Tax Planning

Tax Planning Centre
Basic to advanced planning options

For many of us, thinking about our income taxes, much less doing our own tax returns, is about as appealing as getting a root canal. That said, it pays to take some time to familiarize yourself with Canada's tax system.
In fact, with a little effort, you may be able to ring up some substantial tax savings. That's because knowing how the tax system works gives you a powerful advantage in benefitting from the many legitimate opportunities for minimizing income tax payments. A good way to begin is to dig out your last tax return to see how much tax you actually paid. Ouch!
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We encourage you to explore the links in the right sidebar. They'll take you to articles with answers to many common tax questions. You'll also find information and ideas that will help you plan a more effective tax strategy for you and your family. If you have any questions, send us an email and we would be pleased to help.

What's New

2021 Federal Budget Highlights

On April 19, 2021, Canada's Finance Minister, the Honourable Chrystia Freeland, tabled the first federal budget in two years.

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2020 Tax Changes

Each year brings changes to the tax code. Here's a summary of the most significant federal tax changes that may affect your 2020 Personal Tax filing.

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CRA Confirms Paying Fees Outside of RRSP or TFSA Accounts
Not an Advantage

After nearly three years, the uncertainty has ended for investors who pay the management fees on registered accounts like RRSPs and TFSAs from outside those accounts.

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CRA Updates Principal Residence Folio

The ability to claim the principal residence exemption (PRE) on the sale of a home is one of the most valuable tax-reduction strategies many Canadians will ever use. Read the CRA update.

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New Federal Trust Rules

Effective January 2, 2016, the federal government changed the rules governing trusts. If your estate plan included trusts in your existing will(s) or gifts to registered charities, you may need to revise your strategy.

Understanding New Federal Trust Rules

Related Information

Tax Changes

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