FAQ

You can contact us via phone or email to schedule a consultation with our firm . We will be happy to assist you in booking an appointment at your convenience.

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For tax preparation, it is essential to bring documents such as T4 slips, receipts for deductible expenses, investment statements, and any other relevant financial records. We will guide you through the specific documents needed based on your individual tax situation.

Yes, we offer remote and virtual services to accommodate our clients' needs. Whether you prefer to meet virtually or communicate via phone and email, we are here to provide convenient and efficient service.

Absolutely. We can assist you with CRA audits or inquiries. We will provide guidance, support, and representation throughout the process to ensure your rights are protected and the matter is resolved effectively.

If you have made a mistake on your tax return, it is essential to address it promptly. We will help you navigate the process of filing an amendment or correcting the error with the CRA.

The personal tax filing deadline in Canada for individuals is typically April 30th of the following year. However, if you or your spouse are self-employed, the deadline is extended to June 15th. It is important to note that regardless of the filing deadline, tax balances are due by April 30th.

Yes, if you meet certain criteria, you can claim home office expenses on your taxes. The rules can vary depending on the nature of your work (employee, commissioned salesperson, etc.)

Small business owners may be eligible for various deductions, including expenses related to operating the business, employee salaries, office rent, equipment purchases, and more.

Yes, rental income is taxable in Canada. However, you may be able to deduct certain expenses associated with renting out the property.

Capital gains in Canada are taxed at 50% of the gain at your marginal tax rate. The rules differentiating between gains on capital verses gains from operating a business can be blurred so care should be taken when claiming a capital gain.

The Childcare Expense Deduction allows you to claim eligible childcare expenses incurred to enable you or your spouse to work, carry on a business, or attend school.

Yes, in certain situations, you may be able to transfer tuition credits to a spouse, parent, or grandparent or you may carry them forward to future tax years.

The Goods and Services Tax (GST) is a value-added tax levied on most goods and services in Canada. This area of tax is coming under enhanced scrutiny, and we can help you understand GST registration requirements, filing obligations, and compliance with GST regulations.

Seniors may be eligible for various tax credits, including the Age Credit, Pension Income Credit, Medical Expenses Credit, and more.

The principal residence exemption allows you to claim an exemption on the capital gains tax when selling your primary residence. The tax treatment of rental properties differs as rental income is taxable, and capital gains on the sale of rental properties are subject to tax.

Inheritances are not taxable to the recipient in Canada. However, any income earned on the inherited assets, such as interest or dividends, may be subject to tax. There may be tax implications to the person making the gift so care should be taken when transferring assets to a child or related person.

Yes, eligible medical expenses incurred for yourself, your spouse or common-law partner, and certain dependents can be claimed on your tax return. There are credits available for certain travel, meal, and accommodations expenses as well.

The tax implications of selling investments depend on various factors, including the type of investment, how long you've held the investment, and your tax bracket.

The Lifetime Capital Gains Exemption (LCGE) allows individuals to shelter a portion of capital gains realized on the sale of qualified small business shares, qualified farm property, or qualified fishing property from tax.

The Employment Expenses Deduction allows employees to deduct certain expenses related to their employment that were not reimbursed by their employer. This is another area the CRA monitors closely so care should be taken when claiming expenses as an employee.