As most of us know, purchasing a home is a great way to save for retirement. For those who have mortgages, it forces a portion of each pay cheque be set aside. Any capital gains realized from the sale of a principal residence are exempt from personal taxes. In order to claim your principal residence…

There have been plenty of rumours surrounding what tax changes may be included in the upcoming 2020 Federal Budget. The date of the Budget has not been set by the government, but is expected to be released sometime in late March or early April. One of the more significant and controversial rumours that has been circulating is…

It is personal tax time again. As you start gathering all the information we need to complete your filing, it’s important to consider if the tax savings are worth the time spent tracking down your receipts for eligible medical expenses. The answer is of course, it depends, because CRA only allows medical expenses after a…

We prepare a lot of personal tax returns and each year we learn new ways to improve our services. A few years ago, we rolled out three unique service plans for our non-corporate tax clients. Our goals were to: Bring clarity and confidence to the personal tax process. Respond to your requests for transparency with…

We are pleased to announce some changes on our administrative team. Long time Clearline employees Arwen, Kris, and Kasia will be leading the charge on administrative duties at the firm moving forward.   Arwen Rodgers is Clearline’s new Finance and HR Manager, overseeing financial reporting and managing all aspects of HR including recruitment, hiring, and…

By Harman Sian I have been a post-secondary student for approximately five years now. Come tax season, the T2202 Information Return is a document I never forget to include in my annual tax return. The T2202 is issued by Canadian colleges, universities and other educational institutions for students who are enrolled in qualifying post-secondary education.…