This Month’s Poll
The automobile deduction limits raised — the CCA ceiling for passenger vehicles to $39,000 plus tax for 2026. In your opinion, is that high enough?Life Purpose
"You are never too old to set another goal or to dream a new dream." C. S. Lewis
TFSA Contribution Limit for 2017
The annual TFSA contribution room is indexed to the consumer price index (CPI), but the contribution limit is increased only in increments of $500.
Capital Gains Exemption on Small Business Shares Increases
Indexation has increased the capital gains exemption available on the sale of qualified small business shares in 2017 by an additional $11,540, to $835,716. The capital gains exemption on the sale of qualified farm or fishing property remains at $1,000,000.
Moving Soon? Keep Receipts for a Lucrative Deduction
If December is moving month for you, three pieces of advice: tax a deep breath, treat yourself to some extra eggnog, and keep those moving expense receipts handy. They will be worth a lot of money when you file your tax return.
November’s Poll: Beware of Increased CRA Scrutiny on Sale of Principal Residences
Knowledge Bureau’s November poll was a no-doubter. An overwhelming majority of 87% answered yes to the question: “Do you agree that the new reporting changes for 2016 will result in significant audit activity on the disposition of principal residences?”
Get Ready for Tax Season as a DFA- Tax Services Specialist™
There is a growing demand for qualified tax specialists in the financial services sector. Knowledge Bureau’s DFA- Tax Services Specialist program™ will allow you to tap into this profitable career path and build your own professional practice. All it takes is six in-depth courses (180 hours) to earn your DFA-Tax Services Specialist™ designation, and you can get started immediately.
