In Other News
With the new year comes the start of a new tax season. As you begin to think about your financial goals and your personal income tax filing for the 2022 tax year, it’s important to be aware of how RRSPs and TFSAs can benefit you.
The 2022 tax season is in full swing and you have until May 2, 2023 to file your income tax return to avoid any penalties. To help you through what may seem like a daunting task, here are five tips to guide you through this tax season and in future years.
As part of Financial Literacy Month this past November, we asked people on Instagram to share with us what their burning questions are when it comes to managing their personal finances. We’ve gathered these questions and asked Nelson Soh, CPA, CA, co-founder of FSQ Consulting, to provide his expertise in our latest podcast episode. Below are some highlights from our conversation with him.
The Underused Housing Tax Act, which was introduced in Bill C-8 and received royal assent on June 9, 2022, sets out an annual 1% property tax on the value of residential property that is considered vacant or underused. Like Vancouver’s Empty Homes Tax and BC’s Speculation and Vacancy Tax, the Underused Housing Tax (UHT) is intended to improve housing affordability by discouraging certain owners from leaving residential properties vacant. There are some significant differences, however, in how these taxes are applied.