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Personal Tax Tip – Understanding Charitable Donations and Their Tax Benefits (Updated: 2026)
Support your favourite charities and causes and reap the benefits too! You can claim your donations for the year plus any donations made in any of the previous five years that have not been claimed already, to an annual limit of 75% of your net income. The first $200...
Personal Tax Tip – Do you owe income tax? CRA shares how to make paying as easy as 1, 2, 3! (Updated: 2026)
Did you know? Most Canadian income tax and benefit returns are due on April 30 each year (or the next business day when that date falls on a weekend or holiday). Self-employed individuals and their spouses or common-law partners have until June 15 to file their...
Should You Incorporate in BC? 2025 Guide to Tax Triggers, Benefits & Timing
Should You Incorporate in BC? 2025 Guide to Tax Triggers, Benefits & Timing Incorporation gives BC business owners liability separation and real tax-planning control, but it comes with more filings, costs, and discipline. If profits are growing, risk is rising, or...
GST/HST Quick Method vs. Regular Method: Which Saves Your Small Business More?
GST/HST Quick Method vs. Regular Method: Which Saves Your Small Business More? If bookkeeping time is eating your Fridays, the GST/HST Quick Method can cut admin time and sometimes your remittance. But if you rely on large input tax credits (ITCs), the Regular Method...
Salary vs. Dividends in Canada: How to Pay Yourself as an Owner
Salary vs. Dividends in Canada: How to Pay Yourself as an Owner If you own a Canadian corporation, you can pay yourself by salary, dividends, or a mix. The right choice depends on cash flow, RRSP room, CPP, and your personal tax bracket. Here’s a guide to decide,...
RESPs and the Canada Education Savings Grant: Maximize Your Child’s Future
RESPs and the Canada Education Savings Grant: Maximize Your Child’s Future Saving for a child’s education has never been more important. With the cost of tuition, books, housing, and transportation continuing to rise across Canada, many families are looking for ways...
How to Use the Life Insurance Calculator (Canadian)
How much life insurance do you actually need? Not just a round number, but an amount tied to your family's expenses, assets, and income if something happened to you. The Life Insurance Calculator on the RHN CPA website estimates coverage based on assets, expenses at...
Tax Implications of Selling a Primary Residence vs Rental Property in Canada
Tax Implications of Selling a Primary Residence vs Rental Property in Canada If you are preparing to sell a property, the tax rules are not always straightforward. The tax implications of selling a primary residence vs rental property in Canada can be very different —...
Tax-Efficient Retirement Strategies in Canada
Tax-Efficient Retirement Strategies in Canada Saving for retirement in Canada isn’t just about setting money aside. It’s about building a tax-efficient retirement strategy that helps your savings grow and keeps your tax bill low. Whether you're a high earner nearing...
How to Use the Mortgage Qualifier Calculator (Canadian)
Before you start house hunting, it helps to know what price range you might qualify for—not just what monthly payment you'd like, but what lenders typically test against your income, housing costs, and other debt. The Mortgage Qualifier Calculator on the RHN CPA...
Why Year-Round Tax Planning Pays Off in Canada
Why Year-Round Tax Planning Pays Off in Canada For many individuals and business owners, tax planning is often treated as a once a year task, something to think about only when the deadlines are approaching. However, effective tax planning is not a seasonal activity....
What’s the Difference Between a CPA and a Bookkeeper?
What’s the Difference Between a CPA and a Bookkeeper? Understanding the distinction between a bookkeeper and a CPA (Chartered Professional Accountant) is crucial for anyone managing personal or business finances. While their responsibilities differ, both play vital...