Tax Tips – Advisor's Edge https://phoenix.advisor.ca The best news source for Canadian financial advisors. Investments, financial markets, insurance, practice management, tax and estate planning Thu, 05 Oct 2023 18:47:00 +0000 en-CA hourly 1 https://wordpress.org/?v=5.9.3 https://phoenix.advisor.ca/wp-content/uploads/sites/5/2018/05/cropped-advisor-ico-32x32.png Tax Tips – Advisor's Edge https://phoenix.advisor.ca 32 32 The cost of TFSA contributions for non-residents https://phoenix.advisor.ca/tax/tax-news/the-cost-of-tfsa-contributions-for-non-residents/ Wed, 27 Sep 2023 21:27:08 +0000 https://www.advisor.ca/?p=231151 Case study explains the consequences

The post The cost of TFSA contributions for non-residents appeared first on Advisor's Edge.

]]> CRA releases revised form for mandatory tax disclosures https://phoenix.advisor.ca/tax/tax-news/cra-releases-revised-form-for-mandatory-tax-disclosures/ Thu, 27 Jul 2023 21:16:40 +0000 https://www.advisor.ca/?p=229208 Expanded reporting regime is intended to help the CRA fight aggressive tax planning

The post CRA releases revised form for mandatory tax disclosures appeared first on Advisor's Edge.

]]> How to properly plan the opening of an FHSA https://phoenix.advisor.ca/tax/tax-news/how-to-properly-plan-the-opening-of-an-fhsa/ Wed, 28 Jun 2023 13:20:56 +0000 https://www.advisor.ca/?p=227699 Clients may be eager but timing is important

The post How to properly plan the opening of an FHSA appeared first on Advisor's Edge.

]]> Tips for helping children buy a home https://phoenix.advisor.ca/tax/tax-news/tips-for-helping-children-buy-a-home-2/ Mon, 12 Jun 2023 20:00:19 +0000 https://www.advisor.ca/?p=226527 Strategies to minimize tax implications, including the FHSA

The post Tips for helping children buy a home appeared first on Advisor's Edge.

]]> Understanding the underused housing tax https://phoenix.advisor.ca/tax/tax-strategies/understanding-the-underused-housing-tax/ Mon, 15 May 2023 13:39:49 +0000 https://www.advisor.ca/?p=225549 If your client is an affected owner, they must file a UHT return by Oct. 31 to avoid penalties

The post Understanding the underused housing tax appeared first on Advisor's Edge.

]]> Tax-loss selling: Superficial loss and identical property rules https://phoenix.advisor.ca/tax/tax-news/tax-loss-selling-superficial-loss-and-identical-property-rules/ Wed, 26 Apr 2023 21:31:49 +0000 https://www.advisor.ca/?p=224765 Help clients realize a capital loss while maintaining market exposure

The post Tax-loss selling: Superficial loss and identical property rules appeared first on Advisor's Edge.

]]> The gift of homeownership https://phoenix.advisor.ca/tax/tax-strategies/the-gift-of-homeownership/ Fri, 31 Mar 2023 14:00:59 +0000 https://www.advisor.ca/?p=222893 Tax tips when tapping the Bank of Mom and Dad

The post The gift of homeownership appeared first on Advisor's Edge.

]]> CRA reminds taxpayers to include Covid benefits in income https://phoenix.advisor.ca/tax/tax-news/cra-reminds-taxpayers-to-include-covid-benefits-in-income/ Thu, 26 Jan 2023 20:04:29 +0000 https://www.advisor.ca/?p=221190 T4A errors should be reported right away

The post CRA reminds taxpayers to include Covid benefits in income appeared first on Advisor's Edge.

]]> Selling real estate? The CRA is (still) watching https://phoenix.advisor.ca/columnists_/wilmot-george/selling-real-estate-the-cra-is-still-watching/ Fri, 06 Jan 2023 18:43:39 +0000 https://www.advisor.ca/?p=220425 Transactions, including property flipping, require proper tax reporting

The post Selling real estate? The CRA is (still) watching appeared first on Advisor's Edge.

]]> Tax-loss selling and other year-end tips https://phoenix.advisor.ca/tax/tax-news/tax-loss-selling-and-other-year-end-tips/ Tue, 13 Dec 2022 21:30:21 +0000 https://www.advisor.ca/?p=218438 Jamie Golombek reviews the strategies

The post Tax-loss selling and other year-end tips appeared first on Advisor's Edge.

]]>