Global News
It’s that time of year when Canadians start gathering their receipts and slips in order to file their 2014 tax returns. But should you file your taxes on your own, or go to a professional? We asked financial experts when they think you should DIY and when to seek professional help. Everyone is different and there is no universal answer, but to get an idea of what path you should take, start by asking yourself these questions… Read More
Connect CPA
As a freelancer and independent contractor you are eligible to deduct business expenses against your income. This is a good thing. Actually, it’s a great thing. You see, your taxes are based on your net income. By tracking your business expenses throughout the year, you are able to apply those business expenses against your income and reduce it, thereby by reducing your income taxe… Read More
Pembina Valley Online
Income split and save: Seniors are allowed to split up to half of their eligible pension income with a spouse or common-law partner. Income splitting allows some seniors to enjoy a significant tax reduction. In the situation where the lower-income spouse has very little income, the tax savings are substantial. Get your benefits: Any senior receiving Guaranteed Income Supplement (GIS) through Old Age Security should file on time to ensure their benefits continue uninterrupted… Read More
CBC News
The Canada Revenue Agency is using a new tool in its battle against tax evasion — one that experts say could radically change the way it pursues tax cheats. For the first time, the agency has used proceeds-of-crime provisions in the law to freeze the assets of individuals charged with tax evasion.Up to now, those provisions have been used only in cases involving suspected terrorist financing or money laundering… Read More