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Fraud Prevention Month: How to recognize fraud, scams and tax schemes / Mois de la prévention de la fraude : comment reconnaître les situations de fraude, les arnaques et les stratagèmes fiscaux

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Every March, the Canada Revenue Agency (CRA) joins organizations around the world to recognize Fraud Prevention Month. Keeping your information secure is a top priority for the CRA. Learning how to identify fraud, scams and tax schemes helps keep your personal information safe. Learn More Photo credit: Happy Dinosaur vector by VectorLover

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The Canada Pension Plan enhancement – Businesses, individuals, and self-employed: what it means for you

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The Canada Pension Plan (CPP) enhancement, which was introduced on January 1, 2019, is designed to help increase retirement income for working Canadians and their families. The CPP is a mandatory pension plan financed by contributions from employees, employers, and self-employed individuals. It covers virtually all workers in Canada except Quebec, which administers its own …

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Saving for your first home? Find out how a First Home Savings Account can help

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Canadians can save for a home tax-free using the First Home Savings Account (FHSA). Prospective first-time home buyers can contribute or transfer from their RRSP up to $40,000 towards buying or building their first home. Like an RRSP, contributions made to an FHSA are generally tax-deductible. Up to $8,000 in FHSA contributions made by December 31, 2023, …

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Home office expenses for employees – What you need to know for the 2023 tax-filing season

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The Canada Revenue Agency is currently updating its webpages and Form T2200 for the 2023 tax year. The updated form, which will be made available at the end of January 2024, along with other T1 related forms, will be easier to complete for employees who are only claiming a deduction for home office expenses. Eligible employees …

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Taxpayer relief deadline is December 31, 2023 for requests related to 2013

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The Canada Revenue Agency (CRA) would like to remind taxpayers and registrants that they have until December 31, 2023, to make a taxpayer relief request related to the 2013 tax year or reporting period. If you want to ask for penalty and interest relief, you must send your request within ten years from the end of the …

Taxpayer relief deadline is December 31, 2023 for requests related to 2013 Read More »

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