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@umrules A notice of assessment is a point in time and is typically just going to reflect the files return. So if you had paid but did not include it on the return as an instalment, they likely will show owing. They would typically adjust the assessment for amounts paid and not included on the...

@badwolph 15k is fed exemption amount but also depends what your provincial exemption is…..there’s not just federal taxes

@olufem Research so you understand how markets work, the different types of securities and how the cash flow, risks and taxation differs. Then, depending on age, but if not old, I would scatter your money among a mix of growth stock and dividend stocks. Make sure to leverage registered account...

As well, the CRA defaults to the female (sexist!) for child benefits. I assume they have with you and she receives the money. Therefore, the family income used will be from her return and when she files she will know exactly what yours is, so even that aspect of it will be all fine. The 2023...

@muleskinnerblues Taxation differs whether it’s a public company vs private and whether the purchase plan involves pricing “in the money” vs “out of the money” (ie price lesser or greater than fair value or trading price at exercise date)

@bcraig_6973 There’s no requirement to file at the same time. You have to put spouses income on yours but they’ll just reassess it when she files final, so put an estimated figure. They use your combined income (family income) to determine child benefits and some other such things. If anything...

@angietrevino0309 GST and HST have nothing to do with business structure. It’s all based on revenue thresholds related to taxable revenue. It’s actually more likely that he was registered and collecting in the sole proprietorship but not immediately registered for GST in his corp. therefore...

@homebass None of this is true. Firstly, many employers may be manually do it and so you’ll get something close to year to date basis if that’s the case (usually). Payroll is supposed to be done on an individual pay cheque basis as if projected out for a year (which someone said, but that’s not...

@sarebear1992 Assuming before they split they lived in one of the two and the other was a rental, then upon moving into to the second when they split, it was a change in use. At that point, they both would have to pay on the capital gain on that change in use property. Gain split 50/50. The...

@linhlinh9988 It can go either way. Some t5008s will come without cost. This is typically (but not always) because some investments (those structured as trusts) do not issue T3 slips until end of March (when due) but t5008s for cap gains are due end of February. As some investment distributions...