Beware of telephone and email scams The Canada Revenue Agency (CRA) warns you to beware of telephone calls or emails that claim to be from the CRA but are not. These are phishing and other fraudulent scams that could result… {Read more}
Tag: small business
Employment income – T4 slips
When are T4 slips required? Employment income is included on a T4 for the year in which it is received, not earned. If a payment is made in January 2015 for wages earned in December 2014, this amount will be… {Read more}
RRSP 2014 deadline
RRSP Deadline for the 2014 tax year. The deadline for RRSP contributions for the 2014 tax year is Monday March 2, 2015.
Personal income tax returns – Due date
Personal income tax returns, except for those of self-employed individuals, are normally due by April 30th, as is any amount owing. Penalties and interest may be charged for late returns or late payments. If you are filing online, Canada Revenue… {Read more}
New for 2015 – No Child amount tax credit
TD1 Form – No Child Amount for 2015 Canada Revenue Agency provides employers with TD1 Personal Tax Credits Return forms, both federal and provincial. Employees and pensioners complete the federal form, indicating which non-refundable tax credits they can claim. If more… {Read more}
Personal Tax Returns – Filing with a Spouse
Filing tax returns when you have a spouse Spousal tax returns are always filed separately – that is, the tax returns are prepared separately. However, when tax returns are prepared using personal income tax return software, most software will give… {Read more}
Caregiver amount
Are you eligible for the caregiver amount If you have a parent or grandparent over the age of 65 living with you, even if they are not your dependent you could be eligible for the caregiver amount, depending on their… {Read more}
Students Savings – Tuition Fees
Claim your eligible tuition fees Tuition fees paid to attend your post-secondary educational institution for the tax year in question may be claimed. Enter the tuition amount on line 320 of Schedule 11, Tuition, Education, and Textbook Amounts.
Pre-budget consultations highlighting actions to cut red tape
Minister Findlay hosts pre-budget consultations with local business leaders and highlights the Government of Canada’s actions to cut red tape January 19, 2015 – Kelowna, BC – Canada Revenue Agency The Honourable Kerry-Lynne D. Findlay, P.C., Q.C., M.P., Minister of… {Read more}
Student savings – Interest paid on your student loans
Claim the interest paid on your student loans You may be able to claim an amount for the interest paid on your student loan in 2014 for post-secondary education. You can also claim interest paid over the last five years… {Read more}