Another year done for the income tax man
Another year has passed where all Canadians have to fill out and mail or send their income tax electronically to the government to get a refund or to pay the government back for not paying enough taxes. This year, I kind of dragged my income tax work until the end of the month of April since personally I don`t like doing income tax as many of you probably don`t as well. And when it comes to going to see an accountant well it’s not great. I personally went to two of them, the first I forgot and the second one was HR Block, big mistake! That year I got audited and had to pay the...
read moreThe Home Buyer Plan – Canada – HBP
The Home Buyer  Plan or HBP is a way for Canadians to take up to $25 000 or $50 000 per couple (each taking up to$25 000 from their rrsp or rsp) to put as down payment to buy their first home or for any Canadian that did not own a home for 5 years and have no HBP to repay. One criteria is that your the rsp funds you are requesting has been in your rsp plan for at least 90 days or longer meaning that if you have for example $25 000 in your rsp right now but $10 000 of it was deposited last month for example, you would only be able to use $15 000. That is one thing that many...
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