Input Tax Credits
As a new GST/HST registrant, it is important that you understand the importance and mechanics of claiming input tax credits (ITC) as part...
top of page
free consultation
Free initial consultation upto 20 minutes
free consultation
Free initial consultation upto 20 minutes
1/4
Search
info@gytdcpa.com
- Aug 23, 2022
- 4 min
Quick Method of Accounting for GST/HST
Section 227 of the Excise Tax Act and the Streamlined Accounting (GST/HST) Regulations provide small businesses and eligible public...
8 views0 comments
info@gytdcpa.com
- Aug 23, 2022
- 3 min
When to Register for GST/HST
Anybody doing business in Canada may be required to collect and remit sales taxes. Whether you are an individual, a corporation or even a...
5 views0 comments
info@gytdcpa.com
- Aug 23, 2022
- 3 min
Henson Trust
Supporting a loved one with a disability is a challenging responsibility with many considerations. Ensuring their needs are taken care of...
6 views0 comments
info@gytdcpa.com
- Aug 23, 2022
- 5 min
Tax on Split Income
Individuals in Canada are subject to tax at marginal rates. Our tax rates increase in accordance with our taxable income. As a result, it...
6 views0 comments
info@gytdcpa.com
- Aug 23, 2022
- 2 min
Pension Income Splitting
Spouses or common-law partners may qualify to split eligible pension income. Pension income splitting can significantly reduce combined...
3 views0 comments
info@gytdcpa.com
- Aug 18, 2022
- 3 min
Registered Disability Savings Plans
Registered disability savings plans (RDSP) are a great tool to assist Canadians with disabilities and their families. These plans offer...
4 views0 comments
info@gytdcpa.com
- Aug 18, 2022
- 2 min
Preferred Beneficiary Election
Supporting a loved one with a disability is a challenging responsibility with many considerations. Ensuring their needs are taken care of...
62 views0 comments
info@gytdcpa.com
- Aug 18, 2022
- 2 min
Qualified Disability Trust
Supporting a loved one with a disability is a challenging responsibility with many considerations. Ensuring their needs are taken care of...
3 views0 comments
info@gytdcpa.com
- Aug 18, 2022
- 2 min
Inter Vivos Trusts
An Inter Vivos Trust is a trust created by a person during their lifetime. As it involves a transfer of an asset or assets to the trust,...
2 views0 comments
info@gytdcpa.com
- Aug 17, 2022
- 4 min
Wills and Probate Planning
Planning for our deaths is imperative to protect our assets and our families. This is a conversation that we prefer to delay for as long...
3 views0 comments
info@gytdcpa.com
- Aug 17, 2022
- 1 min
Testamentary Trusts
A testamentary trust, as defined under subsection 108(1) in the Income Tax Act, is a trust that arose “on and as a consequence of the...
5 views0 comments
info@gytdcpa.com
- Aug 17, 2022
- 3 min
Tax-Free Savings Account (TFSA)
The Tax-Free Savings Account (TFSA) was introduced in 2009 yet is often misunderstood and underutilized. It can play a pivotal role in...
2 views0 comments
info@gytdcpa.com
- Aug 17, 2022
- 3 min
RRSP Over-Contributions
Generally, RRSP contribution room is based on 18% of a taxpayer’s prior year’s earned income up to a maximum ($29,210 for 2022) less the...
15 views0 comments
info@gytdcpa.com
- Aug 17, 2022
- 4 min
Registered Retirement Savings Plan (RRSP)
The Registered Retirement Savings Plan (RRSP) is the most well-known and commonly used retirement account in Canada. Most working-age...
5 views0 comments
info@gytdcpa.com
- Aug 17, 2022
- 3 min
Registered Education Savings Plans
One of many important tasks parents face in the modern world is saving for their child’s post-secondary education. As with most financial...
4 views0 comments
info@gytdcpa.com
- Aug 17, 2022
- 2 min
Refinancing of Prescribed Rate Loan—Income Splitting
The overall tax savings related to this strategy are partially diminished by the amount of tax you pay at a high rate on interest...
2 views0 comments
info@gytdcpa.com
- Aug 11, 2022
- 4 min
Prescribed Rate Loans—Income Splitting
You might be wondering if you could save taxes by transferring assets into the name of your child. Such planning is commonly referred to...
5 views0 comments
info@gytdcpa.com
- Aug 11, 2022
- 2 min
Inherited Property
A capital gain occurs when you dispose of property for more than its cost. The calculation of this gain is often very simple. If you...
2 views0 comments
info@gytdcpa.com
- Aug 11, 2022
- 3 min
Death of a Taxpayer
Losing a loved one is always a difficult experience. The legal representative of the estate has additional responsibilities to ensure...
2 views0 comments
bottom of page