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Online tax software is budget-friendly and time-efficient, but depending on the complexity of your situation, hiring a tax professional may be preferable. The official deadline to file your Canadian personal income tax return for 2020 and pay any taxes owed to the Canada Revenue Agency (CRA) is April 30, 2021.   For Quebecers only: You can […]

Tax season can be stressful, but it can also be an exciting time for your wallet. The official deadline to file your Canadian personal income tax return for 2020 and pay any taxes owed to the Canada Revenue Agency (CRA) is April 30, 2021.   For Quebecers only: You can file your return up to May […]

2020 was a sobering year filled with unprecedented economic challenges. Thanks to the swift collective response to the pandemic, the outlook for 2021 is bright with possibilities of recovery in all areas of your life, including your relationship with money. In this post, we’ll take a look at what the next year has in store […]

Resolutions. You might’ve made some for this year to improve certain aspects of your life, whether personal, professional, or both. It’s an equally good idea to make some resolutions as well to make the most of your money. Your financial well-being is just as important as your physical and mental health and your career. Below […]

It’s that time of the year again and the question remains…”am I better off investing in my Registered Retirement Savings Plan (RRSP) or my Tax Free Savings Account (TFSA)”? Here are a few important elements to consider when faced with the choice: First consider your marginal tax bracket. Investments made in your RRSP are tax […]

By Jamie Golombek, Managing Director, Tax and Estate Planning, CIBC Private Wealth Management Tax planning should be a year-round affair.But as year-end approaches, now is a particularly good time to review your personal finances and take advantage of any tax planning opportunities that may be available to you before the December 31st deadline. As we enter the […]

Much remains uncertain during COVID-19 for the many Canadians who hope to escape the frozen north this winter. Many popular winter destinations have struggled to contain their COVID-19 outbreaks contrary to many parts of Canada, which have been more effective at reducing infection rates. Concerns such as: What happens if border restrictions don’t ease by […]