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Check out our Tax Tips with The Mad Accountant
TTT: Capital Gains Rising
The current federal government has introduced a new, much higher Capital Gains tax system that they say is meant to target the wealthy. While it may impact them, it could also impact a lot of other people, too. It takes effect next month; are you ready?
TTT: Mortgage Expenses
How much room do you have in your monthly budget? Do you think you could handle a 50% increase in your mortgage payment? You know, if that $1,600 monthly expense turned into $2,400? This is a reality that many people will be facing this year as their mortgages come up for renewal. Are you ready?
TTT: Home Office & Automobile Expenses
There are lots of things you can deduct from your taxes, and your Home & Automobile expenses are some of the big ones, especially if you are self-employed! However, the CRA looks at these very closely and audits them often. So make sure you do it right, otherwise you could be in for a nasty surprise!