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Upon the death of a loved one, the executor will have a list of responsibilities to fulfill, including closing the file on tax obligations and debts. The executor must first inform the Canada Revenue Agency and Service Canada of the death. This is to ensure that all...
As a new year begins, here are some of the tax rules and changes to keep in mind. First-Time Home Savings Account (FHSA)The FHSA is a new tax-free savings vehicle for first-time home buyers to save up to $40,000 tax-free towards the purchase of a first home in Canada....
Many of our clients ask us how to register for a CRA account. We’ve outlined the process below. CRA’s My Account is a secure portal for viewing and managing your income tax information online. You can check for your refund, check benefits and credit payments,...
The last thing on your mind upon the birth of your newborn child is about applying for their Social Insurance Number (SIN). After all, they don’t need one until they start working, right? Well, unfortunately that’s a common misnomer, and here’s why. The sooner a...
It’s that time of year to start thinking about back-to-school shopping. And with inflation at an all-time high, one may require several strategies to stay on budget. Here are some money saving tips to consider before you hit the stores. Cashback programs Sure,...
If you’re looking for a good book where you can actually walk away with takeaways, then I’ve got a terrific list of personal finance and business books for you. I’ve read each of the books on my list, so I can personally attest to each of my...
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