Who owns the apples that fall into your yard from your neighbour's tree? The answer to that question sheds light on how the CRA treats windfalls. The issue can be complex because the Income Tax Act is light on details. So the interpretations tend to be found in common law and court precedent. Click "Full Article" for the basics on dealing with unplanned income.

You may have no tax obligations in the U.S., but you still may be required to disclose certain non-U.S. financial accounts to the American tax agency. Here is how the reporting regulations may affect you.

Investment income is a key goal of financial planning, as is minimizing taxes. When it comes to dividends and other passive earnings, the Income Tax Act includes provisions aimed at ensuring you pay the same tax on that money as you would if you had earned it directly. Here's how the system works.