As we enter the final stretch before personal income tax returns are due to the Canada Revenue Agency (CRA), a lot of people rush to get their taxes done professionally before the April 30th deadline. Sharlane Bailey, Owner of Canwest Accounting, recommends her clients bring in all their tax receipts by the middle of April…
Back-to-school season not only means a lot of expenses, but also potential education tax credits depending on the situation. We often receive questions about what families can and cannot claim – and the answers sometimes surprise parents. Most students fall into one of these categories: Public school: Unfortunately, fees for supplies, field trips or extracurricular…
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 credits and get benefits and credits. Here…
For most Canadians, the new requirement to report the sale of a principal residence will be nothing more than a compliance exercise—but one shadowed by the threat of unrestricted audits and sizeable penalties. To help you negotiate through the new reporting rules, please see the 8 questions you have about principal residence tax rules. But…