Help clients keep cottages in the family while minimizing tax and eliminating headaches. Here's how to use the principal residence exemption to increase tax savings.
When clients are paid in cash for completing jobs or projects, remind them to record and keep track of those payments. People may need to do this if they run a renovation or construction company, for example, or if they run a small side business in their spare time. Recording all income sources throughout the […]
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Make the most of your client’s income
How about a RRIF transfer credit?
If your client sells an asset, she’ll have to pay tax on half her gains. And if another investment lost money, it can offset her capital gains and she’ll only pay tax on half of any remaining profit.