The Tax Advantage
700 Strasburg Rd N2E2M2 Kitchener, ON, Canada

Good news! The federal government changed the eligibility rules for CERB. One of them is allowing people to earn up to $1,000 per month while collecting CERB.

COVID-19 measures being taken include staggered appointments, wiping down surfaces, frequently washing hands. You can either make an appointment or use our secure portal. As not everyone has access to a computer or scanner, we're open to serve you. ... If you prefer to get your taxes done electronically, please send an email to [email protected] and we'll send you a link to the portal.

Renovations are finally complete! Thank you @MintRidgeDesign

In 2009 the Tax Free Savings Account was created, now known as a TFSA. The government allowed taxpayers to contribute up to $5,000 into investments that can now be sheltered from income tax. Unlike a RRSP, there’s no immediate tax savings on your tax return. These funds are more about the long game. Also unlike a RRSP, when you withdraw funds from your TFSA, that transaction doesn’t affect your income. We saw the first increase in the TFSA dollar limit in 2013 when it increas...ed to $5,500 per year, then in 2015 it went as high as $10,000. But that was not to last! The very next year the dollar limit was reduced back down to $5,500. Now for the first time in a long time the government has increased the dollar limit. For 2019 you can contribute $6,000. Keep in mind that these annual dollar limits do accumulate if you’ve missed a year or never contributed. For the person who has never contributed, their dollar limit would be $63,500 which is the combined total of all historical dollar limits. See more