Tax Doctors Canada Tax News And Information

Unreimbursed tuition, education, and text book costs for post secondary education or those that develop/ improve your skills can qualify for a federal tax credit. By using this tax credit, it will reduce the amount of taxes that you owe the government

It may make sense to convert your principal residence to rental property. Perhaps you are moving out and want to earn some rent; or, perhaps there is a tax advantage of changing the use the use of your principal residence. Regardless of the reason, be sure to follow the rules set out by the Canada Revenue Agency and the Canadian Income Tax Act to avoid any headaches.