Tax & Accounting Firm​

As tax season is upon us, we wanted to reach out to you with some important updates and reminders to ensure a smooth and efficient filing...

Starting a new business is an exciting endeavor that often begins with the crucial step of incorporation. If you're considering...

Purchasing your first home is an exciting milestone in life, and finding the right financial tools to support your dream is crucial. In...

IB Tax is your trusted tax consultant in Ottawa, offering personalized tax solutions, expert advice, and comprehensive services. Simplify y

The new Underused Housing Tax was enacted into law and applicable for January 1, 2022 onward. This tax, due annually, is based on the...

Every year tax season brings new changes that may impact most of our clients. To make things simple, we’ve provided a summary of how...

The Home Accessibility Tax Credit is a non-refundable tax credit that provides recognition of eligible home renovation or alteration...

Budget 2022 proposes to introduce a new Multigenerational Home Renovation Tax Credit. The proposed refundable credit would provide...

Property flipping involves purchasing real estate with the intention of reselling the property in a short period of time to realize a...

First-time home buyers who acquire a qualifying home can obtain up to $750 in tax relief by claiming the First-Time Home Buyers’ Tax...

Budget 2022 proposes to create the Tax-Free First Home Savings Account (FHSA), a new registered account to help individuals save for...

The Low-Income Workers Tax Credit (known as Low-income Individuals and Families (LIFT) Tax Credit) is a non-refundable tax credit that...

This credit is a tax-free payment to help Ontarians with the sales tax they pay. Eligibility for the 2022 benefit year (July 2022 – June...

Eligibility for the 2022 benefit year (July 2022 – June 2023) To qualify, you must be a resident of Ontario on December 31, 2021, and at...

The Seniors’ Home Safety Tax Credit is a temporary, refundable personal income tax credit that can help you make your home safer and more...

The temporary Ontario Staycation Tax Credit for 2022 aims to encourage Ontario families to explore the province, while helping the...

If you are considering purchasing an electric vehicle (EV), you may be eligible for an incentive rebate off the Manufacturer’s Suggested...

Legislation was recently passed into law for a new temporary measure that allows Canadian-controlled private corporations (CCPCs),...

Do you own an incorporated business that provides consulting services? If you could be regarded as an employee of your clients, you run...

If you are an employee and choose to use the detailed method to claim home office expenses, you must be aware of what you can and cannot...