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.Sharpen Your Tax Investigative and Research Skills
At tax time your clients are counting on you to prepare an accurate tax return that will provide them with the maximum benefit. Learn how to dig deeper on a line-by-line basis with T1 Professional Tax Preparation – Advanced.
When Should You Draw from CPP?
Should you draw from the CPP early?
Winn$tock – Think Big for a Great Cause
Just a few more days until Winn$tock and to join Knowledge Bureau in helping raise $100,000 in support of The Movement Centre of Manitoba.
Update: Three Tax Filing Deadlines Include T1135 Form
On February 28, 2014, CRA – recognizing the difficulties of meeting the filing requirements necessary for the completion of form T1135 – Foreign Income Verification Statement required by Canadian Taxpayers – eased the reporting requirements and extended the filing due date to July 31, 2014.
Canada Responsible for Own Economic Growth
Canada has weathered the global financial crisis well because of its inflation policies, a resilient financial system, and timely fiscal stimulus.
Director Held Personally Liable
Can directors and officers be held personally responsible for the actions or omissions of their companies? The answer was yes in the case of Shoppers Drug Mart Inc. v 6470360 Canada Inc.
