Apr 15, 2022 | Income Tax, Personal Finance
The simplest way to ensure you keep receiving government benefits is to file your tax return on time. Even if you don’t have a tax balance owing, it is always advantageous to file a tax return. Filing a tax return is the first step to applying for various...
Apr 8, 2022 | Personal Finance, Small Business
Commentary-on-the-Federal-Budget-2022-2Download
Mar 24, 2022 | Income Tax, Personal Finance
Taxpayers in a common-law relationship should be aware of how their relationship status affects their income tax filing. To begin, let’s review the definition of living common-law according to the CRA: This person has been living with you in a conjugal relationship...
Mar 18, 2022 | Income Tax, Personal Finance
Taxpayers often confuse the terms tax deduction and tax credit or think of the terms as being interchangeable. A tax deduction is not the same as a tax credit. Depending on the expense, it is considered either a tax deduction or a tax credit. An expense that is...
Mar 4, 2022 | Income Tax, Personal Finance
If you’re itching for a break, the Ontario government has introduced a temporary tax credit on eligible accommodations for the period of January 1 to December 31, 2022. The Ontario Staycation Tax Credit provides a 20% personal income tax credit on accommodations...
Feb 25, 2022 | Income Tax, Personal Finance
If you received COVID-19 income support from the federal government such as the Canada Canada Recovery Benefit (CRB), the Canada Recovery Sickness Benefit (CRSB), the Canada Recovery Caregiving Benefit (CRCB), or the Canada Lockdown Worker Benefit, you will receive a...
