Although RESP and RRSP might sound similar, they are not.
Did you know… you can re-contribute amounts withdrawn from your TFSA without affecting your contribution room.
Here are some tax audit triggers you should know about!
Did you know CRA has a non resident calculator resource on their site? This might give you an estimate amount of what you need to report.
Tax Tip – Interest on the money you borrow in many cases is not deductible.
If you are negotiating a separation agreement, you should ensure that you are setting apart the child support component from the alimony.
You are allowed to have more than one TFSA however it is your responsibility to ensure you are not over-contributing.
2020 and 2019 CPP information Chart
If you are thinking of contributing to a spousal RRSP, there is definitely an advantage.
As tax season approaches, it is important to be vigilant of CRA scams.
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