What is the deadline for my 2016 personal taxes?

The deadline for personal income tax is April 30 of each year (unless you are self-employed – more below).  However this year April 30th falls on a Sunday, Canada Revenue Agency (CRA) will consider your return filed on time and you However this year April 30th falls on a Sunday, Canada Revenue Agency (CRA) will […]

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2017 Income Tax Deadlines (for 2016 tax year) – Canadians

Tax season is here and there are plenty of tax deadlines to keep in mind as we make our way into 2017, including: T1 personal tax return T1 personal tax return for self-employed Date of Death T1 personal tax return T2 Corporate tax return T3 Trust tax return Tax Slips – T3, T4, T4A, T5, T5013 […]

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Tax on RRSP/RRIF’s at Death – Does the Estate or RRSP/RRIF beneficiary pay?

General tax treatement of RRSP/RRIF’s upon death and the liability for those taxes is discussed.

The fair market value of your RRSP/RRIF account is included in income on your Date of Death T1. I am often asked who is responsible to pay the income taxes relating to the RRSP/RRIF – the Estate or the designated beneficiary of the RRSP/RRIF?

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