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Filing Taxes Insights

September 9, 2022
US Stocks in Canada

How to Buy US Stocks in Canada

The American stock market is the place to be, let’s face it. Yes, Canada has one, and it is brimming with fantastic chances for all kinds of investment schemes. The international gold standard is, however, the American stock market. The cost and ease of investing in US equities from Canada are both favorable.  Several online trading platforms provide Canadians access to the New York Stock Exchange (NYSE) and the NASDAQ, two of the most important international stock markets where you may purchase shares in businesses like Tesla, Netflix, and Meta Platforms (Facebook). For many Canadians, investing in US equities is […]
September 9, 2022
Farmers Tax

Top 8 Tax-Saving Tips for Your Farm

In Canada, agriculture is a huge industry. According to the Tax Planning for Farmers Website, there are 189,874 farms in Canada with yearly cash earnings of over $54 billion. The agriculture sector must always respond promptly to a variety of issues, including extreme weather occurrences, trade conflicts, and changing market conditions. The well-being of farm operators is impacted by each of these problems. It is crucial to gather data on the state and resilience of the agriculture industry in light of these difficulties.  As a farmer, you have a variety of special tax considerations. You should take the time to […]
September 9, 2022
Tip Box

Are Tips Taxable in Canada ?

The tipping culture has been going around for years and years. Tips are often modest sums of money given to someone in appreciation for a service they have provided or rendered. There are several occasions in our everyday lives when we are given the opportunity to give tips to any service provider.  For instance, you are dining out or in, meeting with friends at a pub, or getting your hair and nails done at a salon. So in each situation, you received a service. Now it is your decision to make whether you need to give a high tip or […]
August 25, 2022
Disability Tax Credit

10 Benefits of Getting Approved for the Disability Tax Credit and RDSP

Most disabled Canadians may not take advantage of all of the disability benefits that are available to them. However, they don’t know that the rules and processes for getting in can be different, and the application process could take a long time. There are a number of benefits for those who qualify for the Disability Tax Credit (DTC). You may be eligible for not only $1,900 to $2,200 each year ($5,500-$6,000 for children), but you could also be eligible for other credits and benefits. So, would it surprise you to learn that the Disability Tax Credit entitles you to some […]
August 25, 2022
Tax Break

What is the gas tax break in Canada?

The pandemic and Russia and Ukraine war have caused lots of disturbances in the world market. Canada faced the highest inflation rate of 8.1% in June. This inflation rate came as a surprise, and it had a big effect on the lives of Canadians as well. The increase in inflation has been the highest since 1983.  Canada is a prominent supporter and is providing aid to Ukraine in the Russia and Ukraine war. This has caused significant changes in prices all over the world. Canada has also faced massive shortages in fuel and oil. People’s demand for gas, energy, and […]
August 25, 2022
Tax Refunds

How to use tax refunds wisely in the face of rising inflation and interest rates

Costs of goods and services that go up quickly can hurt businesses and family budgets in Canada in a big way. Recent inflationary economic headwinds have hit many countries around the world, including Canada. These include rising oil prices, a strain on the global supply chain after the pandemic, and the conflict in Ukraine. When inflation lasts for a long time, it usually hurts our wallets the most, such as at gas stations and grocery stores, but it also hurts many other parts of the economy. In 2022, Canada recorded the highest inflation rate of 8.1% in June since 1983.  […]
August 25, 2022
Truck Taxes

What are new truck taxes? A detailed guide

In Canada, many businesses rely on the trucking sector to keep their delivery systems running smoothly across the country. The trucking business drives the whole Canadian economy. The trucking business is a big part of Canada’s economy, according to the dolphin Ltd delivery website. Also, with more than 63.7 million exports in 2018, the industry made close to 39.55 billion Canadian dollars. Additionally, this figure has increased in significant years. The importance of the truck sector is well known to the Canadian government. The truck industry has changed and is now using new technology to catch up with the rest […]
August 25, 2022
Child Tax

Canada’s provinces are increasing child tax benefits

One in five children, or 385 million children, struggles to survive and get the necessities. Children are twice as likely as adults to live in poverty. Over 660 million children are expected to live in complicated or complex situations and poor homes, with poverty rates once again regularly greater than those of adults. Poverty is much more than just income. Social protection is essential for defending and empowering poor children. Only one in three children receives any kind of child or family assistance, even though millions worldwide are not protected by social protection. The child tax benefit is a program […]
August 25, 2022
Federal Disability Tax Credit

Type 1 diabetics are eligible for the Federal Disability Tax Credit

Finding out you have a serious illness like diabetes can turn your life completely upside down. Living as a diabetes patient is extremely hard and heart wrenching. Diabetes Type 1 has no cure and the person diagnosed with this disease has to live with it for the rest of his/her life. In diabetes disease, the immune system starts destroying the insulin making cells that are located in the human body’s pancreas. Insulin plays a very important role in balancing the energy supply of micronutrient levels. Juvenile diabetes is mostly diagnosed in children and young people between 1-20 which is why […]