New 30-Year Amortizations for Insured Mortgages
Effective August 1, 2024, the government will allow 30-year mortgage amortizations for first-time homeowners who purchase newly built homes. For existing mortgage holders who meet specific criteria, “permanent amortization relief” will be available to extend repayment periods for as long as they need to get to the number they can afford to pay monthly. It’s an extension from the 25-year mortgage amortizations previously allowed. However, this isn’t for everyone… there is a significant risk to lifetime wealth creation and must be managed with an eye to interest rates and payment terms to reduce the non-deductible interest costs.CRA Security Breaches: Taxpayers Must Be Able To Rely On Privacy
Canada has a taxation system that is based on self-assessment. We are required to accurately assess income, deductions and credits, filing our tax returns on time, or face penalties, interest and/or jail in serious instances.
TD1’s: 2015 Family Take Home Pay Drops
New Income Tax Estimator Can Help
Last week CRA issued the 2015 TD1 Personal Tax Credit Return and the corresponding provincial forms.
A stocking stuffer that adds up! Win a $100 Knowledge Bureau Gift Certificate
This Week: It’s a Tax Question: Win A $100 Gift Certificate
Be one of 10 recipients of a $100 gift certificate towards any Knowledge Bureau online course.
Hurry – this is the last chance to win until the new year. You can only win once - so be the first one to answer this question correctly. Here’s the question:
What is the net income amount at which the Old Age Security received by a senior is completely clawed back for 2014?
Thumbs Down: Few Pros Think Families Will Save Tax Cut Dollars
Knowledge Bureau’s November Poll Question attracted close to 200 respondents to the question: Do You Think the New Family Tax Cut Provisions will Help Canadian Families Save and Invest More for the Future?
Knowledge Bureau Designate Highlight: Patricia Bailey
Grow your business with the DFA - Tax Services Specialist™ Designation.
Join Knowledge Bureau in congratulating Patricia Bailey in achieving her DFA - Tax Services Specialist™ Designation.
Patricia Bailey DFA - Tax Services Specialist™.
"My clients are more confident in the work I do for them because of this designation"
Patricia is located in Milton, Ontario. Her company is approximately 3 years old with a growing client base.
“Achieving this designation has equipped me with the knowledge needed to grow and succeed.”
Counting Losses Counts For Cash
Disciplined investors sell at the top of a cycle and buy at the bottom.
