Kiddie Tax

January 02, 2025

The “kiddie tax,” detailed in Section 120.4 of the Canadian Income Tax Act, applies to income earned...

Automobile Expense Deduction for Canadian Income Tax Purposes

January 02, 2025

In Canada, both employees and self-employed individuals may qualify to deduct certain automobile exp...

How Severance Pay is Taxed in Canada

January 02, 2025

Severance pay is compensation provided to employees upon termination of employment. While it offers...

Tax Deductions for Spousal Sup

January 02, 2025

If you are paying spousal support, you may be eligible to deduct the payments from your income, whil...

Child Support: Deductions and Tax Credit Implications

January 02, 2025

When a child’s parents belong to separate households, one (or sometimes both) parent(s) often make c...

Canadian Controlled Private Corporation (CCPC)

January 02, 2025

Many corporations in Canada qualify as Canadian Controlled Private Corporations (CCPCs), a designati...