UFile Podcast

Top family tax credits and benefits In this podcast, Gerry and Ida will discuss some of the top family tax credits and benefits. Canada Child Benefit Child Care expenses Spousal amount and eligible dependant Disabled child or spouse (Disability Tax Credit) Detailed blog article on this topic: https://www.ufile.ca/tips-and-tools/ufile-blog/ufile-blog/2024/03/25/top-family-credits-and-benefits UFile – Your taxes, your way – www.ufile.ca

In this podcast, Ida and Gerry will compare all three registered accounts offered by the federal government: RRSP, TFSA, and FHSA *Introduction *Basic characteristics *Eligibility *Contributions *Contribution limits when withdrawing *Expiry of accounts *Transfers between accounts *Conclusion Detailed blog article on this topic: https://www.ufile.ca/tips-and-tools/ufile-blog/ufile-blog/2024/02/21/comparing-the-rrsp-and-the-tfsa-with-the-fhsa UFile – Your taxes, your way – www.ufile.ca

Tax update 2023 In this podcast, Ida and Gerry discuss the upcoming tax changes for the 2023 tax return. Tax-Free First Home Savings Account (FHSA) Canada Worker's Benefit (CWB) advance payments Residential property flipping rule Multigenerational home renovation tax credit Tradesperson tools expense deduction Home office expenses - flat-rate method Tax rate reduction - Quebec Link of detailed blog article: https://www.ufile.ca/tips-and-tools/ufile-blog/ufile-blog/2024/02/07/tax-update-2023 UFile - Your taxes, your way

In this podcast, Ida and Gerry will discuss five overlooked tax deductions and credits: Moving expenses Carryforwards Carrybacks (retroactive claims) Medical expenses Disability tax credit Detailed blog article on this topic: https://www.ufile.ca/tips-and-tools/ufile-blog/ufile-blog/2023/04/18/five-overlooked-tax-deductions-and-credits UFile – Your taxes, you way www.ufile.ca

In this podcast, Ida and Gerry discuss the components of the Canada Affordability Plan. The components are: Doubling of the GST credit Canada Dental benefit Canada Housing Benefit Blog article detailing the plan: https://www.ufile.ca/tips-and-tools/ufile-blog/ufile-blog/2023/01/10/canada-s-affordability-plan UFile – Your Taxes, your way

In this podcast, Ida and Gerry will describe the upcoming tax changes for 2022 (and some for 2023). The changes that will be covered are: Tax-free first home savings account (FHSA) Labour Mobility Deduction (LMD) Home Buyer’s amount Home accessibility tax credit Doubling of the GST credit Canada Dental Benefit Canada Housing Benefit Immediate expensing of depreciable property Canada Worker’s Benefit (CWB) Staycation credit (Ontario) Blog article detailing the tax changes: https://www.ufile.ca/tips-and-tools/ufile-blog/ufile-blog/2023/02/15/tax-update-2022 UFile - your taxes, your way : www.ufile.ca

Tax update 2022 In this podcast, Ida and Gerry will describe the upcoming tax changes for 2022 (and some for 2023). The changes that will be covered are: Tax-free first home savings account (FHSA) Labour Mobility Deduction (LMD) Home Buyer’s amount Home accessibility tax credit Doubling of the GST credit Canada Dental Benefit Canada Housing Benefit Immediate expensing of depreciable property Canada Worker’s Benefit (CWB) Staycation credit (Ontario) Blog article detailing the tax changes:...

Five common mistakes when producing your tax return In this podcast, Ida and Gerry will discuss five common mistakes people make when producing their tax returns, such as: Being disorganized with your documents Not being aware of carry forward amounts Not being aware of budget changes Missing out on deductions and credits you’re allowed to make Not checking your previous year’s return while producing current year UFile – You taxes, your way – www.ufile.ca

Students and taxes Pursuing post-secondary studies can be expensive, but there are income tax measures that can help you with those costs. In this podcast episode, Ida and Gerry will describe different income tax measures targeted to students, such as: Tuition tax credit Canada training credit (CTC) Student loan interest credit Moving expenses Scholarship and bursary income UFile blog article on this subject: https://www.ufile.ca/tips-and-tools/ufile-blog/ufile-blog/2022/03/07/students-and-taxes UFile – Your taxes, your way – www.ufile.ca

Tax Update 2021 A new tax season is upon us! Find out what’s new in this year’s tax return with Ida and Gerry. The topics discussed: Home office expenses - extension of the temporary flat rate method Canada workers benefit (CWB) enhancement COVID-19 benefits repayment Climate action incentive (CAI) now paid as a benefit Eligible educator school supply tax credit enhancement We also discuss tax changes in Quebec. For more details on these changes, please view our blog article: https://www.ufile.ca/tips-and-tools/ufile-blog/ufile-blog/2022/02/08/tax-update-2021 UFile – Your taxes, your way www.ufile.ca

With the COVID-19 pandemic raging on, many have been adversely affected, especially financially. Are there tax efficient ways to raise cash in these trying times? In this podcast, Ida and Gerry look at 5 ways to raise cash in a tax efficient way. Blog article: https://www.ufile.ca/tips-and-tools/ufile-blog/ufile-blog/2021/04/14/tax-efficient-cash-in-trying-times

Find out about these five lesser known eligible medical expenses in this podcast with Ida and Gerry. UFile blog article: https://www.ufile.ca/tips-and-tools/ufile-blog/ufile-blog/2021/03/31/five-little-known-medical-expenses

The COVID-19 pandemic has fundamentally changed the way we work. Due to widespread unemployment because of the pandemic, many individuals worked side gigs provided by sharing economy apps, such as Uber and Skip the Dishes, to make ends meet. In this podcast, Ida and Gerry discuss the tax implication of taking on side gigs. Blog article on the topic: https://www.ufile.ca/tips-and-tools/ufile-blog/ufile-blog/2021/03/17/the-sharing-economy-and-the-pandemic

A new tax season is upon us! Find out what’s new in this year’s tax return in this podcast with Ida and Gerry. UFile blog article: https://www.ufile.ca/tips-and-tools/ufile-blog/ufile-blog/2021/02/11/tax-update-2020

The COVID-19 pandemic has fundamentally changed the way people work. Gone are the office cubicles, replaced by bedrooms and kitchen tables! Starting in 2020, many Canadians will now be newly eligible to deduct their home office expenses on their tax return. What can you claim on your income tax return regarding your home office? Ida and Gerry provide the details in this podcast Detailed UFile blog article on home office expenses: https://www.ufile.ca/tips-and-tools/ufile-blog/ufile-blog/2021/01/27/home-office-expenses-and-the-pandemic

A new year is upon us! And even though everything is locked down due to the COVID-19 pandemic, one thing is not unfortunately: filing our tax return! What do we need to do to get ready to file our tax return? In this podcast, Ida and Gerry explain how to get organized with your tax documents, how changes in your life affect certain tax credits, and to be mindful of other notable items. UFile blog article: https://www.ufile.ca/tips-and-tools/ufile-blog/ufile-blog/2021/01/13/tax-readiness-checklist

Great news! You finished your tax return and you have a refund coming your way! How should you spend your tax refund? From repaying your debt (through the debt avalanche and debt snowball methods) to investing in your RRSP/TFSA accounts, , Gerry and Ida will explain what you should do In this podcast.

The federal government recently announced measures to support students financially during the coronavirus (COVID-19) pandemic, such as the Canada Emergency Student Benefit (CESB) and Canada Student Service Grant (CSSG). What are the details of these new programs, and what other support measures has the government announced for students?

We find ourselves in unprecedented times with the COVID-19 pandemic. With fear in the air, our natural instincts tell us to sell our investments and to hoard as much cash as possible. But is that a good idea? And what are the potential tax consequences of panic selling?

The federal government has announced a new measure, the Canada Emergency Response Benefit (CERB), to help workers who have been directly affected by the coronavirus (COVID-19). What is it, and how does it affect you?