Shaelene’s Tax Tip of the Week – April 14th

Do you plan on selling your principal residence?

 As long as it has been your principal residence for every year that you have owned the property, you will not have to pay any tax on any gain from the sale.  If it was not your principal residence at any time you have owned the property, or only part of the property is considered your principal residence, you will have to pay part of the tax on the capital gain corresponding to the years it wasn’t or the square feet that wasn’t included as part of the principal residence.

Have questions? Give us a call at 905-571-2665 (BOOK)!
We’ve got you covered!

Shaelene’s Tax Tip of the Week – March 24th

Have childcare expenses?

  You can claim amounts paid to daycare centres, caregivers, day camps, and boarding schools. The amount you can claim is up to 2/3 of your earned income or the actual amount you paid for childcare – whichever is lower. The maximum claim per year is $8,000 per child under 7, and $5,000 per other eligible child.

Have questions? Give us a call at 905-571-2665 (BOOK)!
We’ve got you covered!