Students save with “extra credits” this term! The Canada Revenue Agency (CRA) is helping you keep more money in your pocket with tax credits, deductions, and benefits for you when you do your taxes. Even if you have little or no income, you should still file your income tax and benefit return to claim tax…
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The Government of Canada has introduced a program called Canada Summer Jobs. This can be a great opportunity to create more jobs for students, and to allow employers to hire affordable help through the summer! If you want to take advantage of the program this year, you need to apply by early March. If you…
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Every year, CRA chooses new criteria for what they will focus their auditing efforts on. Taxpayers and businesses who meet the criteria they choose are more likely to be audited. For the 2015 tax year, CRA will be looking more closely at individuals and businesses who: claim business losses multiple years in a row, claim…
DetailsWe have just heard from our clients about a new phone scam. Someone is making calls pretending to be from Revenue Canada, saying that there is “unusual activity on your account”. Be aware this is definitely NOT a call from CRA and can be disregarded. If you receive a call or email that seems suspicious,…
DetailsAs we discussed last week, the new federal government is proposing several changes to Canada’s current tax policy. Many of you may be wondering what these possible changes would mean for you and your family. The Knowledge Bureau Network has examined the proposed policies. Assuming all the changes are adopted in their current form, they have…
DetailsNow that a new government has been elected in Canada, you can expect some changes to different tax benefits and rate. This will affect each person differently, depending on factors like your level of income and whether you have kids. We came across this great article from MoneySense that discusses some of the likely changes we’ll…
DetailsIn a recent newsletter from the Business Development Bank of Canada, the BDC outlined 7 tips for entrepeneurs who want to improve their cash flow. We thought they had some great ideas that our clients might find useful, so we decided to share a brief summary with you here. Here is a brief overview of…
DetailsThe only reason CRA will contact you by email will be if you have a MyAccount with them. Even then, the email will only direct you to log in and view new documents. They will never contain links for you to follow. If you receive an email with links, do not reply, do not click…
DetailsYou may have heard of the recent changes to the universal child care benefit (UCCB). One of the changes was to expand the UCCB, so it now applies to all children under 18, and the benefit per child under the age of 6 has been increased to $160/month. However, there have been other changes to the…
DetailsAs of this month, it has been over a year that Canwest has held its commitment to reduce paper use. Here at Canwest, we have worked to reduce our impact on the earth by storing, transferring, and using our files digitally as much as possible. Not only has this made us more efficient (saving filing…
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