The Ontario energy and property tax credit (OEPTC) is designed to help low- to moderate-income Ontario residents with the sales tax on energy and with property taxes. You apply for the current-year OEPTC on your prior-year income tax and benefit return. For example, you would apply for the 2025 OEPTC on your 2024 income tax …
Before including the disability amount on an individual’s T1 income tax and benefit return, please ask your client if they have applied for the disability tax credit (DTC) before. Your client can give you the notice of determination that was sent to them. This notice will indicate if the Canada Revenue Agency (CRA) has determined …
The Canada Revenue Agency (CRA) has become aware of a new phishing scam targeting the tax preparation community, where bad actors are prompting EFILERs to log into a fake EFILE Sign in page to “activate” their account. Note that the CRA will never send you a link asking you to provide financial or personal information. …
The confidence and trust that individuals and businesses have in the CRA is a cornerstone of Canada’s tax system. The CRA regularly adjusts and improves its systems and processes to safeguard sensitive information against ever evolving threats to its digital services. To support our ongoing efforts to enhance the security of taxpayer accounts, and given …
Direct deposit changes impacting EFILERS and taxpayers Read More »
It’s never been easier to do your taxes online. In fact, online filing gets you access to the benefits, credits, and refunds you may be eligible for even faster! Last year, approximately 93% of Canadians filed their income tax and benefit returns online either themselves or through a tax preparer. There are benefits to filing …
Doing your taxes each year can feel like a big job, but you don’t have to do it alone! If you have a modest income and a simple tax situation, you might be able to get help from a volunteer at a free tax clinic. A modest income is less than $35,000 for a single …
Don’t miss out on free tax help – you may be eligible! Read More »
For the 2024 tax year, the Canada Revenue Agency (CRA) will continue to administer the enhanced trust reporting rules as enacted for tax years ending on or after December 31, 2023. Affected trusts are required to file a T3 Income Tax and Information Return (T3 return), including Schedule 15 (Beneficial Ownership Information of a Trust), …
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 …
Watch your limit when contributing to your Tax-Free Savings Account (TFSA)! Read More »
Tax season starts next week! When the calendar flips to February 24, 2025, you will be able to file your income tax and benefit return online. With the right preparation, filing your tax return can be a smooth and stress-free experience. The Canada Revenue Agency (CRA) is here to help you file with confidence. When …
Tax season starts on February 24! Here’s what you need to start filing Read More »
Tax season is almost here! Whether you’re a seasoned filer or it’s your first time, having the essential information can save you time and stress. It could even put more money in your pocket. We want you to receive any refunds and benefit and credit payments you may be eligible for. During the last tax-filing …
What you need to know for the 2025 tax-filing season Read More »
