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MyTaxHub Tips

MyTaxHub is where you can find all of the tax tips you need to help you prepare your personal taxes and maximize your tax refund.

We also have tax tips for small businesses and corporations that will help keep more money in your pocket.

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MyTaxHub

MyTaxHub is where you can find all of the tax tips you need to help you prepare your personal taxes and maximize your tax refund.

We also have tax tips for small businesses and corporations that will help keep more money in your pocket.

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TIPS & ADVICE

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What is an RRSP?

Think about your retirement early, find out what an RRSP is and how it will benefit your future.

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RRSP Timelines

It is important to know the RRSP timeline for 2021 to not fall behind this fiscal year.

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RRSP – LLP (Lifelong Learning Plan)

Are you eligible for this benefit? Find out how.

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What you Need to Know about the Home Buyers’ Plan

How does the Home Buyers’ Plan work?

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How to Make an RRSP Contribution

Knowing how to make an RRSP contribution is helpful for the next tax season.

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What You Should Know About a T3 and T5

It is important to know information about a T3 and T5 for upcoming tax season.

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T5008 Slips FAQ

Find out how to report T5008 slips.

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COVID-19 Tax Benefits

COVID-19 has affected many people, let’s take a further look at how this may affect your tax.

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Collected Income from a Rental Property

Here’s what you need to know for taxpayers with rental income and expenses using form T776.

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Carrying Forward RRSP

Carrying forward unused RRSP can help increase future tax returns.

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Work from home tax information for 2020/2021

There are two methods to calculate your home office expenses if you worked from home in 2020/2021.

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Tax Benefits of Charitable Donations

Through your acts of kindness, there is an existing tax credit made specific for donations.

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The T4A Tax Slip - What You Need To Know

The T4A covers many of the pension, benefits and other income sources of an individual.

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What you need to know about Tuition Tax Credits

Qualified students can claim tuition costs through Tuition Tax Credit. Are you eligible?

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Students can file their own taxes with these simple steps

Full time and part time post-secondary students can file their own taxes.

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E-commerce and filing your taxes

Having an e-commerce business doesn't necessarily mean you follow the same tax rules as any business

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Dependents and tax credits

This credit is designed for single adults who are responsible for the financial care of a relative.

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Tax tips for landlords

It's important to understand what is taxable when it comes to earning money from a rental property.

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T4 Tax Form: Salaried Income in Canada

The T4 slip provides a summary of your employment earnings and deductions for the respective year.

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Rental Properties & Taxes

The impact of taxes on your rental property depends on who owns the property.

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Ontario Trillium Benefit

It is a tax credit benefit paid out to Ontario citizens if they qualify for specific tax credits.

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Does a tax credit get you money back?

A tax credit may or may not get you money back. It all depends on the credits & how they work.

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AirBnB Tax Tips

Having an AirBnB is a great way to own property and earn rental income.

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Online Business and Taxes

CRA requires specific information if you have an online business.

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What is E-Filing VS Netfile?

The question is, do you want to do your own taxes online or have a professional do it for you?

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Federal & Provincial Tax Brackets & Rates

Do you know what tax bracket you fall under?

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Premature checklist for 2021 taxes

It’s never too early in the year to prepare for your 2021 taxes.

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Is not filing your taxes on time a good idea?

Not filing a tax return is a crime and there are consequences to not filing on time.

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Receipts and documents to keep for your taxes

It's important to know what receipts and documents you will need for your taxes.

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Tax slips and what they mean

Understanding tax slips can be confusing. Here's our break down of some of the differences.

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Tax Tips for Real Estate Agents

Understanding the expense write-offs you have available to you as a real estate agent is imperative

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Foreign property and what is reportable on your tax return

Should you declare foreign property you own?

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Contributing to RRSPs and how it affects your tax refund

When you contribute to your RRSPs, it can help you minimize taxes owed or increase your tax refund.

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Your 2020 taxes during the era of COVID

Did you receive any government benefits due to loss or reduced income during COVID?

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Trading and your taxes

Should you claim your investment gains and losses as capital or income? 

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First Time Home Buyers' Tax Credit

The First-Time Home Buyers’ Tax Credit is a $5,000 non-refundable tax credit.

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Cryptocurrencies and your Taxes

The CRA have advised that Canadian taxpayers are liable for taxes on cryptocurrency.

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Interest relief related to COVID-19 benefits

You may be able to save on interest payments for your 2020 taxes if you owe money.

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2020 Tax Checklist

10 helpful tips to help you navigate your 2020 tax filing.

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Claiming CERB and other COVID related benefits

A few key points to COVID benefits and the potential impact to your 2020 tax circumstances.

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What do you need for your taxes if you're working from home?

Here is some helpful information for those required to work from home in 2020 due to COVID-19.

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