The Canada Revenue Agency provides a range of federal tax credits aimed at helping your business save money. By claiming these tax credits, you can lower your taxable income or lower the amount of tax you owe. To help you find which credits you may be eligible for, CRA have put together this handy resource. …
The CRA offers a variety of federal tax credits that can help your business save money Read More »
Are you a parent who is thinking of how to save for your child’s post-secondary education? The RESP is a long-term savings plan to help people save for a child’s education after high school, including trade schools, CEGEPs, colleges, universities, and apprenticeship programs. The best part is that anyone can open an account for a …
Registered Education Savings Plan (RESP) helps you save more for your children’s future Read More »
The Tax-Free Savings Account (TFSA) program began in 2009. It is a way for individuals who are 18 and older and who have a valid social insurance number (SIN) to set money aside tax-free throughout their lifetime. Contributions to a TFSA are not deductible for income tax purposes. Any amount contributed as well as any …
Whether it be a threat from external bad actors, or taxpayers willfully submitting fraudulent returns, the CRA is standing on guard. Protecting taxpayer accountsIn today’s increasingly digital world, safeguarding sensitive information against constantly evolving threats is critical for every organization, including the CRA. The protection of taxpayer information remains one of our highest priorities. Recognizing …
The Canada Revenue Agency (CRA) has zero tolerance for fraud Read More »
Times are tough and despite the government’s efforts to support individuals with housing costs, the cost of living and homeownership continue to rise. Addressing affordability is essential to ensure all Canadians have access to safe and affordable housing options. Maybe one of these could help you! The First Home Savings Account gives prospective first-time home …
The Canada Revenue Agency (CRA) will not require bare trusts to file a T3 Income Tax and Information Return (T3 return), including Schedule 15 (Beneficial Ownership Information of a Trust) for the 2024 tax year, unless the CRA makes a direct request for these filings. This is a continuation of the exemption from the trust …
This Small Business Week, the Canada Revenue Agency (CRA) is celebrating the dedication and impact of small business owners— the heart of our communities. The CRA is here to make tax filing easier, so you can spend more time growing your business. Check out CRA services and resources to help you file faster and get …
Charlie is a chatbot available on the Canada.ca/CRA webpage, designed to assist with questions related to business and tax matters. Between January and June 2024, Charlie handled over 1.1 million questions in English and 160,000 in French. As Small Business Week 2024 approaches, Charlie is here to provide valuable information about business taxes, drawing on …
The Canada Revenue Agency (CRA) would like to highlight new information about the Canada Carbon Rebate for Small Businesses, a refundable tax credit designed to support small and medium-sized enterprises across Canada. This initiative aims to return a portion of the federal fuel charge proceeds directly to eligible Canadian-controlled private corporations (CCPCs). For more information, …
Canada Carbon Rebate for Small Businesses: Payment Rates and Online Estimator Read More »
Are you saving for a car or a dream vacation? A TFSA is a great way to save tax-free. The TFSA is a way for individuals who are 18 and older and have a valid social insurance number (SIN) to save money and withdraw it tax-free throughout their lifetime. Whether you already have a TFSA or are …
Watch your limit when contributing to your Tax-Free Savings Account (TFSA)! Read More »
