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How to Prepare for the Rising Interest Rate
As realtors, any fluctuation with the Interest Rate can seem very worrisome, wouldn’t you agree? Let’s begin with looking at the the recent realtionship between the ineterest rate and our government. Rising Interest Rate & Canadian Government In the past two years, the Canadian government has done two things to help fellow Canadians get through […]
How Realtors can Calculate Income Tax Payable on Commission Income
PAYABLE ON COMMISSION INCOME Before you learn how to calculate your income tax, you must first understand how the Canadian tax system works. The Canadian personal income tax system is a progressive tax system. This means that the more you make, the more you get taxed on. The chart below shows the marginal tax rates […]
Harmonized Sales Tax: Calculate HST with The Quick Method
Harmonized Sales Tax (HST) is a combination of federal and provincial sales taxes on goods and services in Canada. Last week, we spoke about how realtors could deduct commission rebate, and some of you asked me about calculating your HST in the first place. So let’s get right into it… As a Realtor, the services […]