Tax Planning
Discover strategies to minimize your tax burden, understand deductions and credits, and plan for tax-efficient wealth building.
Tax Planning Introduction
Common Tax Forms
- T1 – Personal Tax Return
- T3 – Trust Income
- T4RSP – RRSP Withdrawals
- T5 – Investment Income
- T5008 – Securities Transactions
- T5007 – Social Assistance & Workers Compensation
- Common Tax Forms
- Learn how to Read an NR4 Form
- NOA – Notice of Assessment
- T2 – Corporate Tax Return
- T4 – Employment Income
- T4A – Pension and Other Income
- T4RIF – RRIF Withdrawals
- T5018 – Subcontractor Payments
- NR4 – Non-Resident Income
- Learn how to Read a T2 Form
- Learn how to Read a T4A Form
Specialized Tax Forms
Working Income and Deductions
Government Benefits for Workers
Donations and Credits
Child Care & Family Credits
Disability & Medical Expenses
- Disability and Medical Expenses
- Can you claim the Disability Tax Credit (DTC) for a dependent
- How to Transfer Unused DTC Amounts
- Claiming Medical Expenses
- Which medical expenses qualify
- How far back can you claim and are there limits
- Fixing a mistake on a medical claim
- Disability and Medical Expenses Glossary
Moving Expense Rules and Calculations
- Moving Expense Rules and Calculations
- Which costs can you deduct, and how do reimbursements affect your claim
- Understand what qualifies as a moving expense
- Choosing between the simplified and detailed method
- When you can claim travel or moving expenses for medical reasons
- Understanding Net Eligible Income?
- Can Unused Amounts Be Carried Forward?
- Moving Expenses Rules and Calculations Glossary
Foreign Income, Investment & Rental
- Foreign Income, Investment and Rental
- Currency conversion, tax treaties, and U.S. retirement income
- How to report rental income, capital gains, and investment interest from abroad
- Understand foreign tax credits (T2209 and TP-772-V)
- How foreign income is taxed in Canada
- Reporting foreign employment, pension, and investment income
- Understand Statement of Real Estate Rentals (T776 and TP-128-V)
- Can you carry forward unused foreign tax credits
- Foreign Income, Investment and Rental Glossary
Capital Gains & Investments
- Capital Gains and Investments
- How to report joint investment income
- Splitting income on T3, T5, and T5013 slips
- How to report capital gains using Schedule 3 or Schedule G
- Understand deemed disposition and how do reserves work
- Attribution rules and using CRA Auto-Fill for shared returns
- Understand investment expenses can be claimed
- Understand the T657 form for capital gains deductions
- Who qualifies for the Lifetime Capital Gains Exemption (LCGE)
- Reporting cryptocurrency and partnership income
- Capital Gains and Investments Glossary
Special Tax Scenarios & Split Income
- Special Tax Scenarios and Split Income
- How pension income splitting works for couples
- Understand tax on split income (TOSI) and how to use the T1206 form
- Which types of income are subject to TOSI
- Understand what are related businesses and excluded amounts
- Understand attribution rules and how to use income splitting strategies
- How joint accounts and prescribed rate loans are taxed
- How to use carryforwards and carrybacks to reduce taxes