Here’s What You Need to File Your 2022 Income Tax Return It’s time to file your income tax return for 2022 and the deadline to pay is coming up. Advanced Tax is here to not only file your taxes, but to make sure you get every credit and deduction possible. Here’s a list of most […]

Guide to Using an RESP in Canada The RESP is a registered savings account for people who want to save for a child’s education after high school. Anyone can open an RESP account for a child, including parents, guardians, grandparents, other relatives or friends. The Registered Education Savings Plan earns interest that is tax-free. It […]

How the Underused Housing Tax Can Affect You As of January 1, 2022, the Canadian government implemented the Underused Housing Tax. This is an annual 1% tax on the ownership of vacant or underused housing. It primarily applies to non-resident, non-Canadian owners, but can apply to residents as well. Who Has to Pay the Underused […]

Taxable Benefits and Allowances for Employees Cash and gifts that are paid or provided to employees could be considered to be taxable benefits or allowances. These can include meal allowances, gifts, or even parking spaces so it is very important to know when to include it in an employees income. Whether it will be taxable […]

Here’s Are the Tax Updates You Need to Know! We’re at that time where documents are being gather, receipts are being collected, and everyone is preparing for their personal tax return. Knowing the tax updates will make sure you get the most out of your filing and preparation. Read about some of the key changes […]