The Canada Revenue Agency (CRA) is always on the lookout for tax schemes and opportunities to warn Canadians about them. Has someone encouraged you to deduct expenses and claim business losses to offset taxable income? If so, this might be related to a tax scheme involving multilevel marketing (MLM). Learn More
Charlie the chatbot can be found on the Canada.ca/CRA webpage where it can answer questions about your business and other tax-related matters. From April to July 2023, it was asked just over 854,000 questions in English and 156,000 questions in French. As we head into Small Business Week 2023, Charlie is here to give you some information about …
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
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
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 …
New tax credit to help offset cost of adding a secondary unit for family Read More »
As we approach the 2023 tax season in Canada, it’s important to start thinking about preparing and filing your taxes for the 2022 tax year. Here are some key reminders and tips to help you get organized and avoid any last-minute stress. Know the deadlines: The deadline for filing your personal income tax return in …
Every year, CRA send letters to eligible Canadians inviting them to file their income tax and benefit returns with the CRA’s File my Return automated phone service. Learn More
Seniors, we’re here to help make sure you get all the benefits and credits that you may be entitled to! These tips will help you complete your income tax and benefit return and avoid interruptions to your benefit and credit payments Read More
