Genymoney.ca: Make the Most of your Money
Looking for tax minimization tips for your Canadian investments? Here are some posts on how to avoid taxes in Canada, especially on your investment income, which is typically income you’ve paid income taxes on already!
These tax minimization strategies and tax planning strategies will help you keep more of your hard earned investing money. Take advantage of tax efficient Canadian dividends and utilize capital gains to your advantage. Although these are not Canadian tax loopholes, some of these tax deductible investments (such as an RRSP) can help you save money.
After all, taxes are one of the most expensive expenses that we pay in Canada.
After spending a lot of hours pouring over my taxes this year, I decided to try out paying my taxes with a credit card! Paying CRA taxes with a credit card is definitely possible and there are some drawbacks (e.g. fees), however in some cases …
Read morePaying CRA Taxes With a Credit Card (PaySimply vs Plastiq)
After 30 or so hours of getting my taxes ready for filing this year and feeling pretty smug for finishing ahead of schedule, I found out that I needed to complete the T1135 form. Or else I would face a hefty T1135 late filing penalty …
If I had the opportunity to redo my whole investing portfolio and start over again, my portfolio would look different than what it looks like now. Over time I learned better ways to have a more tax-efficient portfolio and the ‘scars’ (I couldn’t think of …
You may have probably heard that you can earn up to $60,000 in Canadian dividend income, completely tax free if you don’t have any other sources of income in certain provinces, for example, here in British Columbia. Amazing isn’t it? However not all dividend income …
It’s tax season and taxes are due very soon in Canada. Here are some of the best tax filing software in Canada. Why are they the best? Mainly because most of these tax filing programs are free. When are taxes Due in Canada? Personal tax …
Here are some blogging tax deductions in Canada to remember, when it comes tax time. Starting a monetized blog may seem easy when you read those posts on “How to Start a Profitable Blog” with the Bluehost affiliate link, but in actual fact, it takes …
Read more14 Blogging Tax Deductions in Canada (You Shouldn’t Forget)
I received a T5008 from my brokerage indicating that I had proceeds of disposition to report for my taxes. I thought they must have made a mistake because I didn’t remember selling anything. Then I remembered I transferred some shares in kind from my non-registered …
Read moreCapital Gains Tax Rate in Canada: Keeping it Simple