It’s charitable giving time and this time of year, I get more and more charities asking for money and donations. I know it’s all for a good cause but I’ve never liked strangers coming to my door at supper time or get soliciting phone calls at night while I am putting my kids to bed…
Flow-through shares utilize specific provisions of the Income Tax Act (“Act”) to allow for the “flow-through” of exploration expenses from resource companies (typically oil and gas, mining and base metals) to individual investors. Many junior resource companies are not profitable and the exploration expenses they incur on a yearly basis are “wasted” in that they…
Guest post by Frank Flynn In my last post on Retire Happy Blog, I shared how to apply for tax relief and gave a broad outline of the three categories for applying to the CRA for relief from penalty and interest on tax liabilities. For those that missed the first blog, the three categories are:…
Guest post by Frank Flynn With the downturn in the economy, there’s no shortage of Canadians carrying major tax liabilities. Tax debts typically come with serious penalty and interest charges. Often enough taxpayers struggle along chipping away at a tax burden that never seems to diminish. Fortunately, the Income Tax Act allows taxpayers to apply…
I met Mary at one of my Retirement Planning Workshops. Mary is divorced and has 2 adult children. She makes a gross income of $103,000 per year or $8583 per month. Her net pay is $4300 per month. Mary is fiscally responsible. Her home is almost paid off as she only has 20 months of…
Recently, I shared the results of an H&R Block study that suggests that Canadians do not know a lot about taxes despite the fact that it is the one thing we all have in common … we have to pay it. From my experience, I agree with the study because I see it all the…
