Property Transfer Tax Rates & Rules in BC Once you’ve purchased or gained interest in property registered at the Land Title Office in British Columbia, a property transfer tax return must be filed. This involves paying the property transfer tax unless there is an exemption you qualify for. The property transfer tax is based on […]
Author Archives: advancedtax
Eligible Medical Expenses for Tax Returns That time of the year is coming up again and this is the best opportunity to get ready to file your tax return. Start collecting all the proof of any medical expenses you’ve incurred that haven’t been claimed. They must be paid for in any 12-month period ending in […]
Canadian Income Splitting Rules and Information Income splitting refers to splitting the income received from a corporation among family members. This was used to reduce tax owed if those family members were taxed at a lower rate than the primary individual. The government put measures in place to limit this activity such as the “kiddie […]
The Management Salary Deadline is Almost Here! It’s that time of the year where business owners need to finalize how they’ll be paid and can be done in a few different ways. Management salary is one way to do so and involves paying remittance on the salary paid. The deadline for paying management salaries is […]
Learn About the Interim Canada Dental Benefit The Canadian government has brought in the interim Canada Dental Benefit. This helps lower dental costs for eligible families earning less than $90,000 annually. It applies if the child receiving dental care is under 12 years old and doesn’t have access to a private dental plan. Children eligible […]