It’s bad enough to discover that your business is facing a hefty tax bill. But what if you can’t pay?
Online tax filing service says Vancouver is the second most transit-friendly city based on the percentage of people claiming public transit refunds.
Millennials appear to be buying into the Canadian housing market with new zeal and the beleaguered Calgary and Edmonton markets are prime beneficiaries of a boost in first-time buyer purchases, new tax data shows.
Your children may not always look like they’re listening, but they’re certainly watching. That’s why it’s important to make sure your actions line up with what you say, especially when it comes to managing your money.
When it comes to paying kids an allowance, there’s a lot of disagreement over the best way to go about it. When to start paying allowance, whether to tie it to chores, and how much to pay are all matters up for debate.
There’s one thing, though, that financial experts agree on and studies support: Giving kids an allowance is a great way to teach them how to handle money.
Saskatchewan taxfilers may not be the quickest off the mark, but they are adept at claiming tax credits for their children’s sports and arts activities and among the most generous in terms of donations, in Regina at least, according to a survey by a Toronto-based income tax-filing software company.
“There are certain types of jobs where its obvious you’re self employed,” Robin Taub, a chartered professional accountant and spokesperson for software provider TurboTax told Yahoo Canada. “But with this newer sharing or apps-based economy, some people may not realize that what they’re making is income and they have to report it.”
Married couples as well as common-law partners can take advantage of several income tax benefits, as long as you know how to work the numbers.
If you’re not teaching your kids about money, who will? If it’s someone else, are you comfortable with what they’re teaching? Parents need to be a part of the learning process, so here are ways to help your children avoid money mistakes and learn to be responsible with money.
RRSP season is here! If you’re unsure whether to put your money into your RRSP or TSFA, Robin breaks it down on BNN.