Jamie Golombek

Toronto

Freelance Writer at Freelance

All things tax & estate (Canada)

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Articles

Here’s what happened when a taxpayer claimed a swimming pool as a medical expense

1 week ago | financialpost.com | Jamie Golombek

Advertisement oopSkip to ContentAdvertisement 1Jamie Golombek: Ontario couple with a disabled son installed it for him during COVID in what tax judge called a ‘tragic’ caseReviews and recommendations are unbiased and products are independently selected. Postmedia may earn an affiliate commission from purchases made through links on this page.
Some taxpayers may find CRA’s online portal is missing tax slips

2 weeks ago | financialpost.com | Jamie Golombek

Advertisement oopSkip to ContentAdvertisement 1Jamie Golombek: This tax season it’s worthwhile reviewing your return before filing to ensure that you’re not missing any informationReviews and recommendations are unbiased and products are independently selected. Postmedia may earn an affiliate commission from purchases made through links on this page.
Jamie Golombek’s primer on tax brackets, deductions and credits

2 weeks ago | financialpost.com | Jamie Golombek

If you don’t prepare your own tax return each year, you’re missing out on what’s possibly the best education you can get about our Canadian tax system. Each week during tax season, I get dozens of emails from readers asking a variety of questions. Many are excellent and require a bit of research for me to properly respond. Others, however, show that some Canadians don’t really have a good understanding of how our tax system works. Truthfully, though, they can’t be blamed.
CRA demands arrears interest on donation tax shelter bought by ex-husband

4 weeks ago | financialpost.com | Jamie Golombek

Under our tax system in Canada, each individual files his or her own tax return and is taxed on the income they earn on an individual basis. The United States, on the other hand, allows the filing of joint tax returns in which both spouses can pool their income on the same return, with higher joint-tax brackets for the couple than for a single taxpayer. Perhaps the most well-known opportunity for spousal tax planning is the ability to split eligible pension income with your spouse.
CRA can collect tax debt from spouses under certain circumstances

1 month ago | msn.com | Jamie Golombek

Microsoft Cares About Your PrivacyMicrosoft and our third-party vendors use cookies to store and access information such as unique IDs to deliver, maintain and improve our services and ads. If you agree, MSN and Microsoft Bing will personalise the content and ads that you see. You can select ‘I Accept’ to consent to these uses or click on ‘Manage preferences’ to review your options and exercise your right to object to Legitimate Interest where used.
CRA can collect tax debt from spouses under certain circumstances

1 month ago | financialpost.com | Jamie Golombek

Before delving into the details of this latest case, let’s review what the law says about the tax debts of others. Under the joint liability rule, the CRA has the power to hold an individual liable for the tax debts of someone with whom they have a non-arm’s length relationship if they’ve been involved in a transaction seen to avoid tax.
CRA’s 'stupid mistake' compels taxpayer to pay taxes on an extra $53,258

1 month ago | msn.com | Jamie Golombek

Microsoft Cares About Your PrivacyMicrosoft and our third-party vendors use cookies to store and access information such as unique IDs to deliver, maintain and improve our services and ads. If you agree, MSN and Microsoft Bing will personalise the content and ads that you see. You can select ‘I Accept’ to consent to these uses or click on ‘Manage preferences’ to review your options and exercise your right to object to Legitimate Interest where used.
CRA’s 'stupid mistake' compels taxpayer to pay taxes on an extra $53,258

1 month ago | financialpost.com | Jamie Golombek

So, you can imagine my horror when I arrived home from work one dark, cold January evening this winter to find a solitary piece of mail: an oversized, brown envelope from the CRA. This was most unusual, since I’ve been receiving all my notices of assessment (and, occasionally, reassessment) via email notification, which requires me to log into the CRA’s My Account portal to view the notice. If the CRA was sending me oversized physical mail, it was unlikely to be a novelty cheque.
CRA hits taxpayer with hefty 'foreign property' penalty over Swiss bank account

1 month ago | msn.com | Jamie Golombek

Microsoft Cares About Your PrivacyMicrosoft and our third-party vendors use cookies to store and access information such as unique IDs to deliver, maintain and improve our services and ads. If you agree, MSN and Microsoft Bing will personalise the content and ads that you see. You can select ‘I Accept’ to consent to these uses or click on ‘Manage preferences’ to review your options and exercise your right to object to Legitimate Interest where used.
CRA hits taxpayer with hefty 'foreign property' penalty over Swiss bank account

1 month ago | financialpost.com | Jamie Golombek

As you begin to prepare your 2024 tax return in the days ahead, you should pay close attention to a seemingly innocuous question on page 2 of the return. The question asks whether you owned or held “specified foreign property” where the total cost amount of all such property, at any time in 2024, was more than $100,000. If the answer is yes, the return instructs you to complete Form T1135, Foreign Income Verification Statement.