Personal Taxation
Everyone likes to put away a little something for the future - it is hard when every cent seems to be tagged for a purpose the minute you make it. By having someone who knows how to navigate every path in the tax system you can keep every cent to which you are entitled.
Included below are all the ways that you can earn income that is taxed both Federally and Provincially - however - we also know all the ways that you can reduce those taxes owing. We take pleasure in reading the Federal Budget updates each year that apply to individuals and make sure we apply those savings to your return.
Now, not all of these items listed may apply to you - but, it is our pleasure to show you all the ways you have to keep money in your pocket and out of the Canada Revenue coffers.
Our goal is to guide you down a path of financial success , not just for this tax season, but also to suggest direction that will bring you improved financial results in all areas for future years..
Revenue Streams
Employment Income (T4, T5018, T4A, etc.)
Trust Income (T3)
Pension Benefits – including OAS and CPP (T4A & T4A OAS & T4 AP)
Employment insurance benefits (T4E)
Foreign income
Interest and dividends (T5)
Workers Compensation or Social Assistance (T5007)
Sale of stocks, bonds, or real estate creating Capital Gains
Spousal support received
RRSP Withdrawals (T4 RSP)
Rental Income
Business, farm, or fishing income
Investment Income (T5008)
Partnership Income (T5013)
Self-Employment Income
Tax Deductions
RRSP and RPP Contributions
Child Care Expenses
Union or professional dues
Moving expenses
Spousal support paid
Carrying charges and interest expenses
Spouse or eligible dependent credit
Age or pension credit
Disability credit/Disability supports deduction
Charitable and/or Political donations
Employment Expenses
Stock options and shares deductions
Northern Residents Deduction
Clergy Residents Deduction
Business Investment Loss current and previous cumulative
Adoption Expenses
Caregiver Amounts
Rental investment expenses – mortgage, utilities, maintenance etc.
Disability Deduction
Medical Expenses
Tuition Fees and Education Credit
Interest on Student Loans