Budget 2019 proposed the new Canada Mortgage and Housing Corporation (CMHC) first-time home buyer incentive, which is a shared equity mortgage that would give eligible first-time home buyers the ability to lower their borrowing costs by sharing the cost of buying a home with CMHC.
The HBP allows first-time home buyers (special rules apply for those with a disability) to withdraw amounts from their RRSP to buy or build a home. Do you qualify?
Recent changes to mortgage rules have caused the housing market to cool slightly. What was once a highly lucrative industry, has turned into a mess for some but this isn’t to say that it can’t still be profitable for those who play their cards right. Are you protected?
Is the tax refund a good thing? It’s a question that spurred a great debate in February’s Knowledge Bureau poll when we asked tax and financial professionals whether or not the withholding taxes that lead to a tax refund should be reduced to help taxpayers save or pay down debt. Did the no side or the yes side win? You’ll be surprised by the results.
Travel from home to a regular place of employment is usually a personal expenditure, the costs of which cannot be claimed as an employment expense. There are exceptions to this… Contact us to see if you may qualify!
If there are recreation or education components to your childcare costs, then you may be able to claim the full amount on your tax return.
Starting January 1, 2019, there are a few changes to the way Canadians will be taxed.
Did you know that if you moved more than 40km for work, you may be able to claim the expenses associated with that move on… Read More »Did You Move?
One of the hardest things we’ve had to do is tell someone that they can’t claim a certain expense because it’s not eligible. Unless you… Read More »Expenses – What can you claim?
We’ve all seen or been around someone who is getting to the age where they can start drawing a pension if they choose. The question… Read More »Pensions – What is the Right Age?