Tax Savings Tips: Make the most of your tax deductions

Tax Savings Tips

Discover ways that can help you make the most of your tax savings.

Expert’s Corner

 

It’s 2016 – do you know what your tax rate is?: PDF document

Getting a better understanding of your marginal, average and effective tax rates can help you make smart tax and investment decisions.

Many Happy Returns! - Mining Your Tax Return for Extra Money This Spring: Document PDF 

Get the best value from your tax return by taking advantage of all the tax deductions and credits available to you. This report outlines some common items you may be able to claim, as well as some lesser-known government tax incentives that could put extra cash in your pocket.

2016 Federal Budget: PDF document 

Jamie Golombek on how the 2016 federal budget may impact you.

The Great Divide: Income-splitting strategies may lower your family’s taxes: PDF document (85 KB)

Now is a great time to revisit some income-splitting strategies, both old and new.

2015 Year End Tax Tips: PDF document (400 KB)

As year-end approaches, here’s our updated annual look at some year-end tax tips you may wish to keep in mind as we enter the final weeks of 2015.

Intaxication: Why getting a tax refund may be a sign of poor financial planning: PDF document (30 KB)

There are a number of ways to use your tax refund to your advantage or, even better, ensure that your tax refund next year is eliminated altogether and the taxes saved are used throughout the entire year to your benefit.

Tax tips for U.S. vacation property owners: PDF document (40 KB)

Jamie Golombek discusses Canadian and U.S. tax implications of owning U.S. vacation property.

Tax Treatment of Collectibles: PDF document (45 KB)

Tax tips for buying, selling and owning collectibles like artwork, stamps and antiques.

Expert tax tips for preparing your return: PDF document (82 KB)

Timely tax return advice to help you avoid common, potentially costly errors when preparing your tax return.

2015 Federal Budget: PDF document (35 KB)

Jamie Golombek on how the 2015 federal budget may impact you.

Getting the Most Out of Your RRSP: PDF document (70 KB)

An RRSP is one of the best ways to save for retirement, providing both a tax deduction for contributions and allowing you to avoid paying tax on the accumulated investment income inside the plan.

The RRSP, the TFSA and the Mortgage: PDF document (300 KB)

Making the best choice for saving via an RRSP, TFSA or debt repayment

Bye-bye Bonus!: PDF document (650 KB)

Why small business owners should favour dividends over a bonus.

Blinded by the Refund: PDF document (115 KB)

Why TFSAs may beat RRSPs as better retirement savings vehicles for some Canadians.

Planning with RDSPs: PDF document (100 KB)

People with disabilities and their families have an important tool in their planning toolkit: the Registered Disability Savings Plan (RDSP).

Articles

About RESPs

A Registered Education Savings Plan (RESP) is a tax-deferred investment plan that helps you save for a child’s post secondary education, so that you’ll have the funds you need, when you need them.

Learn more: About registered education savings plans (RESP)

Benefits of an RESP

There are many benefits to saving for your child’s post-secondary education with a CIBC Registered Education Savings Plan (RESP).

Learn more: Benefits of an RESP

Government Grants and Incentives

Government grants and incentives are available to help you build your RESP savings.

Learn more: Government grants and incentive

CIBC Disability Savings Plan (DSP)

The federal government has Registered Disability Savings Plans (RDSPs) to help parents and other individuals save for the long-term financial security of a person with a disability.

Learn more: CIBC disability savings plan (DSP)

About RDSPs

Any person can be a beneficiary of an RDSP if he/she meets the criteria.

Learn more: About registered disability savings plans (RDSP)

CDSGs and CDSBs — Assistance from the Government of Canada

Contributions to an RDSP may qualify for a Canada Disability Savings Grant (CDSG) of up to $3,500 per year.

Learn more: CDSGs and CDSBs — assistance from the Government of Canada

Tax Filing Made Easy

Whether you file your own taxes or have them done by a professional, an organized approach can save you time and money.

Learn more: Tax filing made easy

Are You Making the Most of the Dividend Advantage?

Learn how to get the most advantage out of dividend income through tax credits and mutual funds.

Learn more: Making the most of the Dividend Advantage

Cut Through the Financial Clutter and Take Control

Holding multiple bank accounts and RRSPs at different institutions can make your investments less diversified.

Learn more: Cut through the financial clutter and take control

Test Your TFSA Knowledge

Take our quiz to see how much you really know about tax free savings accounts.

Learn more: Test Your TFSA Knowledge

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