Tax Planning

Canada’s luxury tax adds a significant cost to any vehicle purchase above $100,000, but knowing the right strategies can save you thousands of dollars whether you buy or lease. The tax is calculated as the lesser of 10% of the total vehicle price or 20% of the amount above $100,000. This makes it a substantial…

Relocating to a new city or province can be a daunting process, especially when it’s for a new job or business opportunity. The good news is that the Canada Revenue Agency (CRA) allows you to claim certain moving expenses on your tax return. This can help offset some of the costs associated with your move,…

When you leave Canada, your child’s RESP does not automatically close, but it becomes a serious financial and tax concern almost immediately. The moment you become a non-resident, government grants may need to be repaid, tax implications shift, and your financial institution may ask you to close the account entirely. Understanding these changes before you…