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Tax-Free First Home Savings Account (FHSA)

By Samantha Sandy The government introduced a new Tax-Free First Home Savings Account (FHSA) effective April 1, 2023, that allows you to save up to $8,000 tax-free annually towards the purchase of your first home with a lifetime contribution limit …

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Surviving Inflation: The Importance of Budgeting in Canada with the Help of an Accountant

By Ian Penner Budgeting is a crucial aspect of financial management, particularly in a high-inflation environment. Inflation, defined as the increase in the price of goods and services over time, can make it challenging for individuals and businesses to manage …

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2023 Federal Budget Highlights

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Underused Housing Tax (UHT)

By Ian Penner & Sarah Penner What is the UHT? As part of the 2022 federal budget, the government passed the new Underused Housing Tax Act. This legislation creates a new 1% tax on the value of ‘underused housing’. While …

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Will Creation – Choosing an Executor

When preparing a will, one of the most important considerations is selecting an executor to administer your estate after you have passed away. Fulfilling the executor’s role is often complex and involves legal, financial, and tax planning decisions. A will …

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Alberta Affordability Action Plan

Danielle Smith announced that seniors, families with children under 18, and Albertans on benefit programs may be eligible for a non-taxable benefit of up to $600 per person (or per child in the case of families) to help with the …

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