When running your own business, there are a number of income splitting opportunities. Many of these options apply whether or not the business is incorporated. You can hire your family and pay them ...Read More

Use your boat, plane, or motor home in your small business to create tax deductions. What is now a hobby, for example flying, fishing, or sailing, can be turned into a tax deductible small ...Read More

If employment earnings include commissions, you may be able to claim certain expenses for which you have not been reimbursed. Form T2200, Declaration of Employment Conditions, must be completed, signed by the employer and submitted ...Read More

When donations are made to registered charities, copies of the receipts must accompany personal tax returns. Corporations are required to list any donations with the charity registration number. The Charity Tax Credit is based on 17% ...Read More

If you have a capital gain, you have to file a tax return and show the gain. Remember to split any capital gains within your family. 50% of capital gains are taxable. Take advantage of all tax ...Read More

The questions below outline some of CRA’s criteria for trying to discredit someone from qualifying as a legitimate business. It is in the tax department’s financial benefit if you are an employee. Employees pay more ...Read More