Individuals

2021 Personal Year-End Tax Tips

December 7, 2021Blog, Individuals

The end of 2021 is quickly approaching – which means it’s time to get everything in order, so you’re ready when it comes time to file your taxes.

We’ve broken this article into the following sections to make it easy to find the tax tips you’re looking for:

• Individuals, including details on COVID-19 benefits and important tax credits.
• Investment considerations, including how to best contribute to TFSAs, RRSPs, and RDSPs.
• Families, including how to claim childcare expenses and make the most of RESPs.
• Retirees, including essential details about applying for CPP and OAS.

Federal Budget 2021 Highlights

April 22, 20212021, Blog, Coronavirus, Coronavirus - Associates, Coronavirus - Practice Owners, Coronavirus - Students, corporate, Debt, Family, financial advice, Financial Planning, incorporated professionals, Individuals, personal finances, Professional Corporations, Tax

On April 19, 2021, the Federal Government released their 2021 budget. Our article contains highlights of the various financial measures in this budget, divided into three different sections:

• Business Highlights, including an extension to COVID-19 Emergency Business Supports, new programs to support job creation, and a change in interest deductibility limits.

• Individual Highlights, including details on the tax treatment and repayment of personal COVID-19 benefits (such as CERB), eligibility changes to the Disability Tax Credit, an increase in OAS for those 75 and up, and support for job skills retraining.

• Additional Highlights, including a proposed federal minimum wage of $15, changes to the GST New Housing Rebate conditions, and new or increased taxes in areas such as luxury goods, tobacco, and Canadian housing owned by non-resident foreign owners.

Self Owned vs. Bank Owned Mortgage Insurance

October 1, 2020Blog, Family, Individuals, Life InsuranceInsurance, Mortgage

Before buying insurance from your bank to cover your mortgage, please consider your options. What does the insurance cover?

CERB Extended | Business Owners who did not qualify previously – expanded CEBA starts June 19th

June 17, 20202020 Only, Blog, Business Owners, Coronavirus, Coronavirus - Associates, Coronavirus - Practice Owners, Coronavirus - Students, corporate, Individuals

Great news for Canadians out of work and looking for work. The CERB will be extended another 8 weeks for a total of up to 24 weeks.

The expanded CEBA will begin June 19th.

Guide to Covid-19: Government Relief Programs in Canada

May 4, 20202020, Blog, Coronavirus, Coronavirus - Associates, Coronavirus - Practice Owners, Coronavirus - Retired, Coronavirus - Retiring, Coronavirus - Students, Family, Individuals, Life Insurance

The intention for our “Guide to Covid-19: Government Relief Programs in Canada” is to help businesses and individuals to cut through the noise and make sure they’re getting all the help they can receive from the federal and provincial programs.

Comparing TFSAs and RRSPs – 2020

January 30, 20202020 Only, Blog, Family, Individuals, Investment, Retirees, RRSP, Tax, Tax Free Savings Account

We examine the difference between RRSP and TFSA in the deposit and withdrawal stage.

2020 Financial Calendar

January 1, 2020Blog, Business Owners, corporate, Individuals, Investment, RRSP, Tax, Tax Free Savings Account

Financial Calendar for 2020- All the deadlines you need to know to maximize your benefits!

2019 Tax Tips for Employees

November 22, 20192019 Only, Blog, Estate Planning, Family, Individuals, Investment, Retirees, RRSP, Tax, Tax Free Savings Account

Now that we are nearing year end, it’s a good time to review your finances. With the federal election over and no major tax personal tax changes for this year, 2019 is a good year to make sure you are effectively tax planning.

Wealth Protection – Disability Insurance

May 1, 2019Blog, disability, Individuals

Everybody understands the value of life insurance and most of us who take our finances seriously have a solid life insurance policy in place. But what happens if you are unlucky enough to sustain a serious illness, chronic disease or disability which prevents you from working? Such a scenario could be disastrous for your family finances and this is where disability insurance comes in.

Financial Advice

April 2, 2019Blog, Estate Planning, Family, Individuals, Retirees

An advisor can help you determine where you are today financially and where you want to go. An advisor can provide you guidance on how to reach your short, medium and long term financial goals.

Category: Individuals

2021 Personal Year-End Tax Tips

Federal Budget 2021 Highlights

Self Owned vs. Bank Owned Mortgage Insurance

CERB Extended | Business Owners who did not qualify previously – expanded CEBA starts June 19th

Guide to Covid-19: Government Relief Programs in Canada

Comparing TFSAs and RRSPs – 2020

2020 Financial Calendar

2019 Tax Tips for Employees

Wealth Protection – Disability Insurance

Financial Advice

Contact Us

Derrick Lee-Shanok

derrick@abilitypcg.com

margareth@abilitypcg.com

416-875-1836

1-877-940-7377

416-860-7550

1500 Don Mills Rd. Suite 400 Toronto, ON M3B 3K4

Recent Articles

About