Tax Preparation

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Crypto and the CRA: What You’re Required to Report (and What Happens If You Don’t)

If you bought, sold, or earned cryptocurrency at any point in the past few years, you have tax obligations with the Canada Revenue Agency — whether you realized it or not. This is one of the most common misconceptions we encounter in practice: the belief that cryptocurrency transactions are either anonymous, exempt from tax, or […]
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Cashing In on Your RESP: How to Withdraw Education Savings the Smart Way

If you’ve spent years diligently contributing to a Registered Education Savings Plan, this fall might be the moment it all pays off — your child heads off to college or university, and it’s finally time to pull money out. But here’s something that surprises a lot of parents: the way you withdraw from an RESP matters just […]
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Selling Your Home in Canada: The Tax Rules Every Homeowner Should Know

For most Canadians, the family home is the single largest asset they’ll ever own — and one of the few that can be sold at a substantial profit without paying tax on the gain. That’s thanks to the principal residence exemption, one of the most valuable provisions in our tax system. But “tax-free” doesn’t mean […]
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New to Canada? What Every Newcomer Needs to Know About Their First Tax Return

Arriving in a new country brings a long list of things to figure out — housing, banking, a SIN, maybe a new job. Taxes usually aren’t top of mind, and understandably so. But your first Canadian tax return is more important than most newcomers realize, and it works differently from every return you’ll file afterward. […]
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Salary vs. Dividends: How Incorporated Business Owners Should Pay Themselves

If you own a Canadian corporation, one decision comes back around every single year: how do you actually get money out of the company and into your own hands? Salary? Dividends? Some mix of both? It’s the question I’m asked more than any other by incorporated clients, and it’s also the one most often answered […]
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GST/HST for Canadian Businesses: When You Have to Register, and How Filing Actually Works

For most small business owners, GST/HST is the first piece of the tax system they have to deal with on a recurring basis — long before corporate tax planning or year-end financial statements enter the picture. And yet it’s also one of the most commonly misunderstood. As a CPA, the two questions I’m asked most […]
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