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Introduction If you're looking to reduce your tax burden while supporting local businesses, Labour-Sponsored Investment Funds (LSIFs) might be the solution you're seeking. In this article, we will break down…

Guide As a Canadian taxpayer, if you earn income or hold assets outside of Canada, it’s crucial to understand how to properly report them to avoid penalties and ensure compliance…

What is a T5008? The T5008 is a Canadian tax form used to report securities transactions to the Canada Revenue Agency (CRA). It is provided by financial institutions, brokers, or…

If you’re a fan of staying informed through digital news outlets, there’s a great way to save money on your taxes! The Digital News Subscription Tax Credit is a new…

1. What is the First-Time Home Buyers’ Tax Credit (HBTC)? The HBTC is a federal program designed to provide financial relief to Canadians buying their first home. It’s a non-refundable…

Introduction Renters in Canada may qualify for valuable tax credits to help offset their living expenses. These credits vary by province and cater to different income thresholds and circumstances. Here's…

If you earn income as an independent contractor for SkipTheDishes, DoorDash, Uber Eats, or similar platforms, the Canada Revenue Agency (CRA) considers you self-employed. This means you are responsible for…

The term "Dependent Amount" generally refers to tax credits available to individuals supporting dependants. These credits include the Eligible Dependant Amount (EDA) and the Canada Caregiver Amount (CCA). Each credit…

The Canada Workers Benefit (CWB) is a refundable tax credit designed to provide financial assistance to low-income working individuals and families. The goal is to encourage workforce participation by supplementing…

Moving expenses are costs incurred when relocating to start a new job, carry on a business, or attend a post-secondary educational institution full-time. The Canada Revenue Agency (CRA) allows eligible…