On June 9, 2022, the Underused Tax Act became law. Non-residents, non-Canadian owners of residential properties in Canada (and some Canadian partners, trustees and corporations) must file a return for the annual tax by April 30, 2023. There are penalties…
Forms to download: Rental Income Worksheet, Business Vehicle Worksheet, Business Use of Home Worksheet, and Self Employed Income Worksheet.
https://www.canada.ca/en/revenue-agency/services/e-services/e-services-individuals/account-individuals.html
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).…
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…
Since January 1, 2019, the CPP has been enhanced. This means that both employees and employers are required to contribute more, but, retirement, survivor, and disability pensions will also increase. The changes will be gradually phased in over 7 years:…
