by Mercator Financial | Aug 29, 2024 | Blog, estate planning, financial advice, tax
A common belief among Canadians is that they will be taxed on money they inherit. However, Canada does not impose an inheritance tax. Instead, after someone passes away, their final tax return must be filed, covering the income they earned up to the date of...
by Mercator Financial | Apr 17, 2024 | Blog, Business Owners, estate planning, Family, Financial Planning, incorporated professionals, Individuals, Investment, mortgage, personal finances, Professional Corporations, Professionals, retirees, Retirement, tax
On April 16, 2024, Canada’s Deputy Prime Minister and Finance Minister, Chrystia Freeland, presented the federal budget. While there are no changes to federal personal or corporate tax rates, the budget introduces: An increase in the portion of capital gains...
by Mercator Financial | Apr 1, 2024 | 2024, Blog, Corporate, Family, financial advice, Financial Planning, tax
This year’s tax deadline is April 30, 2024. It’s important to make sure you’re claiming all the credits and deductions you’re eligible for. We’ve separated this article into 2 sections: What’s new for 2023Individuals and FamiliesWhat’s New for 2023Advanced Canada...
by Mercator Financial | Nov 30, 2023 | 2023, Blog, Business Owners, tax
Now that we’re approaching the end of the year, it’s time to review your business finances. We’ve highlighted the most critical tax-planning tips you need to know as a business owner. Salary/Dividend Mix As a business owner, an essential part...
by Mercator Financial | Nov 30, 2023 | 2023, Blog, Individuals, tax
The end of 2023 is quickly approaching – which means it’s time to get your paperwork in order so you’re ready when it comes time to file your taxes!In this article, we’ve covered five different major types of 2023 personal tax tips:Investment...
by Mercator Financial | Aug 1, 2023 | 2023, Blog, Business Owners, financial advice, Financial Planning, Individuals, mortgage, personal finances, tax
You’ve likely heard much about interest rates, especially house prices and mortgages. Rising interest rates will impact everyone, whether they are borrowers or savers. Why does the Bank of Canada raise interest rates? The Bank of Canada has a monetary...
