Search Results for ‘tax strategy’

Hello, I have a question about my wives Home Buyers Plan (HBP) for her 2019 taxes. She has an outstanding balance of roughly $10K to the HBP, and about 10 years to repay it. We are now a single income family, her income is $0. Are there any tax strategies to get around her HBP repayments now...

Hello Forum Members I am new to this forum and would like to share my article on Dividends vs Salary If you have set up your small business as a corporation, you have a choice as to how to pay yourself. Usually Owner-managers want to withdraw cash from their corporations throughout the year and...

Hello, I incorporated my company in Canada at Federal level and also registered it with Quebec government, because the company operates in Quebec. I did it in September 2016. As per the accountant I consultated casually at the time, I'm free to decide what's my fiscal year and file my tax...

I have a friend who wants to help me with my contracts. We live in BC and are trying to setup a configuration that works best when it comes to taxes. What we have in front of us are the following options: Each of us forms a Sole Proprietorship and get paid directly by clients Each of us forms...

Hello, Quick question for anyone willing to take a look... Let's say Im retired, I have investment savings and a rental property. Can I use the equity in my investment property to draw as retirement monthly income? Let's say I put a HELOC on it - Is the tax deductible in this case? Thanks, G