A foreign tax credit is available to any taxpayer who has been a resident of Canada and earned worldwide income at any time during the tax year. The income can be from employment earnings, business or rental income, investment income, or a pension from another country. The cas...

As per the Government of Canada, for the most part, people living in Canada can determine their final tax obligation by completing an income tax return and sending it to the Canada Revenue Agency (CRA). On the tax return, you list your earnings and deductions, calculate federa...

Day in and day out thousands of hardworking individuals around Canada are working to make a living. Whether it be through employment, self-employment, or business activities many people find themselves owing money to the CRA for one reason or another. Whether this is the first...

When we meet with clients who come in looking to file their personal tax returns, the first thing we check with every individual is what items are applicable to their tax situation and that they have the documentation to be able to apply those items on the return. It’s importa...

Bitcoin is currently the most notable digital currency. Although Bitcoins only exists in a digital form, it still provides the normal functions of other types of currency. However, unlike other common currencies such as the US Dollar, Bitcoin is not come from a Central Bank or...

Is your Toronto based business on the brink of financial distress? Are you thinking of officially closing your Toronto business and claiming bankruptcy? Do you owe a lot of debt to your suppliers? Are you in arrears on your tax payments to the Canada Revenue Agency? Is your in...