KLCA

DEATH AND TAXES When an individual dies, the Executor of the Estate is responsible for the tax filings of the deceased and the Estate of the deceased We can assist in the preparation of these tax filings which include: -Unfiled Personal T1 tax returns for years prior to death; -T1 tax returns

IT'S TIME TO FILE YOUR PERSONAL TAXES! Tax season is upon us and we are pleased to have your tax return prepared by one of our professionals We can even file your return without having you attend our office If you haven't sent us your tax receipts already, please do as soon as possible as we n

IMMEDIATE EXPENSING OF CAPITAL PROPERTY FOR SELF-EMPLOYED INDIVIDUALS If you carry on an unincorporated business and acquired a capital property in 2022, you may be eligible to claim a 100% deduction of the expenditure this year The immediate expensing rules allow eligible individuals and partne

RRSP DEADLINE IS APPROACHING March 1, 2023 is the deadline to contribute to your RRSP for the 2022 tax year This is the last day that you can contribute to your RRSP if you want to take advantage of deductions and increase your tax return this spring

Canadian Luxury Tax $$$$$ If you’ve got your eye on a new car, plane or boat, you better take an extra close look at that price tag Effective September 1, 2022 the Government of Canada’s Luxury Tax came into effect It applies on certain vehicles and aircrafts over $100,000 and some vessels over

5 Tax Planning Strategies 2022/2023 1 Canada’s new anti-flipping rules for residential real estate are scheduled to come into force on Jan 1, 2023, and are designed to “reduce speculative demand in the market-place and help to cool excessive price growth ” Having said this, the CRA is already

Filing CRA Objection on Time is Critical If you disagree with how the Canada Revenue Agency (CRA) has assessed your tax return, you need to follow the proper procedures, one of which includes filing a valid timely notice of objection Recent Tax Court cases evidence the importance of filing obj