Pen on Folio

Surplus Income Limits Directive For 2018

The Office of the Superintendent of Bankruptcy has just issued their 2018 surplus income directive, setting the surplus income limits for 2018. The full text can be found at OSB Directive 11R2-2018 which includes the new 2018 surplus income limits. The surplus income directive comes into force on March 19, 2018 and applies its surplus income limits to all calculations of surplus income made by a …
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Calculator

Instant Tax Refund Comes at a Price

Get your tax refund instantly The TV and radio advertisements are clear: “get your refund instantly” and to “never wait for your tax refund”. It’s easy too- your tax refund is loaded onto a prepaid credit card or you can opt to receive your refund by cheque. The tax preparers aren’t secretive about their fees, particularly as the maximum is set out by Canada …
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Rebuilding Credit After a Proposal or Bankruptcy

One of the most common concerns from the many individuals who trust us with their financial difficulties is rebuilding credit and re-establishing credit. It’s not that these individuals want to run up credit after declaring bankruptcy or filing a consumer proposal, but they have a real concern over how their decision to tackle their debt will impact their next car purchase, renting their next …
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Retirement savings with RRSPs and TFSAs?

The Canadian government wants you to retire with financial security There are 4 pillars which the Canadian government is using to help make sure you have enough for retirement: Workplace savings plans (such as company pension plans) The welfare system (old age security and the guarenteed income supplement) Canada Pension Plan (CPP) and the upcoming Ontario Pension Plan (ORPP) (both compulsory …
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Tax

It’s Tax Debt Season! Stressed?

March is here and April is quickly approaching – it’s time to sit down and do your taxes. For many people, their employer has deducted just the right amount to keep Canada Revenue Agency and other tax departments happy and all of the stress is over nothing. For others, the whole situation creates a feeling of panic. If you’re asking yourself how you’ll ever pay the tax debt you owe, …
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