Taxes

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Borrowing to invest? The CRA just clarified the rules on interest deductibility

Borrowing to invest? The CRA just clarified the rules on interest deductibility

Jamie Golombek: New case examples help clarify which investments meet the ‘earning income’ test https://financialpost.com/personal-finance/cra-clarifies-rules-interest-deductibility #financialfreedom #money #entrepreneur #business #finance #investing #financialliteracy #success #investment #wealth #motivation #financialindependence #passiveincome #personalfinance #realestate #stockmarket #debtfree #entrepreneurship #invest #bitcoin #creditrepair #debtfreecommunity #investor #trading #workfromhome #stocks #credit #financialeducation #bhfyp

Borrowing to invest? The CRA just clarified the rules on interest deductibility Read More »

Canadians are wasting money and losing productivity to deal with recent tax changes

Canadians are wasting money and losing productivity to deal with recent tax changes

A mountain of new draft tax legislation from the Department of Finance does nothing to simplify the tax system https://financialpost.com/personal-finance/taxes/kim-moody-canadians-wasting-money-productivity-recent-tax-changes #financialfreedom #money #entrepreneur #business #finance #investing #financialliteracy #success #investment #wealth #motivation #financialindependence #passiveincome #personalfinance #realestate #stockmarket #debtfree #entrepreneurship #invest #bitcoin #creditrepair #debtfreecommunity #investor #trading #workfromhome #stocks #credit #financialeducation #bhfyp

Canadians are wasting money and losing productivity to deal with recent tax changes Read More »

Details on capital gains changes finally released, but Canada is still in bad shape

Details on capital gains changes finally released, but Canada is still in bad shape

Kim Moody: Draft legislation comes almost two weeks later than promised https://financialpost.com/personal-finance/taxes/trudeau-details-changes-capital-gains-rates #financialfreedom #money #entrepreneur #business #finance #investing #financialliteracy #success #investment #wealth #motivation #financialindependence #passiveincome #personalfinance #realestate #stockmarket #debtfree #entrepreneurship #invest #bitcoin #creditrepair #debtfreecommunity #investor #trading #workfromhome #stocks #credit #financialeducation #bhfyp

Details on capital gains changes finally released, but Canada is still in bad shape Read More »

CRA wins in court as woman fails to justify RRSP overcontribution

CRA wins in court as woman fails to justify RRSP overcontribution

Ordered to pay penalty and tax agency’s costs https://financialpost.com/personal-finance/cra-wins-court-rrsp-overcontribution #financialfreedom #money #entrepreneur #business #finance #investing #financialliteracy #success #investment #wealth #motivation #financialindependence #passiveincome #personalfinance #realestate #stockmarket #debtfree #entrepreneurship #invest #bitcoin #creditrepair #debtfreecommunity #investor #trading #workfromhome #stocks #credit #financialeducation #bhfyp

CRA wins in court as woman fails to justify RRSP overcontribution Read More »

Are Canadians getting enough value for their tax dollars? The emphatic answer is ‘no‘

Are Canadians getting enough value for their tax dollars? The emphatic answer is ‘no‘

Kim Moody: CRA’s headcount has jumped almost 50% since 2015, but service still lacking https://financialpost.com/personal-finance/canadians-not-getting-enough-value-for-tax-dollars #financialfreedom #money #entrepreneur #business #finance #investing #financialliteracy #success #investment #wealth #motivation #financialindependence #passiveincome #personalfinance #realestate #stockmarket #debtfree #entrepreneurship #invest #bitcoin #creditrepair #debtfreecommunity #investor #trading #workfromhome #stocks #credit #financialeducation #bhfyp

Are Canadians getting enough value for their tax dollars? The emphatic answer is ‘no‘ Read More »

Capital gains tax hike expected to raise .4 billion, but critics warn of economic fallout

Capital gains tax hike expected to raise $17.4 billion, but critics warn of economic fallout

Gains to government coffers come at expense of entrepreneurs and middle class, say opponents https://financialpost.com/personal-finance/taxes/capital-gains-tax-overhaul-projected-to-raise-17-4-billion-but-critics-warn-of-economic-fallout #financialfreedom #money #entrepreneur #business #finance #investing #financialliteracy #success #investment #wealth #motivation #financialindependence #passiveincome #personalfinance #realestate #stockmarket #debtfree #entrepreneurship #invest #bitcoin #creditrepair #debtfreecommunity #investor #trading #workfromhome #stocks #credit #financialeducation #bhfyp

Capital gains tax hike expected to raise $17.4 billion, but critics warn of economic fallout Read More »

Estonia has a way Canada can implement better taxation policies to improve the economy and productivity

Estonia has a way Canada can implement better taxation policies to improve the economy and productivity

Kim Moody: A corporation in Estonia pays zero corporate tax unless and until profits are distributed to its shareholders https://financialpost.com/personal-finance/taxes/estonia-canada-tax-policies-improve-economy-productivity #financialfreedom #money #entrepreneur #business #finance #investing #financialliteracy #success #investment #wealth #motivation #financialindependence #passiveincome #personalfinance #realestate #stockmarket #debtfree #entrepreneurship #invest #bitcoin #creditrepair #debtfreecommunity #investor #trading #workfromhome #stocks #credit #financialeducation #bhfyp

Estonia has a way Canada can implement better taxation policies to improve the economy and productivity Read More »

Commercial realtors cite capital gains tax as reason for last month’s record sales

Commercial realtors cite capital gains tax as reason for last month’s record sales

Changes prompted a wave of asset sales as owners rushed to divest before the new tax implications took hold https://financialpost.com/real-estate/property-post/capital-gains-tax-record-commercial-real-estate-sales #financialfreedom #money #entrepreneur #business #finance #investing #financialliteracy #success #investment #wealth #motivation #financialindependence #passiveincome #personalfinance #realestate #stockmarket #debtfree #entrepreneurship #invest #bitcoin #creditrepair #debtfreecommunity #investor #trading #workfromhome #stocks #credit #financialeducation #bhfyp

Commercial realtors cite capital gains tax as reason for last month’s record sales Read More »

Canadian politicians need better financial training

Canadian politicians need better financial training

Kim Moody: Not much has been done to ensure the average Canadian is well-informed and educated about financial matters https://financialpost.com/personal-finance/taxes/canadian-students-politicians-need-better-financial-training #financialfreedom #money #entrepreneur #business #finance #investing #financialliteracy #success #investment #wealth #motivation #financialindependence #passiveincome #personalfinance #realestate #stockmarket #debtfree #entrepreneurship #invest #bitcoin #creditrepair #debtfreecommunity #investor #trading #workfromhome #stocks #credit #financialeducation #bhfyp

Canadian politicians need better financial training Read More »

What Is Tax Fraud?

What Is Tax Fraud?

Looking for legitimate ways to reduce your tax bill is practically an Olympic sport. But intentionally lying to the IRS, or failing to file or pay your tax bill, isn’t fun: It’s tax fraud. Tax fraud happens when a taxpayer willfully misrepresents the facts or otherwise tries to evade paying taxes they owe or believe

What Is Tax Fraud? Read More »

Taxpayer gets burned after blindly relying on CRA’s website info

Taxpayer gets burned after blindly relying on CRA’s website info

If you overcontribute, the CRA charges a penalty tax of one per cent for every month that any excess contributions stay in your account https://financialpost.com/personal-finance/taxpayer-burned-relying-cra-website-info #financialfreedom #money #entrepreneur #business #finance #investing #financialliteracy #success #investment #wealth #motivation #financialindependence #passiveincome #personalfinance #realestate #stockmarket #debtfree #entrepreneurship #invest #bitcoin #creditrepair #debtfreecommunity #investor #trading #workfromhome #stocks #credit #financialeducation #bhfyp

Taxpayer gets burned after blindly relying on CRA’s website info Read More »

If you think Indigenous people don’t pay tax, think again

If you think Indigenous people don’t pay tax, think again

Jamie Golombek looks at a recent case that dealt with the exemption and how it is applied https://financialpost.com/personal-finance/taxes/court-finds-indigenous-womans-income-taxable #financialfreedom #money #entrepreneur #business #finance #investing #financialliteracy #success #investment #wealth #motivation #financialindependence #passiveincome #personalfinance #realestate #stockmarket #debtfree #entrepreneurship #invest #bitcoin #creditrepair #debtfreecommunity #investor #trading #workfromhome #stocks #credit #financialeducation #bhfyp

If you think Indigenous people don’t pay tax, think again Read More »

Tax on home equity is latest proposal in Liberals’ bogeyman approach to housing

Tax on home equity is latest proposal in Liberals’ bogeyman approach to housing

Kim Moody: Target is older Canadians who have paid off their homes and have the good fortune of capital appreciation https://financialpost.com/personal-finance/taxes/tax-home-equity-latest-liberal-housing-bogeyman #financialfreedom #money #entrepreneur #business #finance #investing #financialliteracy #success #investment #wealth #motivation #financialindependence #passiveincome #personalfinance #realestate #stockmarket #debtfree #entrepreneurship #invest #bitcoin #creditrepair #debtfreecommunity #investor #trading #workfromhome #stocks #credit #financialeducation #bhfyp

Tax on home equity is latest proposal in Liberals’ bogeyman approach to housing Read More »

You may qualify for this valuable tax credit without even knowing it

You may qualify for this valuable tax credit without even knowing it

Jason Heath: Onus is on taxpayer to show they are eligible for disability tax credit https://financialpost.com/personal-finance/qualify-disability-tax-credit #financialfreedom #money #entrepreneur #business #finance #investing #financialliteracy #success #investment #wealth #motivation #financialindependence #passiveincome #personalfinance #realestate #stockmarket #debtfree #entrepreneurship #invest #bitcoin #creditrepair #debtfreecommunity #investor #trading #workfromhome #stocks #credit #financialeducation #bhfyp

You may qualify for this valuable tax credit without even knowing it Read More »

Thinking about leaving Canada? Here are the financial considerations you need to know

Thinking about leaving Canada? Here are the financial considerations you need to know

Leaving Canada without prudent planning could see assets taxed at rates of more than 50 per cent https://financialpost.com/personal-finance/leaving-canada-need-to-know #financialfreedom #money #entrepreneur #business #finance #investing #financialliteracy #success #investment #wealth #motivation #financialindependence #passiveincome #personalfinance #realestate #stockmarket #debtfree #entrepreneurship #invest #bitcoin #creditrepair #debtfreecommunity #investor #trading #workfromhome #stocks #credit #financialeducation #bhfyp

Thinking about leaving Canada? Here are the financial considerations you need to know Read More »

Canada’s income tax regime is confusing even to experts and a review is long overdue

Canada’s income tax regime is confusing even to experts and a review is long overdue

Kim Moody: Canadians have a chance to push for a change in our unnecessarily complex income tax system https://financialpost.com/personal-finance/taxes/canada-income-tax-confusing-review-overdue #financialfreedom #money #entrepreneur #business #finance #investing #financialliteracy #success #investment #wealth #motivation #financialindependence #passiveincome #personalfinance #realestate #stockmarket #debtfree #entrepreneurship #invest #bitcoin #creditrepair #debtfreecommunity #investor #trading #workfromhome #stocks #credit #financialeducation #bhfyp

Canada’s income tax regime is confusing even to experts and a review is long overdue Read More »

Positives about the capital gains inclusion rate hike? Yep, here are three

Positives about the capital gains inclusion rate hike? Yep, here are three

Kim Moody: Anytime you can get the general public talking about taxation it’s a good thing https://financialpost.com/personal-finance/taxes/capital-gains-tax-hike-three-positives #financialfreedom #money #entrepreneur #business #finance #investing #financialliteracy #success #investment #wealth #motivation #financialindependence #passiveincome #personalfinance #realestate #stockmarket #debtfree #entrepreneurship #invest #bitcoin #creditrepair #debtfreecommunity #investor #trading #workfromhome #stocks #credit #financialeducation #bhfyp

Positives about the capital gains inclusion rate hike? Yep, here are three Read More »

The CRA is watching how often you trade marketable securities in your TFSA

The CRA is watching how often you trade marketable securities in your TFSA

Frequent trading in a TFSA has been a focus area for the CRA’s audit and reassessment activities https://financialpost.com/investing/cra-watches-marketable-securities-tfsa #financialfreedom #money #entrepreneur #business #finance #investing #financialliteracy #success #investment #wealth #motivation #financialindependence #passiveincome #personalfinance #realestate #stockmarket #debtfree #entrepreneurship #invest #bitcoin #creditrepair #debtfreecommunity #investor #trading #workfromhome #stocks #credit #financialeducation #bhfyp

The CRA is watching how often you trade marketable securities in your TFSA Read More »

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