Less money for the healthcare system and social services desperately needed by Canadians. Mr. Lee is one of the many great Canadians teaching Canadians with wealth (who have benefited from Canadian society) to avoid contributing back into society.

CRA is annoying. They always chose to audit my business during peak season....lol. But never request to audit in the off-season.

Are there any CRA tax breaks for crypto scams?

I'm not sure about everyone else... but my parents taught me all this when I was 14 lol

Rrsp defers taxes... the bill comes due. Could push into higher taxes at death. And then trigger OAS clawback. Buyer beware.

Does employer contributions to RRSP count towards my total contributions?

Can I buy RRSP for previous years?

man thats alot of work just to save a couple of bucks .. id rather just pay the taxes lol

Very helpful and educational. Thank you.

U mean all this time my hubby is giving me IOUs I coulda loaned it to him?! 🤯 😂 amazing video saving it for to rewatch

So start a side hustle and expense everything lol done!!!

Looking to see how these ideas will help us with our taxes this year. We had a bad tenant and we lost over 40k.

It’s pretty sad that the majority of people don’t understand these basic tax principles.

Very good and simple explanation! Really good to have that calculation in hand when making a decision

RRSP is bad. Yes you will get tax benefit but when you retire the CRA will take it back because RRSP is considered an income so you get taxed when you start receiving it. When you calculate the tax benefit you get today from having an RRSP to the tax the CRA will take from your RRSP during your retirement you better of without an RRSP. The money you put to an RRSP you better invest it on stocks.

This gentleman is so thorough 🥰

does CRA take into account the donations made outside Canada (to charity in other countries)

Herro.

Question: ive been living with my partner for about 8 months now. She owns the condo unit we live in. We will officially be “common law” next week on legal papers. Does this mean i wont be able to use my FHSA when i buy my own house property because ive lived with my common law who already owned a home property?

If you invest $10000 that reduces your contribution room by $10000, but if this investment makes $5000, is your contribution room reduced by another $5000?

You are really great. Thank you for this video

Subbed ty for info

If 2nd employer doesnt know you have another job, wouldnt they take off the same amount twice not less ?

There’s actually a big mistake on the CCA recapture part. On the 600k property which you claimed 100k of CCA, sold 700k. You would have 100k capital gain and 100k in CCA recapture which means 150k taxable income instead of 200k. Good video in a whole !

“This is my quant… my quantitative!”

Thanka for sharing. I thoroughly enjoyed this. Would you recommend contributing to the group rrsp or personal rrsp and what difference does it make?

50k+ CRA agents, would that have something to do with this?

Dude you are the GOAT of taxes! Thanks a lot!

I swear every year they teach less useful information and more filler cause as a business grad with a background in finance i barely learnt about taxes and more about getting ready to be taxed

So the bigger question is how to make 600k+ with 15k??? Is there a video available? 😅😅😅😂

Tax people more than it should -- should be illegal!!!

What happens if the capital gains increase the value of your TFSA for that calendar year?

Good shit, informative, will watch again

Great video. My employer doesn’t match RRSP contributions, but has set up an RPP and matches there. Are there any tax benefits I should be leveraging?

Please can you explain to me when the trading or the investe on my non taxible account is considered taxible?🙏

Thank you for such an informative and well explained video. 👏

WAIT so can you just put money in an FHSA and then withdraw it tax free and refill it over and over and withdraw again? "theres no limit to how much you can withdraw tax free, and theres no need to refill the account back up after withdrawing" That line confused me. Because if i could abuse that i totally would lol. Please help and thank you!

Buddy , I don't know if you are living in a different canada ? With the prices going up by the day and the services getting worse and worse, we can't afford any more pay cut for RRSP or any kind of account !

Define “too” many accounts. That’s quite a generalization.

thank you so much

wow that guy made a killing and the change the rules of the game on him and taxed him. Damn feels like there is no way to win

Never understood the spousal loan. If one makes $150K and one makes $75K, just say the $150K pays all the bills and the $75K invests all their $. Never heard of any married couples having audits or cra issues doing it that way. Dont see why the spousal loan and interest etc headache is really needed. Married couples can do as they wish, who is to say otherwise? What am i missing.

How can I withdraw our spousal rrsp contributions after say 3-4 years to help pay off our mortgage and avoid major taxes, thanks.

Lesson here: Taxed to death in Canada by an overly complex tax system administered by an army of bureaucrats at CRA. I'm waiting for a party to run on the promise to simplify the tax code.

Thanks for the explanation it's so good the way you talking no to fast easy to understand I like your video

Contribute not contrabute

The information you’ve shared is truly incredible. I’ve never come across such innovative ways to save taxes before. Outstanding work! Everything is presented in a highly engaging and well-structured manner.

Can I claim strata fees on my rental income？

Hey there, I have a question about Self employed tax. I am a Self employed where I charged my client with HST, and I have a salary full time job. For example, I charged my client and charged 100$ + 13$ (HST) =113$, and I earned 100 $ (tax deducted), so for next year I need to file for HST and while filing my personal income do I need to include 100$ (self employed) or 113 $(self employed with HST)? Or I will not have to pay any further taxes (except HST) which I made as a Self employed? Thanks

Awesome video. and add to al that we throw that criminal Liberal government out and things are looking up