RRSP Reminder

January 2022 –  RRSP reminder: Last day to top up or make your RSP contribution for the 2021 tax year is March 1 st 2022. The 2021 maximum RSP contribution limit is $27,830. If you’re unsure how much you can contribute, your 2020 Notice of Assessment (from the...

TFSA reminder

January 2022 – TFSA Reminder: As of January 1st we can add another $6000 to our Tax Free Savings Accounts, and replace any money taken out in previous calendar years. The cumulative TFSA contribution total as of 2022 is now $81,500. I can help you with a wide...

investing 101

January 2022 – Don’t get caught up with the media’s hype and make ill informed investment decisions with your hard earned money. Get good advice, invest in educating yourself, be realistic with your expectations and actual needs.

Home office expenses

January 2022 –  The federal government will extend the flat-rate option to allow Canadians to deduct home office expenses for the 2021 and 2022 tax years. Employees using the simplified method can now claim $500, up from $400 last year.

RDSP

December 2021 –  Contribute to a registered disability savings plan (RDSP) if you or a family member under 60 qualifies for the disability tax credit (DTC), you may be able to set up a registered disability savings plan (RDSP). An RDSP has several advantages:...