Text message tax scam spreading across Canada – CJAD

A text messaging scam first seen in British Columbia earlier this week is spreading across the country. The scam sends potential victims a message purporting to be from Revenue Canada or TD and urging them to open a link to deposit their tax refunds. TD spokesman Jeff Meerman says he’s seen cons like this before. […]

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Tax time 2015: 10 myths about taxes that mislead Canadians

Myth 1: The person whose name or social insurance number is on the tax slip is the person who must report the interest in a joint account. Not necessarily. Where more than one person contributed capital in their own right, then the income in the account must be allocated based on the capital provided by each […]

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Global News: Filing your tax return? Don’t forget these credits, deductions

When filing your tax return, you want to make sure you take advantage of every credit and deduction available to you. But if you find the Canadian tax system confusing, you wouldn’t be alone and you wouldn’t be faulted. Print off this handy tax checklist, so you won’t forget a slip or receipt when filing your […]

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How to turn your mortgage into a tax advantage

With some careful structuring, Canadians can actually take advantage of preferential interest rates available to them by leveraging their homes, while at the same time obtaining a tax advantage. If you ask how, read this Financial Post

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Tax season 2015: 10 ways to attract a CRA auditor’s attention

 1. Ignoring the CRA’s requests for further information. 2. Large or unusual changes in deductions or credits 3. Claiming hefty home-office deductions. 4. Claiming 100 per cent business use of a vehicle. 5. Not reporting income from a T-slip. 6. Reporting an income much lower than other residents in the same area. 7. Claiming an aggressive tax shelter. 8. Recurring losses from […]

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Mortgage rate war heats up …………….

TD Bank quickly rushed to match the BMO’s rate special and lowered its five-year fixed mortgage rate from 3.09 per cent to 2.79 starting Wednesday. If you are shopping, don’t forget to check small credit unions and mortgage brokers, who are offering deep discounts off the banks’ already low rates. Several online brokerages are offering variable […]

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BMO does it again! 5 year mortgage fixed rates lowered to 5.79%

Bank of Montreal has started off the spring real estate season with a bang by cutting its five-year fixed mortgage rate to 2.79 per cent from 2.99 per cent. BMO sparked controversy when it first introduced super lower rate in January of 2012, spurring a price war among lenders. Then big banks backed off the ultra-low posted […]

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Great ideas from Quora, but are they doable?

Question: How do the wealthy stay wealthy? Answer from Eric Scott, CEO – Dolphin Micro Custom Software 1)  They don’t spend all of their money 2)  They invest There are only two core assets that make people rich, and make rich people richer: real estate businesses There are countless other scams, gambles, and special cases.  Those, however, […]

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Is Canada’s Housing Market “overheated” ? By Perrii.

IMF says “yes” Excerpts from IMF’s latest report. “There have been some recent signs that home listings to sales are rising noticeably in oil-rich Alberta, and we will need to keep an eye on the risk of a hard landing.” “A possible sign of “leakage” from tighter financial rules in Canada … involves the expanding […]

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Building Wealth through Real Estate in GTA By Perrii Muthuraman

Home price growth is forecasted to continue in 2015. The Greater Toronto Area has seen a recent hike in residential property prices, despite one of the worst winters in recent memory. The average price of a detached home in Toronto has jumped above $1-million for the first time. Sotheby’s International Realty Canada projected that Toronto […]

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