For most Canadians, the new requirement to report the sale of a principal residence will be nothing more than a compliance exercise—but one shadowed by the threat of unrestricted audits and sizeable penalties. To help you negotiate through the new reporting rules, please see the 8 questions you have about principal residence tax rules. But…
Improving Employment Insurance (EI) is part of the Government’s plan to help the middle class and those seeking to join it. The Government of Canada says that it wants Employment Insurance to be there for Canadians who need help the most, when they need it. You can check out the changes on their website at this…
In January 2017, MSP premium rates and the Regular Premium Assistance program are changing. As a result, more British Columbians will be eligible for assistance with their MSP premiums. On Sept. 15, 2016, the government of British Columbia announced updates to the previously published 2017 MSP premium and Regular Premium Assistance rates. The planned 4%…
On October 3, 2016, Canada’s Federal Government announced an administrative change to Canada Revenue Agency’s reporting requirements for the sale of a principal residence. When you sell your principal residence or when you are considered to have sold it, usually you do not have to report the sale on your income tax and benefit return…