Charitable Giving More Important Than Ever Charitable giving is one way that taxpayers can support a cause or organization close to their heart. In 2020, during a time of COVID, ton here are more worthy causes than ever before and fewer people able to contribute. It has been a difficult year for so many. As…
CPP or Canada Pension Plan is the accumulation of credits, dependent on a taxpayer’s annual earnings. It is a taxable pension benefit that you can receive beginning as early as age 60 (though you choose when to begin receiving CPP), or as late as 70. The amount you receive each month is based on your…
Could the 2019 Federal Budget Help Those Separating? In the past, the Home Buyers’ Plan (HBP) has allowed first-time homebuyers to withdraw up to $25,000 from their Registered Retirement Savings Plan to purchase a home without having to pay tax on the withdrawn amount (Budget 2019 proposes to increase the HBP limit to $35,000 per…
6 Things Getting Divorced Taught Me About Money with Tasha on for The Financial Diet. You may think that divorce is a 50/50 split of assets and debts but you’d be terribly wrong. You can be left dealing with the financial outcomes of divorce for years. Get good advice pn financial matter including taxes before…
Do You Understand the Benefit of a TFSA? Many Canadians still don’t understand the benefits of a TFSA. MoneySense Magazine reported that only 1 in 5 Canadians can truly explain a TFSA. This acronym stands for Tax Free Savings Account; many of us believe that the government should have more appropriately named it the Tax…
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