Understand Your Pension Decision

by Tax Guy June 1, 2011

If you have a defined benefit pension plan and are retiring or leaving your employment, you may be presented with different pension options. Depending on the terms of your pension plan, you will be offered any or all of the following choices: Lifetime pension from the pension plan, lump-sum transfer to a locked-in RRSP, or a transfer [...]

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The Spousal RRSP & The Double Trap

by Tax Guy April 2, 2011

If you have a spousal RRSP, be aware of the special spousal RRSP rules that may apply when your spouse withdraws from the plan. If you have withdrawn from a spousal RRSP, you may have experienced the way these rules are applied. When you consider the tax withheld on the RRSP withdrawal the results can be [...]

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Weekly Reading: Blog Update

by Tax Guy April 1, 2011

Each week, I share articles and stories from other blogs and websites I’ve come across. The most popular articles and commenter’s are also be mentioned. I encourage you to take a look at these articles and visit their sites. If you have an idea for an article on CTR or would like me to cover [...]

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Selling on eBay Can Be Taxing

by Tax Guy March 30, 2011

If you sell stuff on eBay, Craigslist, Kijiji, or in yard sales the taxman may be calling on you. Income tax is not a concern for most Canadians selling unwanted items. However, income tax may apply based on the use of the property you are selling or how often you sell items. Knowing the tax [...]

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How Do You Know You Need It?

by Tax Guy March 29, 2011

My wife and I value our family time and have traditionally spent weekends (and the odd week) at her family’s cottage. However, in the last few years we have decided that we should make an effort to take vacations to different destinations. We feel that family vacations are an opportunity to spend time together and [...]

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Know Your ACB & Save Tax Dollars

by Tax Guy March 28, 2011

When you buy an investment or other taxable property, you may have a capital gain or loss when you eventually sell. The Gain or loss is the difference between what you received from the sale and what you paid for it. Knowing what is included in the cost, can help reduce your tax bill. Particularly [...]

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Weekly Reading: Blog Update

by Tax Guy March 25, 2011

Each week, I share articles and stories from other blogs and websites I’ve come across. The most popular articles and commenter’s are also be mentioned. I encourage you to take a look at these articles and visit their sites. If you have an idea for an article on CTR or would like me to cover [...]

Read the full article →

What is an Estate Freeze?

by Tax Guy March 24, 2011

An estate freeze is not a mid-winter funeral! If you have a business, the estate freeze is a way to fix the value of your business or investments and transfer future growth to your children and beneficiaries. The result is that you can split income by shifting capital gains and dividends to other family members [...]

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