Personal Tax Instalments in Canada: When and Why You Have to Pay
Most Canadians are used to the routine: file your tax return and pay any balance owing by April 30. But if you earn income that does not have enough tax withheld at source, from rental properties, investments, self-employment, or pension payments, the CRA may require you to prepay your taxes in quarterly instalments throughout the […]
What Is a Capital Gain? And Why Does It Matter for Your Taxes in Canada?
If you have sold an investment, a property, or any other asset for more than you paid for it, you have likely realized a capital gain, and you may owe tax on it. Capital gains are one of the most common tax events Canadians encounter outside of employment income, yet many people are unsure exactly […]
Should Your Business Invest in Stocks?
A Tax-Smart Guide for Incorporated Business Owners in Ontario Business is doing well and the profits are rolling in. You’re piling up excess cash you don’t need to reinvest into the business. You could pay it out as salary or dividends, but is that the best move? Before withdrawing the money, consider whether your corporation […]