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What is Principal Residence Exemption?

What is Principal Residence Exemption?

What is Principal Residence Exemption? Principal residence exemption (PPE) provides a way for Canadians to claim exemption from paying capital gains tax on sale of residence. Taxpayer can claim this exemption provided they have designated their residence as their...

What is Personal Use Property and Should I care?

What is Personal Use Property and Should I care?

What is personal use property? Personal use property (PUP) is as the title suggests, property that is for personal use of an individual. Alternatively, you can think of it as property that is not used in running or maintaining a business. Examples of PUP Cars,...

Section 85 – What you need to know

Section 85 – What you need to know

Section 85 Rollover Why use Section 85? Section 85 is useful and complex planning tool for sole proprietorship's thinking about incorporating their business and it is also useful for succession planning such as estate freezes. How does it work? Sole Proprietorship to...

GST/HST Guide

GST/HST Guide

This HST guide / GST guide will provide some guidance into how the GST/HST credit works. What is GST/HST credit? This is credit is to help recipients cover the cost of GST/HST. Obviously, it may not cover all the GST/HST you have paid during the year but it is better...