Ten tips if you opened a First Home Savings Account in 2023
Did you open a First Home Savings Account (FHSA) in 2023? If so, you need to be aware of this important information. Learn More
Getting ready to file your taxes by paper? Here’s what you need to know!
We get it – people have different preferences when it comes to filing their tax returns. But no matter how you decide to file, the Canada Revenue Agency (CRA) is committed to making sure you get any refund, benefit, or credit payments that you may be eligible for! Learn More
The Canada Pension Plan enhancement – Businesses, individuals, and self-employed: what it means for you
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 …
Not today, scammer! Find out if it’s really the CRA contacting you
Are you receiving emails insisting you click on a link? Text messages promising a benefit payment or refund? Phone calls threatening to send the police if you don’t pay up? Not only are all of these really annoying, they are all signs of scams! Scammers continue to pose as the Canada Revenue Agency (CRA) and …
Not today, scammer! Find out if it’s really the CRA contacting you Read More »
Saving for your first home? Find out how a First Home Savings Account can help
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, …
Saving for your first home? Find out how a First Home Savings Account can help Read More »
Home office expenses for employees – What you need to know for the 2023 tax-filing season
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 …
Businesses: Here are the top changes this year that will affect business taxes in 2024
This year, there have been many announcements about changes that will affect business taxes in 2024. CRA has pulled them together for quick reference, along with a list of resources that can help you manage these changes and your tax affairs in the new year. Learn More
Taxpayer relief deadline is December 31, 2023 for requests related to 2013
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 »
Get a head start on your taxes by using the CRA’s digital services
It’s almost that time of year again: tax season. Many of us put off filing our income tax and benefit returns until the last minute or avoid filing altogether. By not filing, you might be missing out on certain benefit and credit payments, or a potential refund. The Canada Revenue Agency (CRA) is here to help …
Get a head start on your taxes by using the CRA’s digital services Read More »
What to expect when the Canada Revenue Agency contacts you
Fraudulent calls claiming to be from CRA is an issue that continues to impact Canadians. So what can you do to avoid being mislead by these scams? Please refer to the below article published by the Canadian Revenue Agency to help you determine the legitimacy of a CRA call. Click here