Tax Advice

Canada Revenue Agency National Headquarters sign
Canada Revenue Agency (CRA) Strike
On Wednesday April 19, 2023 the Public Service Alliance of Canada declared a general strike. Bargaining groups including the 39,000 represented employees of the Canada Revenue Agency (CRA), are on strike. The federal government is still in negotiations with the groups. What a CRA strike means At this point, there has been no indication this...
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When can you claim a tax deduction on interest payments?
Paying interest on borrowed funds is an expectation for individuals and businesses alike. Interest payments can add up, but they can also be deductible on your tax return, helping to reduce your tax liability. However, not all interest payments are deductible. There are four specific criteria that must be met in order to claim a...
Person driving vehicle with two hands on steering wheel looking at traffic ahead
Understanding personal & business vehicle use
The distinction between personal and business vehicle use can be confusing at times. Whether you’re self-employed or an employee of a business, it’s crucial to understand the distinction between the two for taxation and compliance purposes. In this article we’ll attempt to provide some clarity as to what is considered “personal use” and what is...
man doing home renovations
Saskatchewan’s Home Renovation Tax Credit
The home renovation tax credit is available for Saskatchewan residents making renovations to their principal residence in 2022. (It was also available for expenses incurred between October 1, 2020 and December 31, 2021, so if you forgot, it’s not too late to adjust your 2021 return!) The 2022 credit is available for expenses incurred above...
2023 Federal Budget Synopsis
Budget Announcement: The 2023 Federal Budget released March 28th was relatively tame compared to the big-spending COVID relief measures of the last few years. There were no widely applicable tax increases or savings to most Canadians. The Finance Minister did her best to walk a fine line of providing support to lower income individuals and...
saskatchewan legislative building
2023 Saskatchewan Budget commentary
On March 22, 2023, Saskatchewan Minister of Finance Donna Harpauer released 2023 Saskatchewan Provincial Budget. A budget surplus is forecasted after increased spending. No significant direct business or tax announcements. Provincial Budget Announcement The 2023 Saskatchewan Budget, titled Growth that Works for Everyone, includes increased funding for health care, education, infrastructure, and social programs. There...
Shared-Custody Parents and the Canada Child Benefit
When parents separate and divorce, typically they are able to agree on an arrangement to share custody of their children. A shared custody agreement is often to the benefit of all involved, especially the children. A shared custody agreement usually makes the most sense from a human perspective, it can cause legal, financial, and tax...
Gold coins stacked in front of brass alarm clock with TAX sticky on face of it
Underused Housing Tax – key information & filing deadlines
Announced in the 2021 Federal Budget, the Underused Housing Tax (UHT) is a tax designed to target underused properties owned by non-residents or non-Canadians. However, many Canadian individuals, corporations, partnerships and trusts will have to file a UHT return in order to avoid significant penalties.  How does the Underused Housing Tax (UHT) work? The expressed...
2023 CRA Instalment Reminder: What are my options?
The early months of the new calendar year can feel like a never-ending series of bills and other financial obligations, especially tax-related financial obligations. Canadians must also contend with an instalment reminder received from the Canada Revenue Agency (CRA) around the middle of February. While many of those who receive such reminders are already familiar...
Parliament Hill Canada
Fall Economic Update released
The Department of Finance released its Fall Economic Update today and was largely used to promote the positive trajectory of many financial metrics in Canada, while also warning of a potential coming recession. There were few new announcements, and plenty of references to announcements made in the 2022 Budget that have not yet been finalized,...