Claiming a tax credit for renovation costs

The ongoing pandemic has, as one of its many effects, created a boom in the home renovation industry, as Canadians find themselves needing to adapt their homes to more and more varied uses. One of those uses is multi-generational living, as older Canadians seeks to...

When are legal fees deductible?

In most cases, the need to seek out and obtain legal services (and to pay for them) is associated with life’s more unwelcome occurrences and experiences — a divorce, a dispute over a family estate, or a job loss. About the only thing that mitigates the pain of paying...

The approaching end of pandemic benefit programs

Since March of 2020, tens of millions of Canadians have received pandemic benefits. In some cases, those benefits have been received directly by individuals — typically, through the Canada Emergency Response Benefit (CERB) and, later, the Canada Recovery Benefit...

Year-end planning for your RRSP, RRIF, and TFSA

Most Canadians know that the deadline for making contributions to one’s registered retirement savings plan (RRSP) comes 60 days after the end of the calendar year, around the end of February. There are, however, some circumstances in which an RRSP contribution must be...

Some good pandemic financial news

The past 18 months have been characterized by a steady stream of mostly bad news, relating to the pandemic and its harmful consequences. The human cost of the pandemic, in terms of illness and death, is paramount. But the reality is also that much economic and...

Managing a Canada Student Loan after graduation

Getting a post-secondary education, especially where that education includes graduate school or professional training, is an expensive undertaking. According to Statistics Canada, the average undergraduate tuition cost for the 2020-21 academic year was $6,580. Costs...