Shaelene’s Tax Tip of the Week – September 27th

Books In Line

Did you know?

Be aware of “superficial” loss, which happens when you dispose of capital property at a loss but then purchase it back less than 30 days later. This includes any property that creates any capital gain or loss such as an investment. The end result is not being able to claim the loss as a capital loss on your income tax.

Have questions?

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

Shaelene’s Tax Tip of the Week – September 13th

Books In Line

Did you know?

The moment you start bringing in income, you should create a budget for taxes. Unlike salaried employees, payroll deductions such as Canada Pension Plan (CPP) and income taxes are not withheld at source. Therefore, it is crucial you set aside funds for the employer and employee portion of CPP (9.9%) that you’re required to contribute to by the annual deadline (April 30th).

Have questions?

Give us a call at 905-571-2665 (BOOK)!

We’ve got you covered!

Tax tip found here.