Tax
Everything you need to know about tax in Ontario — in plain English.
How Capital Gains Are Taxed in Canada
A plain-English guide to how capital gains tax works in Canada, the inclusion rate, and why tax applies only when a gain is actually realized.
Understanding the Capital Gains Inclusion Rate in Canada
What the capital gains inclusion rate means for Canadian investors, why it has changed before, and how to plan without assuming today's rate is permanent.
Charitable Donation Tax Strategies for Canadians
How the charitable donation tax credit works in Canada and why donating securities in kind can be more tax-efficient than giving the same amount in cash.
CRA Audit: What to Expect and How to Prepare
A general guide to how a CRA review or audit typically unfolds in Canada, what records to keep, and how to respond calmly if you are selected.
The Dividend Tax Credit Explained
How Canada's dividend tax credit works, why dividends are grossed up before the credit applies, and how it lowers the real tax cost of dividend income.
First Home Savings Account (FHSA): How It Works
A general guide to how the First Home Savings Account works in Canada, how it compares to the RRSP and TFSA, and what to confirm before you contribute.
How to Reduce Taxes as a Business Owner: An Overview
A clear overview of how incorporated Canadian business owners legitimately reduce tax, from salary vs. dividends to income splitting and holding companies.
How to Reduce Taxes in Canada: A Household Overview
A practical overview of legitimate ways Canadian households and owners reduce taxes, from registered accounts and income splitting to timing and credits.
Income Splitting Strategies in Canada (and TOSI Limits)
How spousal and family income splitting works in Canada, the strategies still available, and the tax-on-split-income (TOSI) rules that now limit them.
Marginal vs. Average Tax Rate: Why It Matters
The difference between your marginal and average tax rate in Canada, and why your marginal rate is what actually drives most financial decisions.
The Medical Expense Tax Credit: What Qualifies
A general guide to Canada's medical expense tax credit, what expenses typically qualify, how the income threshold works, and which spouse should claim.
Pension Income Splitting in Retirement: How It Works
How pension income splitting works for retired Canadian couples, which income qualifies, and why it can lower a household's combined tax bill in retirement.
The Principal Residence Exemption Explained
How the principal residence exemption lets Canadians sell a main home tax-free, who qualifies, the reporting rules, and how a cottage changes things.
The Prescribed-Rate Loan Strategy for Income Splitting
How a prescribed-rate loan splits investment income with a lower-income spouse or family trust, and the strict conditions that keep the strategy effective.
RRSP Contribution Strategy: Timing It Right
General guidance on RRSP contribution timing in Canada: lump sum vs. regular contributions, when to claim the deduction, and how to optimize around your income.
Salary vs. Dividends: How to Pay Yourself
How Canadian business owners weigh salary vs. dividends, the concept of tax integration, and the RRSP, CPP, and planning trade-offs of each approach.
Snowbird Tax Rules: Canada-US Residency Cautions
General guidance for Canadian snowbirds on day-count residency rules, the US substantial presence test, and the cross-border tax cautions that matter.
Spousal RRSPs Explained: How They Work
How a spousal RRSP works in Canada, the attribution rules that apply to withdrawals, and when this strategy helps a couple reduce lifetime tax.
How Canadian Tax Brackets Work
A general explanation of how marginal tax brackets work in Canada, how federal and provincial brackets combine, and why current figures must be confirmed.
Tax-Loss Harvesting in Canada: Offsetting Gains
How tax-loss harvesting works in Canada, when it makes sense, and how the superficial-loss rule can disqualify a claimed loss on a reacquired investment.
How Rental Property Income and Gains Are Taxed in Canada
A general guide to how Canadian rental income and capital gains on investment property are taxed, and what landlords should track throughout the year.
How Tax on Death Works in Canada
A general guide to Canada's deemed disposition rules at death, the final tax return, and how estate planning can help manage the tax impact for your heirs.
How Investment Income Is Taxed in Canada
How Canada taxes interest, dividends and capital gains differently, and why your account and investment choices should reflect that difference.
Tax Planning for Retirees: Brackets, OAS, Splitting
General tax planning strategies for Canadian retirees, including bracket management, OAS clawback awareness, and pension income splitting to lower lifetime tax.
TFSA Contribution Rules: Room and Recontributing
A general guide to how TFSA contribution room accumulates, how withdrawals work, and exactly when recontribution room becomes available again in Canada.
Tax Basics for US Citizens Living in Canada
A general overview of the tax obligations facing US citizens and green card holders living in Canada, and why coordinated cross-border advice matters.
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