In Canada, just as in most countries around the world, a person who is entitled to enjoy all the rights, privileges, and opportunities provided by the government of a sovereign country or province and also owes allegiance is known as a citizen. Canadian citizens enjoy the rights and privileges provided under the law governing the …
As anyone looking for houses might already know, the housing market is insane right now. If you’re looking for a house in Canada, the average is $716,000. While that figure might be reachable to some people, the fact is that most people who are moving to another location may need to consider renting for the …
The chances are that right now, several people are thinking of starting a business in Ontario. That’s not surprising, given the number of astounding new businesses launched in Canada yearly. Around 95,000 new businesses pop into Canada every year,, and many fail without the proper know-how. On average, 96,580 businesses were created annually (from 2013-2017), …
Step-by-Step Guide to Starting a Business in Ontario in 2023 Read More »
As of the time of writing this piece, the basic federal corporate tax rate, established by the Canadian Income Tax Act, is 38 percent of a corporation’s taxable revenue. Under the same act, the federal rate is reduced by ten percent if they earn income in a Canadian province. However, for reasons of tax policy, …
The Small Business Deduction in Canada: Eligibility and Benefits Read More »
Home to over 536000 residents, Hamilton is located about 1 hour south of Toronto. Sitting just next to the beautiful city of Burlington, Hamilton is a great place to live, work, and raise a family. If you choose to move to Hamilton, you’ll want to consider property taxes. Property taxes are paid yearly and can …
A Guide to Property Tax in Hamilton, Ontario: Understanding the Rates and Regulations Read More »
With Tax Season rolling in, you may consider saving a few dollars and doing your tax return. But to the untrained eye, filling out tax returns can be stressful and complicated. Luckily, we’re here to help. And we’re starting with the question, “What is Line 10100 on my Tax Return?” What is Line 10100 on …
Line 10100 on Your Canadian Tax Return: A Complete Explanation Read More »
Two terms that often come up in property ownership in Canada are Joint Tenants and Tenants in Common. While they might seem similar, they’re different. We’ll review each of these terms to help you understand their differences. What is Joint Tenancy? Joint tenancy, or joint tenancy with right of survivorship (JTWROS) in full, refers to …
Joint Tenants vs. Tenants in Common: Key Differences and Considerations Read More »
Income tax is a tax levied on individual income earners, organizations, or corporations, by the government within their jurisdiction in conformity with their income or profits. Income tax can come from wages, salaries, dividends, winnings, interests, rents, pensions, commissions, alimony, royalties, profits, capital gains, etc., within a given tax year. The income tax paid to …
Understanding Personal Income Tax in Canada: A Comprehensive Guide Read More »
Canada is a land of beautiful natural landscapes and abundant resources. The Canadian gold coin is designed to appreciate and honor its wildlife, landscape, and heritage. So, a Canadian gold coin is an excellent choice if you are looking for gold coins with unique designs and artwork. These coins come in different sizes, shapes, designs, …
The Value of a Gold Coin in Canada: A Guide for Collectors and Investors Read More »
The down payment for a home can be many thousands, and most people find it difficult to put together even a few hundred dollars for everyday things. That is why the government launched the First-Time Home Buyer Incentive (FTHBI) program in 2019. Buying your first home can be daunting, especially if you find it difficult to …
A Beginner’s Guide to the First Time Home Buyer Incentive (FTHBI) Program in Canada Read More »
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