to start thinking about financial planning for your future. This article should serve as a starter kit on how you might want to save and protect some of your hard-earned
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The Doctor’s Financial Lifecycle Part 2: Transitioning From Salaried to Self-Employed
Becoming a doctor is no easy feat. We can tell you a few things about the business side of your practice and help get you on the road to financial security. We can help you navigate the tax issues that distinguish the salaried resident from the self-employed
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Five End-of-Year Tax Planning Tips
The end of the year is rapidly approaching, which commonly brings about a time when business owners reflect on taxes. There are a few considerations that owners can contemplate to help maximize tax efficiency. Below are some immediate things you can contemplate and
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1% Tax on Vacant and Underused Housing Approved for 2022
Earlier this summer, the government’s Underused Housing Tax Act (UHTA) received Royal Assent. The Act is retroactive to January 1, 2022 and will impact 2022 tax filings for many registered owners of properties that are considered to be vacant or underused. What Types
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New Luxury Tax Coming into Force on Planes, Boats & Automobiles
Starting September 1st, 2022, a new luxury tax will be applied to the purchase of recreational vehicles and aircraft priced at $100,000 or more, and vessels priced at $250,00 or
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