Beware of using your corporation’s income to pay personal expenses.

by Roberto Belingueres | Nov 21, 2021 | Advisory, Articles & Publications, Taxes

Beware of using your corporation’s income to pay personal expenses. Suppose you own an incorporated business or professional corporation. In that case, it can be pretty tempting to pay for various personal expenses out of your corporation’s income, but...

How the principal residence rule works

by Roberto Belingueres | Nov 21, 2021 | Advisory, Articles & Publications, Taxes

Principal Residence Rules Since 1982, each family unit (including you, your spouse or common-law partner, and any unmarried kids under the age of 18) has been able to designate one property as its principal residence for each calendar year. To simplify the...

Introducing the new Confirm my Representative service

by Roberto Belingueres | Oct 18, 2021 | Articles & Publications, Taxes

The new Confirm my Representative service. On October 18, 2021, the Canada Revenue Agency (CRA) is introducing a new, two-step verification process to make authorizing a representative using Represent a Client more efficient and secure. The new process makes it easier...

The future of the COVID aid program

by Roberto Belingueres | Oct 18, 2021 | Articles & Publications, Covid

The future of the COVID aid program The CRB is one of three programs (alongside the Canada Recovery Caregiving Benefit and the Canada Recovery Sickness Benefit) that replaced the initial $2,000-per-month Canada Emergency Response Benefit (CERB) in September 2020. The...

RRSP/RRIF and non-registered investments

by Roberto Belingueres | Oct 15, 2021 | Advisory, Articles & Publications, Taxes

Drawing from your RRSP/RRIF and non-registered investments. It often helps to think in terms of family wealth and tax efficiency. One of the most asked questions the newly retired or those about to retire have is: “When should I start drawing from my registered...

Strategies to consider when buying a second property

by Roberto Belingueres | Oct 15, 2021 | Advisory, Articles & Publications, Taxes

Strategies to consider when buying a second property. There are three common types of second properties people are looking at when they wish to buy a second property: cottages, income properties and U.S. real estate. COTTAGE PROPERTIES If you’ve been looking to...