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Filing Taxes Insights

March 29, 2022
Make a will

The Best Online Will Kits in Canada 2022

Everything in your will is something that is truly yours. These are assets that have been designated for someone else, like: insurance money. The accounts are for “brokerage or investments.” The money for retirement and pension plans Income from bank accounts that payout when you die. The best online will Canada has is important because we want to know about it. The most important part of estate planning is to have a legally binding will ready when you need to make one. When you die, your money, assets, property, and investments (known as your estate) will go to the people […]
March 29, 2022
Employment Insurance

Employment Insurance Maximum Insurable Earnings 2022

The maximum insurable earnings (MIE) is the highest level of income for which employment insurance (EI) premiums are paid. The maximum amount of money that can be paid each week in benefits under the EI programme will be set by it. There will be a big increase in the Maximum Insurable Earnings (MIE) for Employment Insurance in 2022, the Canada Employment Insurance Commission (CEIC) said. This is up from $56,300 in 2021. The maximum amount that can be taken into account when someone is applying for EI benefits and how much EI premiums can go. The MIE is updated each […]
March 29, 2022
Tax Filing Softwares

The 7 Best Free Tax Return Software for Canadians in 2022

Paying taxes can be hard and intimidating, especially if you don’t know how to do accounting or finance. But there is good news: There are free tax software that makes it easy to file your taxes online. One of the main benefits of using the tax return software program is that you can save money by not having to pay a tax expert. When you file your own taxes, you will save money every year. Is submitting taxes online an increasing trend? So, the big agencies will hire professionals. However, the majority of small businesses and solopreneurs have the option […]
March 29, 2022
Canada Emergency Student Benefit

2022 ODSP Payment Dates, Benefit Amounts and Application

In Ontario, the ODSP is a welfare program funded by the Ontario government that is available to individuals who are unable to work due to medical conditions or disabilities. As well as health benefits, it provides financial assistance for basic needs such as housing, food, and clothing. Our first point of discussion will be the ODSP payment dates for 2022. The next step is to describe in detail what this program involves, what benefits are available, and how to apply. Let’s begin. What Is ODSP? The Ontario Disability Support Program (ODSP) provides an income and employment support service to residents […]
March 29, 2022
Spousal Tax Laws

2022’s Top Canadian ETFs

What are EFTs? An exchange-traded fund (ETF), like a traditional mutual fund, allows you to invest in a portfolio of securities, such as stocks or bonds. ETFs are traded at some stage in the day on an alternate at marketplace-decided prices, just like individual securities. ETFs are open-ended, meaning new units can be created and existing gadgets redeemed each day based totally on investor calls. Closed-end budget and character securities, on the other hand, usually issue a fixed number of units or shares. Using ETFs is an outstanding way for investors to build a low-cost, broadly diversified portfolio and save […]
March 29, 2022

What Is a Spousal RRSP?

Even though you might be paying for the plan, your spouse is the “annuitant,” or owner. This is called a spousal RRSP. In general, the main goal of the spousal RRSP is to move retirement income from one spouse to the other. When the lower-earning spouse starts taking money out of their retirement fund, their lower tax rate can help you manage your tax bill as a couple, because you both pay less. It may also be possible for the higher-earning spouse to take a tax deduction for the money he or she gives to the family. Why would you […]
March 29, 2022

Canadian Inheritance Tax Laws and Information

There is no inheritance tax or death tax in Canada, so there is no need to pay it. There would be no tax on the inheritance if you were a beneficiary and got it from an estate and didn’t pay any. Rather, the estate would pay taxes before any tax is given to beneficiaries. The executor of the estate would be in charge of this process. In Canada, taxes are levied after a person dies. Only the income from the estate is taxed, not the assets of the estate. If there are assets in the estate, a “deemed disposition,” where […]
March 28, 2022
CanadaWorkers Benefit

How to Apply for the Canada Workers Benefit?

The Canada Workers Benefit (CWB) is an improved version of the Working Income Tax Benefit. The working income tax benefit has been reintroduced in 2018 as Canada Workers Benefit (CWB). CWB is a refundable tax credit available for low-income individuals in the workforce. It’s designed to help low-income workers and their families with the rising costs of basic necessities. Find out if you qualify for the CWB, how much you could be entitled to, and how to apply. Over the past few decades, the cost of living has skyrocketed throughout the country while wages have stagnated. More Canadians are finding it […]
March 27, 2022
Grant Application

Small businesses in Ontario can apply for a $10,000 grant

The Ontario government offers focused relief for organisations and those impacted by the contemporary COVID-19 pandemic. As a part of this plan, the authorities are introducing a $10,000 grant for eligible corporations that are difficult to close below the change to Step Two of the Roadmap to Reopen and are supplying additional strength-price relief for businesses as well as workers and families. It’s basically a new financial relief programme to help businesses affected by the COVID-19 pandemic. If you have a suitable small business, you can apply for Ontario government grants for small businesses. Ontario Business Expense Rebate Program The […]