Tag: T2

Keep The Invoices

Improper input tax credit (ITC) documentation is one of the main reasons for GST/HST reassessments.  Proper invoices to support ITCs are required by Canada Revenue Agency auditors. For example, the input tax credit may be disallowed if only the credit… {Read more}

2010 Tax System Indexation

On January 1, 2010, all indexed personal income tax amounts, including tax bracket thresholds and amounts used to calculate non-refundable tax credits, were adjusted by 0.6%.

Long-distance medical expense

If you or a family member has to travel to get medical treatment that is not available where you live, you may be able to claim transportation or travel costs for the patient as a medical expense.