Contents

General tips

Tip 1 - What rights does a common-law partner have?

Tip 26 - Why should you file a return if you have no income or no taxes owing?

Tip 27 - Why should a family file their returns together?

Tip 37 - How long should you keep tax records?

Tip 74 - What receipts do you need to keep in your records?

Tip 116 - Have you applied your tax refund to your spouse's liability?

Tip 117 - Is the simplified return better for you?

Tip 134 - Why should you file your return over the Internet?

 

Employment & self-employment

Tip 30 - Are there business opportunities for family income-splitting?

Tip 48 - Can you claim moving expenses for an in-home office?

Tip 56 - Did you pay GST on union dues or professional membership fees?

Tip 57 - Have you reported information from missing slips?

Tip 58 - Does your employer handle your tips?

Tip 59 - Do you use your automobile for work?

Tip 60 - Did you receive any non-taxable employment gifts or awards?

Tip 61 - Should you pay your own disability premiums?

Tip 64 - Is traveling to and from work a business expense?

Tip 65 - Can you prove your automobile expenses are work-related?

Tip 66 - What are the non-tax advantages to leasing a vehicle?

Tip 67 - Should you lease or buy your work vehicle?

Tip 68 - Are there deduction limits for leased vehicles?

Tip 69 - What's the difference in home-office expenses for self-employed versus employed?

Tip 70 - Have you done the paperwork to claim employment expenses?

Tip 71 - Is it better for you or your employer to pay your expenses?

Tip 72 - What's the advantage of using a personal vehicle for work?

Tip 73 - How can you benefit from your household expenses?

Tip 75 - What documentation do you need to support entertainment expenses?

Tip 76 - When is the best time to buy a work vehicle?

Tip 77 - How can transport employees maximize employment deductions?

Tip 78 - Can an artist claim employment expenses?

Tip 82 - Can a musician claim a GST rebate on his instrument?

Tip 86 - Why carry forward home office expenses?

Tip 87 - Why not claim CCA on home office space?

Tip 88 - Can you have a business meeting and not meet?

Tip 97 - What's the right reason to borrow money?

Tip 102 - Are there tax consequences to renting out a portion of your home?

Tip 104 - How can you turn home expenses into tax deductions?

Tip 105 - Can you deduct premiums for a Private Health Service Plan?

Tip 112 - Should an expenditure be a capital asset or a regular expense?

 

Home office expenses

Tip 48 - Can you claim moving expenses for an in-home office?

Tip 69 - What's the difference in home-office expenses for self-employed versus employed?

Tip 73 - How can you benefit from your household expenses?

Tip 86 - Why carry forward home office expenses?

Tip 87 - Why not claim CCA on home office space?

Tip 88 - Can you have a business meeting and not meet?

Tip 104 - How can you turn home expenses into tax deductions?

 

Foreign income and investments

Tip 4 - Do you have to pay tax on foreign income?

Tip 5 - Can you time your emigration to reduce the tax impact?

Tip 6 - Have you taken advantage of the Overseas Employment Tax Credit?

Tip 7 - Have you paid tax to another country as well as Canada?

Tip 11 - Do international tax treaties affect foreign pension income?

Tip 28 - Do you have foreign property and investments?

 

Other income

Tip 29 - Is interest income earned by a treaty Indian taxable?

Tip 57 - Have you reported information from missing slips?

Tip 58 - Does your employer handle your tips?

Tip 60 - Did you receive any non-taxable employment gifts or awards?

Tip 79 - Is the GST rebate considered income?

Tip 123 - Have you interest income from tax refunds?

 

Investments and Capital Gains

Tip 3 - How can you reduce a cumulative net investment loss?

Tip 23 - How can you minimize tax on investments?

Tip 28 - Do you have foreign property and investments?

Tip 29 - Is interest income earned by a treaty Indian taxable?

Tip 33 - Do you have to use your non-capital losses?

Tip 62 - Can your stock option plan cost you money?

Tip 80 - Have you protected your capital gains exemption?

Tip 89 - Should you put money into tax shelters?

Tip 90 - What about investment transactions reported on T-slips?

Tip 91 - Can you defer interest income for another year?

Tip 92 - Why is February 22, 1994 so important for capital gains?

Tip 93 - What does 50% inclusion on capital gains mean?

Tip 94 - What benefits do LSVCCs offer?

Tip 95 - Are there special rules regarding investment expenses?

Tip 96 - How can you plan your borrowing?

Tip 97 - What's the right reason to borrow money?

Tip 98 - What's the effect of an eligible capital acquisition in a short fiscal year?

Tip 113 - Can interest and capital cost allowance be deducted for rental properties?

Tip 119 - How can you take advantage of Labour-sponsored funds?

Tip 123 - Have you interest income from tax refunds?

Tip 128 - How do your capital gains affect Alternative Minimum Tax?

Tip 129 - Did you purchase shares in the Capital régional et coopératif Desjardins?

 

Capital Cost Allowance

Tip 36 - Is a customer list eligible as a capital property expense?

Tip 81 - Is an extended cab truck a class 10.1 vehicle?

Tip 98 - What's the effect of an eligible capital acquisition in a short fiscal year?

Tip 102 - Are there tax consequences to renting out a portion of your home?

Tip 103 - Can claiming CCA reduce rental income?

Tip 112 - Should an expenditure be a capital asset or a regular expense?

Tip 113 - Can interest and capital cost allowance be deducted for rental properties?

 

Rental

Tip 102 - Are there tax consequences to renting out a portion of your home?

Tip 103 - Can claiming CCA reduce rental income?

Tip 111 - Can rental properties be used for income splitting?

 

Pension, retirement, and RRSPs

Tip 9 - How do tax treaties protect pension income after emigrating?

Tip 11 - Do international tax treaties affect foreign pension income?

Tip 12 - Can you transfer a foreign pension to an RRSP?

Tip 24 - How can you take the pain out of old age security clawback?

Tip 44 - Are there advantages to spousal or common-law RRSP contributions?

Tip 83 - Should you always maximize your RRSP contribution?

Tip 84 - Should you use all your RRSP contribution room?

Tip 85 - How can you maximize contributions to a spousal or common-law partner plan?

Tip 99 - When should you not make a repayment to your HBP?

Tip 100 - Does using the HBP hurt your RRSPs?

Tip 106 - How does a retiring allowance affect RRSPs?

Tip 107 - Why make additional CPP payments?

Tip 108 - When can you contribute to an RRSP after age 69?

Tip 109 - What is the 3-year spousal RRSP holding rule?

Tip 114 - Who should claim the RRSP contributions?

Tip 115 - Have you contributed to your spouse's RRSP?

Tip 120 - Have you used Labour-sponsored fund money for HBP withdrawals?

Tip 127 - Have you divided pension benefits with your spouse or common-law partner?

Tip 133 - Have you considered deferring RRSP contributions?

 

Students and Education

Tip 19 - Can you transfer unused education amounts from previous years?

Tip 51 - What education expenses are deductible?

Tip 52 - Have you transferred tuition and education credits?

Tip 53 - Are all student loans deductible?

Tip 54 - Is a scholarship better than free tuition?

Tip 55 - Can students claim moving expenses?

Tip 122 - Have you income from a bursary?

Tip 132 - Are you aware of the effect a simplified return has on tuition fees?

 

Moving expenses

Tip 25 - How can you take advantage of a move to another province?

Tip 48 - Can you claim moving expenses for an in-home office?

Tip 55 - Can students claim moving expenses?

Tip 63 - Which method is better to report moving expenses?

 

Dependants, child care, and child support

Tip 20 - Do you have more dependants than last year?

Tip 31 - Why register for the CCTB?

Tip 38 - Why should you list all your children?

Tip 45 - Can changing child support payments hurt you financially?

Tip 46 - Are legal fees to obtain spousal support deductible?

Tip 47 - How can you make the most of the CCTB?

Tip 50 - What happens to child care deductions if you remarry?

Tip 121 - Have you split the amount for dependant children?

Tip 124 - Have you made the most of child care expenses?

Tip 125 - Did your child attend camp or boarding school?

 

Automobile

Tip 59 - Do you use your automobile for work?

Tip 64 - Is traveling to and from work a business expense?

Tip 65 - Can you prove your automobile expenses are work-related?

Tip 66 - What are the non-tax advantages to leasing a vehicle?

Tip 67 - Should you lease or buy your work vehicle?

Tip 68 - Are there deduction limits for leased vehicles?

Tip 72 - What's the advantage of using a personal vehicle for work?

Tip 76 - When is the best time to buy a work vehicle?

 

Health and well-being

Tip 13 - Have you made the most of your family's medical expense claim?

Tip 14 - What is the best medical expense claim period?

Tip 41 - Can you deduct travel expenses incurred for medical reasons?

Tip 42 - Can you claim a hot tub as a medical expense?

Tip 43 - When should the higher income spouse claim medical expenses?

Tip 105 - Can you deduct premiums for a Private Health Service Plan?

Tip 130 - Have you claimed all your medical expenses?

Tip 131 - Are you eligible for a medical expenses tax credit?

 

Other deductions, credits, and rebates

Tip 16 - Have you made the most of your charitable donations?

Tip 17 - Can you use unclaimed charitable donations from another year?

Tip 18 - Why should your family make charitable donations together?

Tip 32 - How can you expedite your GST claim?

Tip 34 - Who is eligible for the Northern Residents Deduction?

Tip 35 - Who qualifies for the Northern Travel Benefits Deduction?

Tip 46 - Are legal fees to obtain spousal support deductible?

Tip 49 - How can you benefit most from political donations?

Tip 101 - Are you eligible for a GST/HST New Housing Rebate?

Tip 110 - Are donations to religious educational institutes eligible?

 

Reducing your tax bite

Tip 2 - Should your spouse file a return if they have no income?

Tip 8 - How can you avoid a big tax bill at the end of the year?

Tip 10 - Can I reduce or avoid instalment payments?

Tip 15 - Have you optimized taxes on your spouse's estate?

Tip 21 - How can you prevent common filing problems?

Tip 22 - How can you plan for next year?

Tip 23 - How can you minimize tax on investments?

Tip 39 - What advantage is there to filing as a family?

Tip 40 - How can income splitting save you money?

Tip 111 - Can rental properties be used for income splitting?

Tip 118 - Can transferring credits reduce your spouse's tax due?

Tip 126 - Have you split taxable income with other family members?

 

 

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