Information Regarding CPP and New Changes for 2024 Canada Pension Plan 101: Answering common questions about these paycheque deductions (msn.com) Canada Revenue Agency announces maximum pensionable earnings and contributions for 2024 – Canada.ca 8 surprising (and bizarre) federal tax deductions you can actually claim on your return – MTL Blog CRA Tax Credits, Deductions & […]
Covid Related Links for Business & Individuals
Canada Emergency Rent Subsidy (CERS) Question and Answer Sessions COVID -19 CRA UPDATES FOR BENEFITS, CREDITS & SUPPORT PAYMENTS UPDATE: Helping Canadians with the economic impact of the COVID-19 Pandemic Phone Number for businesses to ask questions regarding COVID-19: 1-888-444-3659 Self Employed Benefits What is an ESSENTIAL SERVICE? Click here for a complete list. NEW […]
2021 Tax Year
More than 30 potential tax measures are set out in the Liberal Party’s 2021 campaign platform, some already announced, but most of them new. We will keep you updated of any more changes as Tax Time approaches. COVID-19 support and economic recovery Tax measures for businesses Tax measures for individuals COVID-19 Support and Economic Recovery […]
Canada Emergency Rent Subsidy (CERS) Question and Answer Sessions
The Government of Canada is taking targeted action to support Canadians and Canadian businesses, non-profits and charities that continue to face uncertainty and economic challenges because of the COVID-19 pandemic. The new Canada Emergency Rent Subsidy (CERS) provides direct commercial rent or property expense support to tenants and property owners of qualifying organizations affected by […]
Self Employed Benefits
Assistance for small business and self-employed: Trudeau has confirmed and it is confirmed on the CRA web site. The portal to apply for the Emergency Response Benefit will be through My Account (CRA). This will open for applications the beginning of April. I can not say this enough……. the systems are jammed with unprecedented numbers of people […]
NEW Tax Filing and Payment Due Dates
The due date for filing individual tax returns has been extended to June 1, 2020. Taxpayers will have until September, 2020 to pay any 2019 income tax amounts owed. IF YOU ARE GOING TO OWE ON YOUR TAXES LETS WAIT TILL MAY TO FILE. (HOLD ON TO YOUR MONEY FOR NOW) IF YOU THINK YOU […]
COVID -19 CRA UPDATES FOR BENEFITS, CREDITS & SUPPORT PAYMENTS
FILING YOUR PERSONAL TAXES The Federal government has extended the tax deadline to June 1, 2020. Payment Due Date Aug 31, 2020 Will a delay in filing my taxes effect my benefits? If you are low income (or anyone that relies on their CTB,OTB or GST) You should try to file as early as possible […]
2019 TAX YEAR
Canadian Tax Changes for 2019 Working Income Tax Benefit Renamed and Enhanced The Working Income Tax Benefit is a refundable tax credit that helps give tax relief to low-income individuals and families to encourage them to participate in the workforce. The Working Income Tax Benefit is being renamed the Canada Workers Benefit. But that’s not […]
2018 TAX YEAR
Highlights & Changes for 2018 Taxes I want to talk to you about keeping records! Revenue Canada seems to have set its focus on reviews, request for information and audits. Letters from CRA come calling it different things but what it comes down to is if you don’t have the documentation to back up your […]
Watch for Scammers & Fraud
One of the biggest stories this year is the number of scammers out there pretending to be Revenue Canada. Protect yourself against FRAUD! Beware of new phone SCAMS! To help you identify possible scams, use the following guidelines:The CRA: never requests prepaid credit cards never asks for information about your passport, health card, or driver’s […]