COVID-19 scam alert and how to avoid them

Business Matters – May 2020

This month covers some best practices to protect your business during COVID-19 and electronic signatures: Management – How to avoid common scams during COVID-19; Taxation – Understanding COVID-19 federal government support; Technology – Understanding digital and electronic signatures; Wealth Management – Investment market update: What happened?   Management How to avoid common scams during COVID-19 Imran Ahmad, LL.B, LL.M As most of the Canadian workforce has now moved to remote work in response to the …

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Converting your Home into a Rental Property

Converting your Home into a Rental Property (or vice versa)? Did you Know there are Tax Consequences to Consider?

A change in use occurs when your property is changed from income producing to personal use (for example:  moving into a property that you have previously used as a rental property) or when it is changed from personal use to income producing (for example: changing your principal residence to a rental property). In addition, the change in use can be for 100% of the property or just a portion of the property (for example: changing …

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Top Individual Tax Planning Tips

Top Individual Canadian Tax Planning Tips

Everyone wants to reduce their income tax burden.  So you may be asking yourself, what are the best tax planning ideas for Canadian taxpayers? PENSION INCOME SPLITTING Canadians with eligible pension income that qualifies for the pension tax credit can allocate up to half of this income to their spouse or common law partner.  Tax planning includes determining the optimal allocation that reduces taxes while limiting the impact on Old Age Security benefits. RRSPS RRSPs …

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