As of June 19th this year, in Vancouver, we have reached Tax Freedom Day, according to the Fraser Institute. This day marks the point at which we start earning for ourselves, after working since the start of the year until now to pay taxes to the government.

Another tax topic I was thinking about recently is the perfect list of things to have ready for your tax preparation. You need to be organized to allow us to do our job well, and to ensure that you get the most out of the time invested. In fact, good organization can reduce not only your taxes, but your preparer bill, as well.

If you have not yet filed your taxes for 2005...

The deadline for filing to CRA has passed, so if you owe tax you will owe a penalty and interest on outstanding taxes owed.

But you can still E-file up until September 2006. Contact us now to get your taxes done. We can even work with you to help negotiate a payment schedule with CRA.

Pat
    604-760-9853

A Spousal RRSP is tool that allows a forward-thinking couple to legitimately minimize their taxes during retirement. If you are a couple, and intend to remain so, and you plan to retire with as much of your hard earned income as possible, then you should seriously consider this.