Change to the Principal Residence Exemption

  Federal government announced change on Oct 3, 2016 to the Principal Residence Exemption. 1. The “One plus” Rule in Computing the Principal Residence Exemption is eliminated for Non-Residents This “one plus” rule previously applied to taxpayers who were non-residents for tax purposes. That means, a non-resident can still be …

Continue reading

Mineral, oil and gas: Evaluation

Investing companies may have many choices as to where to invest their money and capital. Financial analysis and evaluation will help companies decide whether the expected return at the end of exploration is worth the costs and risks involved in entering into play. Once the company decides to explore the …

Continue reading

Mineral, oil and gas: Basics

Rocks are made up of minerals. These rocks make up the crush of the earth. There are three basic types of rocks: Igneous rocks are formed when melted rock cools and solidifies. Melted rock may come in the form of magma, when it is found underneath the Earth’s surface. It …

Continue reading

Major Changes in 2016 (for 2015 Tax Year)

  Individuals and families Universal child care benefit (UCCB) – The UCCB has increased to $160 per month for each qualified dependent under 6 years of age and there is a new benefit of $60 per month for each qualified dependent aged 6 through 17. Child care expenses – The …

Continue reading