CRA Tax Scheme Warning

Watch out for real estate investment schemes The Canada Revenue Agency (CRA) is warning Canadians about getting involved in tax schemes where promoters, including some tax representatives and tax preparers, are claiming that individuals can get a significant tax write-off by investing in real estate through a limited partnership. What are tax schemes? Tax schemes are plans and arrangements that attempt to deceive taxpayers by promising to reduce the taxes they owe, for example through […]

Is your HSA legit?

Health Spending Accounts (HSAs) are self-insured health plans arranged by employers for their employees residing in Canada. They provide a way that small businesses can provide tax-free health and dental benefits to their employees (and their employees’ family members). This makes the HSA appear to be an extremely attractive and cost”‘effective way of getting and providing health and dental benefits. However, a valid HSA plan must conform to private health service plan rules set out […]