Tax Admin - - Page 9

Enhanced GST Rental Rebate to build more apartments for renters

On September 14, 2023, the Prime Minister announced that the government will introduce legislation to enhance the Goods and Services Tax (GST) Rental Rebate on new purpose-built rental housing, to incentivize construction of much-needed rental homes for Canadians. To build more rental housing, the removal of GST will apply to new purpose-built rental housing, such …

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Back to school tips for educators

CRA Tax Tips / By Tax Admin

This back to school season, CRA is here to make it easy to teach and understand taxes. Whether you are an educator or an organization that supports educational growth, there are many resources that you can take advantage of this academic year. Learn More

Brush up on your tax literacy for back to school

CRA Tax Tips / By Tax Admin

It’s time to hit the books again! As you’re getting ready to go back to school, there are some important things about benefits, credits, and taxes to keep in mind. Get organized now so you’ll get the benefits and credits that you’re entitled to and save yourself some headaches later. Learn More

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New tax credit to help offset cost of adding a secondary unit for family

CRA Tax Tips / By Tax Admin

Building a secondary unit for a senior or a family member with a disability? The Multigenerational Home Renovation Tax Credit (MHRTC), provides a refundable tax credit of up to $7,500 for constructing a secondary suite, starting in 2023. The value of the credit is 15 per cent of eligible expenses or $50,000 (whichever amount is less). For example, if …

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Share your thoughts to help improve the Simplified northern residents travel deduction

What's new from CRA / By Tax Admin

Earlier this year, the Canada Revenue Agency (CRA) introduced the Simplified northern residents travel deduction, a pilot project with the goal of making it easier for eligible northern residents to provide the necessary information in their claim and access the deduction. Now, they are taking steps to collect feedback and identify more ways to improve the …

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Businesses: Beginning January 1, 2024, if you file six or more information returns you must file them electronically to avoid penalties

Important Dates / By Tax Admin

Beginning January 1, 2024, businesses filing six or more information returns (slips and summaries) must file electronically. This removes the clause that allowed a filer with 50 or fewer information returns to file by paper. Businesses filing five or fewer information returns can still choose to file by paper. Examples of information returns include the T4 …

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The Canada Revenue Agency and the Workplace Safety and Insurance Board partner to give Ontario businesses another way to pay their WSIB premiums

CRA Information / By Tax Admin

The Canada Revenue Agency (CRA) and the Workplace Safety and Insurance Board (WSIB) are giving Ontario businesses a new option to pay their WSIB premiums. Ontario businesses with a business number can now report their insurable earnings and make WSIB account payments through their CRA My Business Account. Learn More

The CRA would like to remind you that it has resumed debt recovery activities; here’s how it may impact your benefit, credit, and refund payments

CRA Information / By Tax Admin

The CRA would like to remind you that it has resumed debt recovery activities; here’s how it may impact your benefit, credit, and refund payments

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Do you work in the sharing economy? Here’s what you need to know

CRA Information / By Tax Admin

What is the sharing economy? In the sharing economy, individuals and businesses share their assets with others for a price. Arrangements are generally made using online platforms through a third party, or using a website or an application (app). The sharing economy can take a variety of forms, such as: Transportation: ridesharing, rentals of bikes, …

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Not sure if it’s the CRA calling? Here’s how to find out!

CRA Information / By Tax Admin

Scammers posing as the Canada Revenue Agency (CRA) continue their attempts to trick you into handing over money or personal information. Know what to expect when the CRA contacts you so you can tell the difference between legitimate communications from the CRA, and scams. Learn More