With the physical distancing measures in place due to the spread of the COVID-19 virus, many Canadians are now working from home. If working from home is new for you, you may be wondering whether there are any tax deductions you can claim. What expenses would be eligible and what documentation would be required?
Separating from a spouse or common-law partner can be an emotionally difficult and complicated experience. Relationship breakdown is also one of the most significant, and often unexpected, financial planning risks a person can face. That’s why it’s critical that you understand how a separation or divorce may affect your financial well-being and succession plan.
When we are young, life insurance is used to protect our family by providing money to replace our income. However, as we approach retirement our need for income replacement lessens and the focus switches to wealth protection. Wealth protection is a permanent concern, so it requires permanent solutions.
Before you rent or buy a vacation property from a non-resident, there are a few important tax implications that you should know.
It’s wonderful to be able to leave children an inheritance, but you want to make sure that the wealth you’ve worked so hard to build and set aside for their future is protected, regardless of where life takes them.