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Child Fitness and Arts Credits

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Comment1
The recent Federal budget has reduced the fitness credit in half to $500 per child for 2016 and zero for 2017. The arts credit is similarly reduced to $250 for 2016 and zero for 2017. The negative of this is that those parents fully using these credits will be paying an...
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Deducting Interest

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Comment1
Deducting Interest: When Can it be Done? In Canada, interest expense on money borrowed to produce income from a business, investments or property is deductible against all sources of income. However, interest paid on money borrowed for personal consumption, home mortgages and Registered investments is not deductible. For many people,...
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Income Splitting

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Comment1
Income Splitting: 10 Ways to Reduce Your Taxes Canada has a progressive tax system. This means that as your income grows your pay a larger share to governments. Income spitting is one way that you can reduce your total family tax bill. But how do you do it? There are...
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Self-Employed

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Comment1
Self-Employed? 10 Ways to Reduce Your Taxes More and more people have their own businesses these days. Everyone has heard that self-employed or those people that run their own business pay less in tax. But how do they do it? Here are 10 ways that you can reduce your taxable...
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