Category: Personal Tax

Tax Tips for Parents of Kids with Disabilities

There are many credits and benefits available for children with severe and prolonged disabilities. These can range from severe vision or hearing impairments, to autism, and mobility restrictions. In order to claim or apply for these programs and credits, the first step is to…

CPP benefits. Should you take it sooner or later?

One question that often comes up about CPP benefits is whether to take it earlier or later. If you Google this, you’ll get different answers: some say take it early, others say take it later. It seems the experts don’t quite agree, so I…

Commonly Missed Tax Deductions

Counting the various provincial credits, there are more than 400 different tax deductions available to Canadians. While there may be no crying over spilled milk, when it comes to your tax return, missing a credit or deduction might bring a tear to your eye….

The high tax cost of divorce & separation

The financial effects of splitting up are bad enough. Wait until tax enters the picture. There are 71,000 divorces in Canada each year, and more than 40% of marriages end in divorce. That’s less than the U.S. divorce rate of 46%. (The Swedes, meanwhile,…