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Why you should consider income splitting to lower the family tax bill

Experts say you don’t have to be wealthy to benefit from these tax strategies ....

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How to get through a more challenging tax season

The Globe and Mail
Evelyn Jacks
Published March 16, 2021
/iStockPhoto / Getty Images
Get ready for a complex tax season. Aside from the challenge of filing taxes during a pandemic, Canadians face a basic T1 Income Tax and Benefit Return form with various Schedules totalling more than 40 pages for the 2020 taxation year. Although that makes the task more arduous for financial professionals, it can lead to new opportunities.
Against the backdrop of the most significant public health crisis in a century, astute financial advisors can help their clients uncover gaps in their tax and investment strategies as well as engage the whole family in financial planning. ....

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A taxing situation

Winnipeg Free Press
A head-start on 2020 tax return is best medicine to deal with pandemic s potentially costly impact
By: Joel Schlesinger
freeimages
If you’ve been bad mouthing 2020 because it’s been one of the deplorable spins around the sun in collective memory it may not, unfortunately, be entirely done with us yet.
Opinion
If you’ve been bad mouthing 2020 because it’s been one of the deplorable spins around the sun in collective memory it may not, unfortunately, be entirely done with us yet.
After all, you’ve still got your 2020 tax return to do.
Normal tax seasons are enough to induce headaches. ....

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New year, new tax rules: Why the upcoming tax season will be a challenge

Posted: Dec 29, 2020 7:30 AM MT | Last Updated: December 29, 2020
The Canada Revenue Agency will allow Canadians with modest expenses to claim up to $400 as a tax deduction for working from home without having to keep a detailed account of their expenses.(Sean Kilpatrick/Canadian Press) ....

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