• Service: Tax, Global Mobility Services
  • Type: Regulatory update
  • Date: 11/15/2013

Canada - Year-end tax opportunities for individuals 

November 15:  Individual taxpayers in Canada need to consider certain time-sensitive steps before 1 January 2014 and in early 2014 to save on their 2013 individual (personal) income taxes.

Among tax savings opportunities, individuals may want to:

  • Consider accelerating payment of non-eligible dividends for 2013
  • Pay the maximum amount of tax-assisted savings contributions
  • Consider tax loss selling
  • Consider family income splitting
  • Arrange payments of credits and deductions for savings in 2013
  • Reduce the taxable benefit of a company car
  • Catch up on deficient tax installments
  • Consider whether it is appropriate to wind up RRSPs
  • Apply for early CPP benefits
  • Arrange the timing of a move to another province

Read a November 2013 report prepared by the KPMG member firm in Canada: Reduce Your 2013 Personal Tax Bill—Time-Sensitive Tips

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For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at:

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1801 K Street NW
Washington, DC 20006.


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