CAPITAL GAINS OR LOSSES

The full details of any sale of shares, bonds, real estate or other properties in a taxation year, should always be disclosed to your accounting team. Important details include: A brief description of the property disposed…

Profile: Ron Walsh

PRINCIPAL RESIDENCE EXEMPTION

Prior to 2016, taxpayers disposing of a property qualifying as their principal residence did not have to report the sale on their income tax return. However, beginning in the 2016 tax year, all dispositions (or change…

MEDICAL EXPENSE ELIGIBILITY – SERVICE ANIMALS FOR SEVERE MENTAL DISABILITIES AND RELATED EXPENSES

The list of medical expenses eligible under the Medical Expense Tax Credit changes from year to year and province to province depending on where the taxpayer resides. Beginning in 2018, the Medical Expense Tax Credit has…

EDUCATION COACHING TAX CREDIT

From 2015 to 2017, a non-refundable Education Coaching Tax Credit was available to certain teachers and teaching assistants who provided at least 10 hours of extracurricular coaching activities. This credit has been eliminated for 2018 and…