The Voluntary Disclosures Program

On: 2017-11-01 18:09 
The Voluntary Disclosures Program (VDP) gives a second chance to change a previously filed tax return or to file a return that should have been filed for the previous 10 taxation years. The main advantage of using this administrative program is the relief from prosecution and penalties. In addition, partial interest relief can be sought to effectively reduce payments and encourage taxpayers to come forward.

A tax aimed at high-income people who shelter income could result in a surprising tax bill for you even in years when you don't have any taxable income.


Changes in capital gains tax rates?

On: 2017-03-08 14:36 
Similar to an annual health check, it is important to have a financial health check on a periodic basis. A review of your overall financial plan will ensure that it still meets your desired goals. Your investment strategy forms part of your overall financial plan and should be reviewed periodically to ensure it is in line with your overall objectives for wealth accumulation, retirement, and other financial objectives.


On: 2017-02-27 10:00 
We are pleased to provide you the following reminders in order to assist you with your tax planning needs.

Once again, mutual funds have calculated their year-end distributions and are paying them out.

Important Tax figures for 2017

On: 2017-01-16 12:48 
The following chart shows changes in important federal tax information for 2017 from 2016. Some of the figures are unchanged, some are indexed to inflation and others changed because of legislation.

If you own a business and you're planning an exit strategy or an asset sale, you may want to complete it by December 31, 2016.

Image courtesy of Bill Longshaw
It’s not uncommon for a Canadian to be drawn south to the United States for work, personal or family reasons. Leaving home to take advantage of a new opportunity is quite exciting and often opens the door to future opportunities. However; before you leave Canada there are many tax issues that need to be considered. While rarely at the top of anyone’s list, tax planning is essential to ensure you are in the best position possible after the relocation. This applies to both tax in the United States and Canada as well. Depending on how you structure the transaction you (and your family) may be required to pay the Canadian departure tax. To help clients, prospects and other understand the tax and conditions under which it is assessed; RSW Accounting + Consulting has provided a summary below.

Claim Every Tax Credit Available

On: 2016-04-02 15:28 
Tax credits can shave considerable sums of money off your annual tax liability. Click below for a list of some of the most common credits, some of which can be transferred between relatives. It's worth knowing this list if you want to save money.

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