Insights
Practical tax and money answers for Canadian owners and professionals, written by the accountants who file the returns.
Lifetime Capital Gains Exemption: A Comprehensive Guide for Property Sellers
Discover essential information about Records of Employment (ROEs) in Canada, including issuance, form details, dismissal codes, and where to get help.
Borrowing to Invest? The CRA Just Clarified the Rules on Interest Deductibility
Discover the latest updates from the CRA on interest deductibility. Learn which investments qualify under the income-earning test and how these changes might affect your tax strategy.
Mastering GST/HST Payments in Canada: A Complete Guide for Small Business Owners
Explore the First Home Buyers Tax Credit (HBTC) and learn how this valuable tax benefit can ease the financial burden of purchasing your first home in Canada. From eligibility criteria to maximizing your claim, get expert insights to make your homeownership journey smoother.
Line 31270 First Home Buyers Tax Credit: What It Means for You
Explore the First Home Buyers Tax Credit (HBTC) and learn how this valuable tax benefit can ease the financial burden of purchasing your first home in Canada. From eligibility criteria to maximizing your claim, get expert insights to make your homeownership journey smoother.
Canadian Tax Deadlines 2026-2027: Every Date That Matters
Canadian Tax Deadlines 2026-2027: Every Date That Matters Key takeawaysApril 30 is the date that catches most people: it is both the filing deadline and the payment deadline for individuals.Self-employed people get until June 15 to file, but not to pay. Interest runs...
Understanding the Climate Action Incentive Rebate for 2024
Climate Action Incentive Payments (CAIP), now Canada Carbon Rebate (CCR), are Canada’s approach to motivate citizens towards a greener lifestyle. Learn who’s eligible, when payments are made, and how much you can expect to receive.
CRA Mileage Rate in Canada and CRA Mileage Calculator
Understand the CRA mileage rate in Canada for 2023 and 2024. This guide covers eligibility, how to calculate mileage rates, and the benefits for employees and employers. Stay informed about the latest rates and ensure accurate claims for your business-related travel.
Claiming rent on taxes and rent tax return in canada
Discover how to claim the new $400 renter’s tax credit in B.C. for 2023. Learn about eligibility, requirements, and the step-by-step process to get your credit on your T1 Income Tax and Benefit Return.
How Do I Make a Payment to the CRA?
Making a payment to the Canada Revenue Agency (CRA) is now more convenient than ever with multiple options available. From online banking and CRA’s My Payment service to pre-authorized debits and credit card payments, taxpayers can choose the method that best suits their needs. In-person payments can also be made at Canadian banks or Canada Post outlets using personalized remittance vouchers or QR codes. Explore these options to manage your tax obligations efficiently. For more details, visit Ghumans.ca
Maximizing Your Tax Savings: A Comprehensive Guide for Canadians
Explore the best tax-saving strategies tailored for Canadians. From filing on time to maximizing deductions and credits, this guide covers everything you need to know to minimize your tax bill and maximize your savings.
Important Tax Changes in Canada for 2024
2024 taxes got you stressed? Relax! This guide breaks down key changes affecting Canadians, from Airbnb restrictions in major cities to therapy becoming more affordable. Plus, contribution limits for popular savings accounts like TFSAs and RRSPs have been adjusted. Get informed, make smart financial decisions, and potentially save some serious cash this year!
How Should Canadians Calculate Tax on Dividend Income?
In Canada, all sources of income must be disclosed in your tax returns, including dividends from investments. This guide explains how dividends are taxed, the Federal Dividend Tax Credit, and the different types of dividends. Learn how to accurately report your dividend income and maximize your tax credits with our expert tips.