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Norm's Tips and Traps 2020 Q1
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Norm's Tips and Traps 2021 Q1
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Norm's Tips and Traps 2020 4Q
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Norm's Tips and Trap 2020 Q2
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Norm's Tips and Traps 2020 Q3
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Norm's Tips and Traps 4Q 2019
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Norm's Tips and Traps 3Q 2019
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SaveUTax.com 2018 Federal Budget Commentary
Please click here to see the SaveUTax.com 2018 Federal Budget Commentary...

Archived Newsletters
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Norman's Tips and Traps Q1 2017
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NORM' s Tax Tips and Traps 120, 2017 4th Quarter
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NORM' s Tax Tips and Traps 119, 2017 3rd Quarter
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Claiming a tax credit for renovation costs (October 2021)
The ongoing pandemic has, as one of its many effects, created a boom in the home renovation industry, as Canadians find themselves needing to adapt their homes to more and more varied uses....

When are legal fees deductible? (October 2021)
In most cases, the need to seek out and obtain legal services (and to pay for them) is associated with life’s more unwelcome occurrences and experiences — a divorce, a dispute over a family estate...

The approaching end of pandemic benefit programs (October 2021)
Since March of 2020, tens of millions of Canadians have received pandemic benefits. In some cases, those benefits have been received directly by individuals — typically, through the Canada Emergency...

Year-end planning for your RRSP, RRIF, and TFSA (October 2021)
Most Canadians know that the deadline for making contributions to one’s registered retirement savings plan (RRSP) comes 60 days after the end of the calendar year, around the end of February. There ...

Some good pandemic financial news (September 2021)
The past 18 months have been characterized by a steady stream of mostly bad news, relating to the pandemic and its harmful consequences. The human cost of the pandemic, in terms of illness and death, ...

Managing a Canada Student Loan after graduation (September 2021)
Getting a post-secondary education, especially where that education includes graduate school or professional training, is an expensive undertaking. According to Statistics Canada, the average undergra...

Avoiding (or minimizing) the OAS clawback (September 2021)
There are a number of income sources available to Canadians in retirement. Those who participated in the work force during their adult life will have contributed to the Canada Pension Plan (CPP) and w...

Financing the political process – the political contribution tax credit (September 2021)
To win elections, politicians need votes. And to run the election campaigns needed to garner those votes, they need an organization, volunteers, and money — a lot of money. To wage the current feder...

New Quarterly Newsletters (Q2 2021)
Two quarterly newsletters have been added—one dealing with personal issues, and one dealing with corporate issues....

Tax assistance for post-secondary education costs (July 2021)
There’s a lot that is still unknown about the upcoming 2021-22 academic year for post-secondary students. It may be that such students will be back on campus, living in residence and once again atte...

Claiming a deduction for summer child care costs (July 2021)
As Canada begins to (slowly) transition back to a pre-pandemic way of life, one of the many opportunities which did not exist last summer is once again a possibility — that of sending the kids to su...

Just a few questions about your tax return … (July 2021)
Between February 8 and June 21 of this year, the Canada Revenue Agency (CRA) received and processed just under 29 million individual income tax returns filed for the 2020 tax year. The sheer volume of...

Creating retirement income from home equity (July 2021)
According to Statistics Canada there were, as of July 2020, just under 7 million Canadians over the age of 65. While the age at which an individual retires can vary a lot (from “Freedom 55” to tho...

First-time Home Buyer’s Incentive program launches on September 2 (September 2019)
In this year’s Budget, the federal government announced the creation of a program — the First-time Home Buyers’ Incentive, or FTHBI, to provide assistance to individuals seeking to enter the hou...

Claiming the Canada Child Benefit (August 2019)
Raising children is expensive and, in recognition of that fact, the federal government has, for more than half a century, provided financial assistance to parents to help with those costs. That assist...

Accessing home equity in retirement – the reverse mortgage (August 2019)
An increasing number of Canada’s baby boomers are moving into retirement with each passing year and, for most of those baby boomers, retirement looks a lot different than it did for their parents. F...

What to do when you can’t pay your tax bill (April 2019)
Most taxpayers sit down to do their annual tax return, or wait to hear from their tax return preparer, with some degree of trepidation. In most cases taxpayers don’t know, until their return is comp...

Deciding when to start receiving Old Age Security benefits (March 2019)
The Old Age Security program is the only aspect of Canada’s retirement income system which does not require a direct contribution from recipients of program benefits. Rather, the OAS program is fund...

New Quarterly Newsletters (February 2019)
Two quarterly newsletters have been added—one dealing with personal issues, and one dealing with corporate issues....

More debt … and more interest (February 2019)
The fact that debt levels of Canadian households have been increasing over the past decade and a half can’t really be called news anymore. In particular, the ratio of debt-to-household-income, which...

Canada Pension Plan Contributions for 2019 (January 2019)
The Canada Pension Plan contribution rate for 2019 is increased to 5.1% of pensionable earnings for the year....

Federal individual tax credits for 2019 (January 2019)
Dollar amounts on which individual non-refundable federal tax credits for 2019 are based, and the actual tax credit claimable, will be as follows....

Federal individual tax rates and brackets for 2019 (January 2019)
The indexing factor for federal tax credits and brackets for 2018 is 2.2%. The following federal tax rates and brackets will be in effect for individuals for the 2019 tax year....

Tax deadlines and limits for the 2019 tax year (January 2019)
Each new tax year brings with it a listing of tax payment and filing deadlines, as well as some changes with respect to tax planning strategies. Some of the more significant dates and changes for indi...

Tax changes effective January 1, 2019 (January 2019)
The following tax changes are in effect January 1, 2019....

The potential tax costs of holiday gifts and celebrations (December 2018)
The holiday season is usually costly, but few Canadians are aware that those costs can include increased income tax liability resulting from holiday gifts and celebrations. It doesn’t seem entirely ...

New Quarterly Newsletters (November 2018)
Two quarterly newsletters have been added—one dealing with personal issues, and one dealing with corporate issues....

Managing a student loan after graduation (November 2018)
Getting a post-secondary education – or professional training – isn’t inexpensive. Tuition costs can range from as little as $5,000 per year for undergraduate studies to as much as $40,000 in tu...

Claiming a deduction for union or professional dues (November 2018)
Most Canadians deal with our tax system only once a year, when preparing the annual tax return. And, while that return – the T1 Individual Income Tax Return – may be only four pages long, the info...

Canadian household debt levels increase – again (November 2018)
Anyone who has ever tried to reduce their overall personal or household debt knows that doing so, no matter how disciplined one’s approach, can seem like a one step forward, two steps back propositi...

Planning for out-of-country medical costs (October 2018)
As the days get shorter and the temperature drops, many Canadians start thinking about spending a few days or weeks (or even longer) of the upcoming winter somewhere warmer. For some, that means going...

The employee tax perks of working from home (October 2018)
The daily commute to and from work is, generally, everybody’s least favourite part of the work day. In recent years that commute has gotten longer and longer as many Canadians, especially those work...

The tax scam that won’t go away (October 2018)
Tax scams have been around, probably, for about as long as Canada has had a tax system. They also have a tendency to proliferate at certain times of the year — often during tax return filing and ass...

Current rules on getting mortgage financing (September 2018)
For all but a very fortunate few, buying a home means having to obtain financing for the portion of the purchase price not covered by a down payment. For most buyers, especially first-time buyers, tha...

Deciphering your Notice of Assessment (June 2018)
By the middle of May 2018, the Canada Revenue Agency (CRA) had processed just over 26 million individual income tax returns filed for the 2017 tax year. Just over 14 million of those returns resulted ...

Welcome and thank you for visiting N. S. Retsinas Professional Corporation's Saveutax.com website. In addition to providing you with a profile of my Chartered Accounting firms various income tax and accounting services, Norman's Website was designed to become a helpful reference and resource tool to personal and corporate businesses and individual tax clients by offering ways to Save U Tax. Norman's dedication to superior client service has brought saveutax to the Internet, endeavoring to continue to provide the highest quality professional service at a reasonable price.

As you browse through saveutax.com's website, you will see that I have not only highlighted background information on my firm and the services I provide, but have also included useful resources such as informative articles (in my Newsletter section) and interactive financial calculators (in our Financial Tools section). In addition, I have taken the time to gather many links to external Websites and Norman's tax budget commentary and highlights that will be of interest to our clients and visitors (in my Internet Links section).

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