Tax strategies to help you achieve your goals

Tax planning can be an important strategy to help you achieve your financial goals. Here are some featured tax articles that can make tax planning easy to understand, relevant and actionable.

Featured advice

2020 year-end tax tips (PDF, 215 KB)  Opens in a new window.

As the end of the year approaches, this report reviews some tax tips that you might want to consider.

Jamie Golombek discusses some tax tips that you might want to consider as the end of the year approaches.

Transcript for the video 2020 year-end tax tips. Opens in a new window.

Lower RRIF minimum withdrawals for 2020: Canada’s COVID-19 response plan (PDF, 165 KB) Opens a new window in your browser.

This report discusses a reduction of 25% in the minimum amount that must be withdrawn from a Registered Retirement Income Fund (RRIF) for 2020.

Wage subsidy for employers: Canada’s COVID-19 response plan (PDF, 315 KB)  Opens a new window in your browser.

This report discusses the temporary wage subsidy program for businesses, which is part of Canada’s COVID-19 response plan.

Personal tax measures: Canada’s COVID-19 response plan (PDF, 240 KB)  Opens a new window in your browser.

The Government of Canada announced a variety of tax measures to help Canadians facing hardship as a result of the COVID-19 outbreak. This is a quick summary of the major tax changes affecting individuals.

Jamie Golombek breaks down the details of the tax changes available to help Canadians cope with the financial impacts of COVID-19.

Transcriptfor the video overview of COVID-19 financial relief measures for individuals. Opens a new window in your browser.

Relief measures for businesses: Canada’s COVID-19 response plan (PDF, 165 KB) Opens in a new window.

The Government of Canada announced a variety of tax measures to help Canadians facing hardship as a result of the COVID-19 outbreak. This is a quick summary of the major tax changes affecting businesses.

Jamie Golombek provides a summary of the major tax changes affecting businesses.

Transcriptfor the video overview of COVID-19 financial relief measures for business owners. Opens a new window in your browser.

Cash flow planning — COVID-19 (PDF, 125 KB) Opens a new window in your browser.

It’s very important to review your cash inflow and outflow. When you do, you’ll be in a position to determine if there are any ways to reduce or eliminate a shortfall or consider whether excess amounts are being effectively used. 

Post-secondary education budgeting in the era of COVID-19 (PDF, 150 KB) Opens a new window in your browser.

This report reviews some methods of funding post-secondary education during the COVID-19 outbreak.

Prescribed rate loans: The 1% solution (PDF, 100 KB) Opens a new window in your browser.

Here's how to use prescribed rate loans to split income with family members.

Tax and estate planning in uncertain times (PDF, 155 KB) Opens new window in your browser.

This report reviews some of the tax and estate planning opportunities in uncertain times, such as when stock markets or business revenues have declined.

Calculating the tax you may owe on your COVID-19 benefits (PDF, 135 KB)  Opens in a new window.

For some benefits, income tax isn’t withheld or the amount withheld may be lower than the tax that you ultimately need to pay, which could come as an unexpected surprise next year when you file your 2020 tax return.

Fall Economic Statement 2020 — Tax Measures (PDF, 165 KB)  Opens in a new window.

The Fall Economic Statement 2020 included a number of tax measures that will affect individuals and small businesses. Learn how these measures could affect you.

Planning for a potential hike in the capital gains inclusion rate (PDF, 140 KB)  Opens in a new window.

This report looks at some trends in taxation of capital gains, both in Canada and globally, as well as some potential planning that could help you minimize the tax impact of any increase in the capital gains inclusion rate.

REALTOR® Inc. — Tax benefits of Personal Real Estate Corporations (PDF, 250 KB)  Opens in a new window.

This report looks at some of the tax advantages, benefits and opportunities that may be available with a personal real estate corporation.

Ten tax tips for charitable giving as December deadline nears (PDF, 130 KB)  Opens in a new window.

If you have plans to donate this year, check out our list of the top 10 tax tips for charitable giving.

Canada Emergency Business Account (CEBA) Loans: Tax Consequences (PDF, 180 KB)  Opens in a new window.

The government has put into place a variety of measures to help Canadian businesses facing hardship as a result of COVID-19, and among the measures introduced is the CEBA loan program. 

Home-office expenses: COVID-19 edition (PDF, 155 KB)  Opens in a new window.

Can you deduct home-office expenses if you're forced to work from home during the pandemic?

Retirement planning

It’s time for retirement planning to evolve into life planning. Explore the stages of life and retirement planning

Learn moreabout stages of life and retirement planning

Registered Education Savings Plan (RESP)

It’s never too early to begin investing in your child's post-secondary education.

Learn moreabout RESPs