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About Personal Tax Advisors

Sunny Widerman has been preparing income tax returns for entrepreneurial Canadians and their friends since 2002. Her friendly, non-judgemental approach to tax services and advice and lively public speaking style have made her a favourite among audiences and clients alike. She has been featured by Advisor's Edge, the Canadian Media Guild, the Professional Writer's Association of Canada, the Editor's Association of Canada, CARFAC Dispatch and others.

Real Estate – New reporting rules for bare trusts as of 2023

Bare trusts no longer exempt from filing Real estate investors who own properties under a Bare Trust arrangement need to be aware of CRA's new reporting rules. In prior years bare trusts were exempt from filing returns with Canada Revenue Agency (CRA). Going forward, any trust with a fiscal year end of December 31, 2023 [...]

Basics of Canadian Taxes for Immigrants (Updated 2023)

As an immigrant to Canada, it's important to understand the Canadian income tax system and your tax obligations. Whether you're a permanent resident, a temporary worker, or a student, you'll probably need to file a tax return with the Canada Revenue Agency (CRA) each year. Do you need to file a Canadian income tax reurn? [...]

Falling Behind In Your Taxes Doesn’t Make You A Bad Person

Here at Personal Tax Advisors, we serve a lot of new clients who come to us having fallen several years behind on their income tax filing. Helping people clear away years of unfiled taxes is incredibly rewarding because we’re able to not only help with taxes (as always), but alleviate a lot of emotional distress. [...]

Capital Gain On A Principal Residence That Becomes A Rental

As you may know, you don't pay tax in Canada on the sale of your principal residence. But what if the property was your principal residence, but was an investment property by the time you sold it? Q: I purchased my home 20 years ago for $120,000. Fifteen years later I converted that principal residence [...]

Real Estate Sales: Fully taxed, or capital gain?

Q: I am considering selling my rental property, which I have owned and rented out for a year. But my realtor said I should own it for at least two years for CRA to consider the profit to be capital gain rather than income. What is this about? A: The issue is whether the sale [...]

Don’t despair if you’ve fallen years behind on your tax filing

It starts with missing one year. Tax time rolls around and you’re going through some things so you put it off or it slips your mind. Second year – it happens again. It starts to bother you, but life is hectic. Third year: now it’s becoming a habit not to file. Every now and then, [...]

Avoid double taxation in Canada by making a Foreign Tax Credit claim

What is double taxation? If you live in one country but earn income from a payer in another country, sometimes that income is taxed by the foreign government. When you file your taxes in your home country, you must declare that income, and it may trigger tax in your home country as well. This situation [...]

Treated like an employee, paid as a contractor

Question: My employer classified me as an independent contractor without my knowledge and required me to work 9-5, Monday to Friday, for almost half a year. I did my taxes under the impression I was an employee and now the CRA says I owe them upwards of $8,000. Is there anything I can do? Answer: [...]

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