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5 Common Expenses for Real-Estate Investors

By: Fabio Campanella CPA, CA, CFP, CIM One of the most confusing aspects of investing in real estate are the myriad of tax rules that have developed over the years. Understanding what can and can’t be deducted against your taxable rental income is as important as any...

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The CRA’s annual Office Audit Letter Campaign

The Canada Revenue Agency (CRA) will soon be conducting its seventh annual Office Audit Letter Campaign.   This campaign targets a specific group of taxpayers that have demonstrated specific tax behaviour. This year, CRA is targeting about 30,000 taxpayers who...

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Tax Tip Tuesday: Paying Yourself a Salary vs. Dividends

Hi everybody. Welcome to Campanella McDonald's first Tax Tip Tuesday video instalment. Today we're going to talk about salaries versus dividends. So, a general rule of thumb for most small business owners is to take a salary that's large enough to max out CPP and RSP...

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How to get an HST refund when you don’t charge HST

 How to get an HST refund when you don't charge HST John Paul: Hi there, and welcome to Campanella McDonald's Tax Tip video, where today we're going to talk about zero rated HST. So this tends to – we tend to see this with people who are starting a new business. The...

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Understanding HST and Sales Taxes: Part 2

Recording, collecting and paying HST doesn’t have to be a hassle. Understanding what the CRA wants from you is the first step. In case you missed it, in our last we talked about supplies you have to charge HST on, registering for an HST account, and how to charge HST....

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How to trade stocks “tax free”

CMLLP - Oakville's Leading Accounting Firm Shares Tax Tips on How to Trade Stocks Tax Free     Here is the video transcript from "How to trade stocks tax free" John Paul: Hi there, and welcome to Campanella McDonald's Tax Tip video, where today we're going...

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Tax Tip Video: “tax loss harvesting”

"Tax loss harvesting" is a technique you can use to eliminate taxable gains in your stock portfolio by offsetting them against taxable losses. But you have to watch out for the stop-loss rules. JP and Fab explain in this video.

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Understanding HST and Sales Taxes: Part 1

HST or “Harmonized Sales Tax” is one of the main sales taxes in Canada and is used in provinces where the federal GST or “Goods and Services Tax” is combined with the provincial sales tax to form a single value added sales tax. The HST is a “value added tax” meaning...

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Common Business Expenses

Common Business Deductions: Current as of October 2015 Advertising As long as you’re advertising to a Canadian market, you can deduct the full cost, unless you’re using a foreign broadcaster (there are special rules for this). When advertising in a periodical, the...

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Tax Tip Tuesday: HST on New Build Properties

Watch the Video on HST on New Build Properties     Here is the Transcript on HST on New Build Properties John Paul: Hi there, and welcome to Campanella McDonald's Tax Tip video. Today we're going to talk about the HST application for a new build rental...

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Want a CRA audit? Just follow these 5 easy steps.

Invasion of your privacy, long hours of unpaid paperwork, paying penalties and interest. If you are a fan of such things then a CRA audit is just what the doctor ordered. Let’s face it, a CRA audit is anything from annoying to downright frightening for most people....

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