Non-Refundable Tax Credits The most common post-secondary non-refundable tax credits that apply to students are interest paid on student loans, the tuition, education and textbook amounts, the public transit amount, and the Canada employment amount. Transferable Credits The student has… {Read more}
Category: Tax Alerts
Back to School Tax Tip #1
The most common deductions that apply to students are moving expenses and child care expenses. Moving Expenses You can deduct moving expenses if you move to attend courses as a full time student or if you moved to start a… {Read more}
Ontario Launches Collaboration Voucher Program
Ontario is launching a new Collaboration Voucher program to give companies a competitive edge by connecting businesses with research institutions. Through the program, eligible companies can apply for vouchers which can be redeemed for access to the expertise and knowledge… {Read more}
Foreign Employers in Canada
Employers resident in another country who have employees in Canada (either resident or non-resident in Canada) are responsible for collecting; income taxes Employment Insurance (EI) premiums, except when – it appears that, because of the laws of the foreign country,… {Read more}
$10,000 in fines for failing to file GST/HST returns
The Canada Revenue Agency (CRA) announced on May 21 that on May 15, 2013, Douglas W. Gray of Mississauga, Ontario, pleaded guilty in the Ontario Court of Justice in Toronto, to a total of 10 counts of failing to file… {Read more}
June 17, 2013, is the deadline for Self-Employed to File their 2012 taxes
The Canada Revenue Agency (CRA) reminds self-employed individuals and their spouses or common-law partners that this year, the June 15 filing deadline has been extended to midnight on Monday, June 17, 2013, as June 15 falls on a Saturday. However,… {Read more}
Government’s Low-Tax Plan
Halifax, Nova Scotia, Ontario, May 20, 2013… The Honourable Gail Shea, Minister of National Revenue and Minister for the Atlantic Canada Opportunities Agency, today announced that Canadian families are receiving significant tax refunds as a result of the low-tax measures… {Read more}
Federally-regulated Pension Plans
Under some circumstances, when your employment with the pension plan provider ends, it may be possible to have your plan paid out instead of being transferred to a locked-in account, if the value in the plan is low, or if… {Read more}
Real Estate agent fined for Not Filing GST returns
Brampton, Ontario, May 14, 2013… The Canada Revenue Agency (CRA) announced that on May 10, 2013 John Lassu, of Etobicoke, pleaded guilty in the Ontario Court of Justice in Brampton to two counts of failing to file GST returns. Mr…. {Read more}
CRA revokes the registration of Trinity Global Support Foundation
The Canada Revenue Agency (CRA) will revoke the registration of Trinity Global Support Foundation, a London-based charity. The notice of revocation will be published in the Canada Gazette with an effective date of May 4, 2013. On February 1, 2013,… {Read more}