Watts Advisors Accounting & Tax Blog
Principal Residence Exemption 0
April 13, 2012Recently I have received a few questions about the tax rules surrounding your principal residence. The general idea behind the Principal Residence Exemption is that you are not taxed on gains you realize when you sell your residence. But like many tax guidelines in Canada the rules are more complicated than that to ...
Read MoreShareholder Loans 0
March 1, 2012One area of confusion that some clients can have is why there are strict rules about borrowing money from the company that they own. The Canada Revenue Agency (CRA) has developed a set of rules strictly regulating how an individual can borrow money from a company that they own. Why? These rules ...
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