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Kanac Accounting Professional Corporation
Jacob Moolan
Jun 24, 20221 min read
NEW RESIDENTIAL PROPERTY FLIPPING RULE
For 2023, a new rule will deem profits from homes owned for less than 12 months to be business income opposed to capital gain. This means...
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Jacob Moolan
Jun 24, 20221 min read
MULTIGENERATIONAL HOME RENOVATION TAX CREDIT
For 2023, a new Multigenerational Home Renovation Tax Credit will be introduced for renovations incurred to create a secondary dwelling...
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Jacob Moolan
Jun 24, 20221 min read
TAX-FREE FIRST HOME SAVINGS ACCOUNT
The Tax-Free First Home Savings Account (FHSA) will be introduced to help people save for their first home. Like RRSPs, contributions to...
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Jacob Moolan
Mar 1, 20222 min read
ONTARIO STAYCATION TAX CREDIT
The temporary Ontario Staycation Tax Credit for 2022 aims to encourage Ontario families to explore the province while helping the tourism...
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Jacob Moolan
Feb 25, 20222 min read
WELCOME CANADA PACKAGE – A Myth?
If you are an international student, you probably would have heard of the “Welcome Package” or “Welcome to Canada package” during your...
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