New income tax changes for your 2017 returns

(NC) With the income tax deadline approaching, there are some significant changes that have rolled out this year that will affect many Canadians. Here are some that can help make filing quicker and easier. Public transit reimbursement. Early last year, the government announced the elimination of the public transit reimbursement, citing the credit wasn’t effective […]

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Benefits of planning for retirement at an early age

(NC) Nowadays, Canadians will generally need over $1 million to live comfortably in their golden years when taking into account the average household wage, retirement age and life expectancy. Though this news may seem frightening, there are many programs and strategies out there that can help you plan accordingly. For instance, through the Canada Pension […]

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Use your life insurance for cash now?

Article By: June Yee The costs of caregiving bear out the fact that growing old can carry real financial burdens. Recent innovations in the financial services industry underline concerns about paying these costs. Critical illness insurance and long-term care insurance as well as a more recent innovation, the so-called “nursing care” annuity, are touted as […]

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Are you a new business owner? It’s tax time – here’s what you need to know!

When you run a business in Ontario, even a small business from your home, you must include all business income and expenses when filing your personal tax return. This includes part-time and self-generated income from renting space in your home, selling homemade goods, or providing services like home renovation and repairs, lawn care, driving or […]

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