Health Spending Account CRA | Olympia Benefits Blog (10)

What is an investment loan and how does it work?

When a person borrows money to invest in stocks or real estate, this is called an investment loan in Canada. In many cases, the interest payments are tax deductible. However, there are risks.

August 31, 2021

What is mortgage default insurance and how much does it cost?

The government of Canada requires you to have mortgage loan insurance if you are purchasing a home with a down payment of less than 20 percent of the total cost. This should...

DPSP vs RRSP - Which is right for you?

Many Canadian employers have set up group RRSPs for their employees. The Deferred Profit Sharing Plan (DPSP) is a less well-known retirement savings plan that can be a good...

What are tax write offs and what qualifies?

If you own a small business in Canada, you can claim – or “write off” – certain expenses provided that they contributed to your ability to earn an income.

TFSA vs RRSP: Which is better for you and why?

The TFSA and RRSP are both great investment vehicles. In this article, we’ll explain the difference between TFSA and RRSP and discuss which may be the better option depending...

What is considered Medical Cannabis in Canada? (Treatment, History)

You might be familiar with recreational cannabis, but have you found yourself wondering what is medical cannabis and what's the big difference? You're not alone!

Sole proprietorship vs Corporation in Canada - What's the Difference?

When starting a business in Canada, one of the most important decisions you must make is whether to incorporate or operate as a sole proprietorship. This can have financial,...

How To Invest Your Money in Canada - A Beginner's Guide

Let’s face it, investing can be intimidating. There is a myriad of options for investments in Canada, which can lead to paralysis in deciding how and where to put your money....

When can you claim business expenses in Canada

When can you claim business expenses and how to calculate them?

It’s important to claim all possible business expenses in order to minimize your taxes owing. Depending on your situation, the business expense tax deduction will be somewhat...

How does a Registered Education Savings Plan (RESP) work?

A Registered Education Savings Plan (RESP) is a great way for a parent or grandparent to save for a child’s post-secondary education. The Canadian government even offers a...