J.A.I.K.S Blog

J.A.I.K.S. BLOG

Welcome to J.A.I.K.S. Blog, a place where we will provide you with a variety of resources on accounting, taxation and other related subjects suited for both individuals and/or their businesses.

We hope you can find the answers to your questions and/or curiosities, and always know we are here to help if you need more.

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In Canada When Are Gifts or Inheritances Taxable?

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In Canada, gifts and inheritances are generally not taxable to the recipient. However, there are some important nuances and exceptions to consider:

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Phone Scams at Tax Time

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Numbers from the Canadian Anti-Fraud Centre show that direct calls remain the number one means of solicitation for fraudsters.

Although the CRA may contact you via phone to review your income tax and benefit return, it's important to note that legitimate government employees will always identify themselves with their name, employee number, and phone number.

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An RRSP as a Tax-Planning Tool - Good Idea

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An RRSP is more than simply an account for retirement savings. Yes, it’s a must-have when saving for retirement, but the Registered Retirement Savings Plan (RRSP) is an effective tax-planning tool.

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