Federal Budget 2024 Canada Summary: Key Highlights for Businesses and Individuals The Canadian Federal Budget 2024 announcement was recently made, and we’ve highlighted the key areas in this article. It affects anyone residing or operating a business in Canada, along with other areas of foreign impact. When working with expert accountants, you can trust that […]
Author Archives: advancedtax
Guide to Tax on Crypto Gains in Canada Cryptocurrency is becoming a more common investment tool day-by-day, with coins like Bitcoin and Ethereum leading the way. Other crypto assets are making their way into regular dealings for investors as well, but there are taxes to consider on crypto gains. When dealing in crypto assets, you […]
A Comprehensive Guide to the FHSA in Canadian Tax Returns The First Home Savings Account or FHSA is a tax-free savings plan. It is a registered account for first-time homebuyers to gather funds to buy or build their qualifying first home. It is important to understand how this account can affect your tax return to […]
A Guide to the BC Renter’s Tax Credit You may have heard of the BC Renter’s Tax Credit, but we’re here to break down exactly how it works. That means discussing what it is, who is eligible, how to claim it, and how much you get. Between increasing living costs and general inflation, the government […]
How Does the RRSP Tax Deduction Work for Canadian Income Tax Setting up an RRSP, or Registered Retirement Savings Plan, not only assists you in retirement at ensuring you have the savings you need, but also provides an RRSP tax deduction based on the amount you contribute. You set up the account and it is […]