What Are You Doing With That Tax Refund?

Canadians are an optimistic bunch this tax season. Two-thirds of tax filers expect to receive a refund this year, according to the latest survey data from TurboTax Canada. Most financial experts, including me, will tell you that getting a tax refund is not necessarily...

Tax Deductions and Tax Credits: What’s The Difference?

Canadian taxpayers have until April 30th, 2017 to file their 2016 taxes. However, before the calendar turns over to a new year many Canadians want to know how best to maximize their tax refund or minimize what they owe the government. The two main ways to reduce taxes...

Tax Tips From An Eager Tax Filer

Where’s my T4?!? I know it’s only mid-February but I’m eager to get started on my taxes so that I have the option to make an RRSP contribution before the deadline. But my employer has yet to issue our T4s and I can’t file my taxes if I’m missing such a key document....

RRSP Loans: Why You Should (and Shouldn’t) Get One

February is RRSP season, which for many Canadians means an annual trip to the bank to make an RRSP contribution before the deadline (March 1st, 2017). It might be tempting to take out a loan if you don’t have the cash available to make a contribution – the rationale...

The Next Tax Bracket Myth

Let’s bust a myth about working overtime. Some employees wrongly believe that when earnings from overtime, a bonus, or salary increase pushes them into another tax bracket they’ll actually take home less on their paycheque than before. Some employees even refuse to...

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