Tax Filing – What you Need to Know
What you need to know for the 2022 tax-filing season - Canada.ca
What you need to know for the 2022 tax-filing season - Canada.ca
Forms to download: Rental Income Worksheet, Business Vehicle Worksheet, Business Use of Home Worksheet, and Self Employed Income Worksheet.
In an April 17, 2019 Technical Interpretation, CRA was asked whether clothing reimbursements paid to maintenance employees were taxable benefits. Employees were not required to wear specific uniforms and were reimbursed based on receipts, to an annual maximum. CRA referred…
In an April 3, 2019 Tax Court of Canada case, at issue was whether the impact of an individual’s mental impairment entitled her to the disability tax credit (DTC). The taxpayer suffered from social anxiety, depression and phobias. A taxpayer…
In a June 10, 2019 Federal Court of Appeal case, the Court upheld the previous Tax Court decision which classified an employer-provided parking pass as a taxable benefit to an employee of an airline. However, in doing so, the Court…
As of July 1, 2013, where receipt of Old Age Security (OAS) is delayed, the monthly pension is increased by a factor of 0.6% for each month deferred, to a maximum of 36% (60 months, commencing receipt at age 70).…
Do you have an employee dining room or cafeteria? In a March 21, 2018 Technical Interpretation, CRA stated that they do not consider meals subsidized by the employer to be a taxable benefit provided the employee pays a reasonable charge.…
CRA may grant relief from penalties and interest in cases where the timely satisfaction of a tax obligation was not completed due to: extraordinary circumstances;actions of the CRA; orinability to pay or financial hardship. In a March 31, 2016 Federal…
CRA highlights relevant tax compliance and planning information if you bought or sold a home. It included information on: claiming the principal residence exemptionclaiming the home buyers' amountusing part of your RRSP to purchase a home under the Home Buyers'…
Dividends received by individuals from private corporations as of January 1, 2018 may be subject to taxation at top marginal tax rates (due to the new TOSI rules) if, in general, they are determined to be unreasonable. Salaries, however, are…