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Canada Tax Tips

Why Should I File A Tax Return?

April 28, 2018

Filing a tax return may seem unnecessary, especially if you have little or no income and no tax to pay. However, taxpayers should understand that filing a tax return is not only about reporting one’s earned income, but also about being able to claim the various tax credits and deductions available. The following is a...

Canada Tax

CRA To Penalize Registered Account Fee Payment from Non-Registered or Open Accounts

May 16, 2017

Update: Note that, this ‘advantage tax’ on investment management fees has been delayed until 2019 since the CRA wants to consider the requests/petitions submitted by various firms in the investment industry. Many Canadian individuals tend to pay the fee for their registered accounts, such as an RRSP, RRIF and TFSA, from their non-registered, non-qualified or open account. This...