2022 tax season primer: Our roundup of the best tax tips for Canadians + MORE Nov 10th

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Making sense of the markets this week: November 24, 2024 Nov 22nd

Kyle Prevost, creator of 4 Steps to a Worry-Free Retirement, Canada’s DIY retirement planning course, shares financial headlines and offers context for Canadian investors. Can’t stop the Nvidia train Nvidia is now the world’s largest company. You know it’s growing quickly when there ar.... More »

What expenses can you deduct when renovating a rental property? Jun 13th

Ask MoneySense I am trying to understand if I am eligible to claim renovation expenses including property taxes, insurance, rental loss, etc. on an investment property I bought and completed renovations on. I purchased a duplex that was rented and then vacated when final purchase went through. Th.... More »

7 First Nations sign nuclear reactor ownership deal with Ottawa, Ontario - CBC Jun 23rd

7 First Nations sign nuclear reactor ownership deal with Ottawa, Ontario  CBCOttawa, Ontario to announce joint Indigenous loan guarantee for new Darlington nuclear reactors  The Globe and MailSeveral First Nations sign deal with Ottawa, Ontario to own part of a nuclear reactor&nb.... More »

Video: How the Bank of Canada’s interest rate affects you Apr 12th

Think of the Bank of Canada (BoC) as the “influencer of all influencers” when it comes to interest rates. Banks and other financial institutions follow its lead. Learn more about how the BoC’s overnight interest rate impacts you in this short video, featuring MoneySense executive editor Lisa H.... More »
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Stock market news for investors: Cineplex, Roots and Delta report earnings + MORE Apr 9th

Here’s a round-up of news for Canadian investors this week. Cineplex Roots Delta Air Lines Featured RRSP Accounts featured EQ Bank Build your retirement savings with 2.00% inte.... More »
Canada’s best instant approval credit cards 2022

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CardFeaturesAnnual feeBest for instant use: Canadian Tire Triangle Mastercard• 4% back in CTM on spending at Canadian Tire and partner stores• 1.5% cash back in CTM on groceries†• 5¢ per litre back on gas from participating Gas+ and Essence+ locations$0Best for overall rewards: American Express Cobalt*• 5 pts/$1 on groceries & dining• 3 pts/$1 on streaming services• 2 pts/$1 on travel, gas & transit• 1 pt/$1 on everything else$155.88Best for no fee rewards: PC Financial Mastercard*• 25 pts/$1 at Shoppers Drug Mart• 30 pts/$1 at Esso/Mobil• 10 pts/$1 on everything else$0Best for cash back: SimplyCash Preferred Card from American Express*• 2% cash back on all purchases• 4% on gas and groceries$119…

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Workspace of the Month: Inside Google Canada’s Seven-Storey HeadquartersIn our Workspace series, CB is featuring interesting, smart-designed and one-of-a-kind spaces across Canada. From innovative home offices to out-of-the-box co-working spaces to unconventional setups—like this beauty company run out of a rural farmhouse and this carbon-bike company located in a former auto body shop—we are looking to showcase the most unique and beautiful spaces from all industries. This month we are profiling the Toronto office of Google Canada.

Google is big on collaborative workplace culture. Employees—who call themselves Googlers—occupy seven floors of an office building in Toronto’s financial district. The 7,538-square-metre space is fitted with game areas, a large cafeteria where free hot breakfast and lunch is served daily, a gym, a theatre for special events such as presentations and socials, an outdoor patio, and communal kitchens on every floor stocked with all the essentials: snacks like hummus and cheese, and drinks including soda, juice, sparkling water and, of course, coffee…

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Before the payment deadline rolls around on May 1, 2023, there are ways to avoid racking up a higher tax bill than you need to (especially given this year’s record levels of inflation and rising cost of living). Plus, look for any deductions, rebates or tax credits that will help you put some money back in your pocket. Use our guide to organize your finances and prepare for filing your taxes this spring.

Get your T4, T4A and T4E forms together

As part of your tax filing prep, you’ll need to get your T4, T4A and/or T4E forms in order. These government documents will help to determine your income. On your T4A, you can also see how much you’ve saved for retirement throughout the year via your registered pension plan, if you opted to contribute.

“The T4, or Statement of Remuneration Paid, is a tax slip that employers issue to employees after each calendar year. It includes your earnings, deductions and tax paid so far. The T4A is another tax slip, issued by payers of other amounts related to employment (pension payments, annuities, self-employed commissions, retiring allowances, scholarships, bursaries, research grants, etc…

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