CRA Direct Deposit: Simplifying Your Tax Returns

April 10, 2017 Jelani Smith 0

Over the past few years, the Canadian Federal government have been encouraging taxpayers to receive government related payments through direct deposits. Government related payments includes tax refunds and GST/HST credits from the Canada Revenue Agency (CRA). Approximately 80% of government related payments are issued by direct deposits. If you haven’t opted to receive your government payments through direct deposit, I […]

The 5 Important RRSP Rules

January 1, 2017 Jelani Smith 0

  January to the end of February is known as the ‘RRSP’ season. There is always a huge rush to make RRSP (Registered Retirement Savings Plan) contributions, especially on the last day. In 2013 alone, Canadians contributed 37.4 billion to their RRSP, according to Statistics Canada (CBC). Regardless of what time of the year it is, you should always keep […]

Canada Child Benefit: What You Need to Know

July 20, 2016 Jelani Smith 0

Effective on July 2016, the Trudeau Government rolled out the new Canadian Child Benefit program (CCB). The main purpose of this is to strengthen the middle class, which was one of the focuses of the 2016 Federal Budget. This program is to replace the Universal Child Care Benefit (UCCB) and non-taxable Canada Child Tax Benefit, helping families with a net […]

How do RRSPs Work?

June 21, 2016 Jelani Smith 0

RRSPs – also known as Registered Retirement Savings Plans are a useful tool to help all generations, from millennials to baby boomers, save for retirement. RRSPs are also useful for other purposes, such as saving up for a down payment on your first home, or saving up for university/college tuition. RRSPs – How Does It Work? The amount that can […]

3 Main Focuses of the 2016 Federal Budget

April 26, 2016 Mariam Walaa 0

Tuesday, March 22nd, 2016 marks the day in which Federal Minister of Finance Bill Morneau presents his first federal budget under Prime Minister Justin Trudeau’s Liberal Government. Trudeau notably states: “When middle class Canadians have more money to save, invest and grow the economy, everyone benefits. When middle class Canadians have confidence in their disposable income, consumer demand is strong […]

Let me tax your DEAD BODY!

April 17, 2016 Hamza Hasnain 0

 There Are Two Certainties in Life – Death and Taxes Canadian gain from free healthcare and generously subsidized education services. The U.S. does not get offered those be, clearly Canadians are paying more tax to finance these profound benefits. This is a common belief between many Canadians. The heterogeneity of family statuses as well as the intricacies of the tax structures […]