By Liz O'Dowd on February 14, 2013 
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Canadians file more than 26 million individual income tax and benefit returns each year, and all are electronically analyzed. Based on this analysis, CRA selects certain returns for review because they are high-risk. Other returns are selected based on a… {Read more}
By Liz O'Dowd on February 14, 2013 Leave a comment
RESP is a savings plan for post-secondary education which allows funds to accumulate on a tax-deferred basis up to certain limits. There is no annual limit for contributions. For each beneficiary the lifetime limit on contributions is $50,000. Although there… {Read more}
By Liz O'Dowd on February 14, 2013 Leave a comment
Tax credit may be available if parent or grandparent (over 65) lives with you, even if they are not your dependent. If, at any time in the tax year, you (either alone or with another person) maintained a dwelling and… {Read more}
By Liz O'Dowd on May 11, 2012 Leave a comment
If you owe money to any of the tax authorities because you failed to file a return for one or more years, you can make a voluntary disclosure. You will pay only the tax due plus interest. No penalties will… {Read more}
By admin on November 8, 2007 Leave a comment
A tax return must be filed if you have to pay income taxes. A tax return must also be filed if you have not repaid all amounts withdrawn from your RRSP under the Home Buyers’ Plan or the Lifelong Learning… {Read more}