Tax Knowledge Center
Essential tax information and insights to help you make informed decisions. Stay updated with Canadian tax regulations and planning strategies.
Personal Tax Rates & Calculator
2024 federal and provincial tax brackets, marginal rates, and how to calculate your tax liability accurately.
- • Federal tax brackets: 15% to 33%
- • Ontario combined rates: 20.05% to 53.53%
- • Basic personal amount: $15,705
- • Tax on employment, dividends & capital gains
- • Non-refundable tax credits guide
Small Business Tax Benefits
Maximize tax savings for Canadian-controlled private corporations (CCPCs) with strategic planning.
- • Small business rate: 9% federal (first $500K)
- • Ontario combined rate: 12.2% for active income
- • $1M capital gains exemption on shares
- • SR&ED tax credits up to 35%
- • Integration with personal tax planning
Cryptocurrency Taxation
Navigate the complex world of cryptocurrency taxation in Canada with expert guidance.
- • Trading vs. investing
- • Capital gains treatment
- • Mining income
- • DeFi transactions
RRSP & Retirement Planning
Maximize your retirement savings with strategic RRSP contributions and understand TFSA vs RRSP benefits.
- • 2024 RRSP limit: 18% of income or $31,560
- • TFSA contribution room: $7,000 for 2024
- • Home Buyers' Plan: Withdraw up to $60,000
- • RRIF conversion rules at age 71
- • Spousal RRSP income splitting strategies
Tax Disputes & Appeals
Understanding your rights and options when dealing with CRA audits, assessments, and disputes.
- • Audit process
- • Notice of objection
- • Tax Court appeals
- • Voluntary disclosure
Investment Income Taxation
Understanding how dividends, capital gains, and interest income are taxed differently in Canada.
- • Capital gains: 50% inclusion rate (66.67% after $250K)
- • Eligible dividends: 38% gross-up, tax credit applied
- • Interest income: Fully taxable at marginal rate
- • Foreign dividends: 15% withholding tax
- • Tax-loss selling strategies
Tax Credits & Deductions
Complete guide to federal and provincial tax credits that can significantly reduce your tax bill.
- • Basic personal amount: $15,705
- • Canada employment: $1,428 credit
- • Age amount: $8,735 (65+)
- • Medical expenses over 3% of income
- • Charitable donations up to 75% of income
CRA Audits & Compliance
Practical guidance for handling CRA reviews, audits, and maintaining proper documentation.
- • Document retention: 6-year rule
- • Common audit triggers to avoid
- • Responding to CRA requests
- • Voluntary disclosure program benefits
- • Penalty and interest relief provisions
Need Professional Guidance?
While this knowledge center provides valuable information, complex tax situations often require personalized professional advice.
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