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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.

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: [...]

The Covid Work-From-Home deduction (2020-2022)

The special Work-From-Home deduction relating to Covid-19 came into effect for the 2020 tax year and continued until the end of the 2022 tax year. Let's recap what this deduction does and how to claim it. The Covid-19 Work-From-Home Deduction As a consequence of the Covid-19 pandemic, the Canadian government allowed a special Work-From-Home deduction [...]

All About CRA Matching

Little-known fact: 80% of Canadian income tax filing works on the honour system. During tax season, CRA receives an avalanche of income tax returns; far more than they could ever review in real time. Consequently, they send out most Notices of Assessment having done little-to-no review of what is actually in those tax returns. Unless [...]

Do You Need To Pay Income Tax Installments?

The Canada Revenue Agency requests that some Canadians pay their income tax by installments through the year. The majority of Canadians don't have to make quarterly tax installment payments toward their income taxes because their employers deduct sufficient tax at source throughout the year to cover their tax bill. But those who have sources of [...]

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