Topic: In the News

Transitional Reporting Announced for Foreign Income Verification Statement (Form T1135)

Posted on 2014 Mar 25 by

As indicated in previous newsletter, the Canadian Government has issued a strengthened Foreign Income Verification Statement (Form T1135), which contains certain changes to the foreign reporting requirements of Canadian resident taxpayers. The new T1135 requires taxpayers with over C$100,000 in foreign property to provide a much greater level of detail around their investment. In an…

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2014 Federal Budget Analysis

Posted on 2014 Mar 03 by

The Minister of Finance Jim Flaherty presented his 2014 Federal budget in the House of Commons yesterday. As expected, the new budget included no new taxes, closed a number of perceived tax loopholes, and committed to a balanced budget in 2015.  As part of the budget, there are also a number of tax changes that…

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RRSP/TFSA – Deadline Approaching…

Posted on 2014 Feb 18 by

Just a reminder that the RRSP/TFSA deadline is approaching. Here’s what you need to know: The 2013 RRSP contribution deadline is March 3, 2014 The 2013 RRSP maximum contribution limit is $23,820 To determine your 2013 RRSP contribution limit, check your 2012 Notice of Assessment The 2014 RRSP maximum contribution limit is $24,270 The 2014…

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