You will see changes to your child benefits starting in July 2016. Below you’ll find some information to help you understand these changes. What is the Canada Child Benefit (CCB)? The Canada child benefit is a monthly tax-free payment for families with children under the age of 18. It will replace the Canada child tax…
Gain easy access to all of your Canada Revenue Agency information. My Account allows you to track your refund, view or change your return, check your benefit and credit payments and your RRSP limit etc. http://www.cra-arc.gc.ca/myaccount/?utm_source=twttr&utm_medium=scl_md&utm_campaign=
http://www.cra-arc.gc.ca/nwsrm/fctshts/2015/m12/fs151208-eng.html?utm_source=mediaroom&utm_medium=eml Tax bracket thresholds Taxable income above which the 20.5% Footnote1(22% for 2015) bracket begins 45,282 44,701 Taxable income above which the 26% bracket begins 90,563 89,401 Taxable income above which the 29% bracket begins 140,388 138,586 Taxable income above which the 33% bracket begins 200,000 Amounts relating to non-refundable tax credits Basic personal amount…
Occasionally, taxpayers may receive, either by telephone, mail, text message or email, a fraudulent communication that claims to be from the Canada Revenue Agency (CRA). In all these cases, the communication requests personal information, such as a social insurance, credit card, bank account, and/or passport numbers, from the taxpayer. These fraudulent communications typically insist that…
The RRSP contribution deadline for 2015 is March 1. Any contributions made on or before that date can be deducted on your 2014 tax return. The amount of RRSP contributions that you can deduct in a tax year is based on your personal RRSP deduction limit. Please contact our office if you need assistance determining…
Family Tax Credit The government introduced a new non-refundable tax credit resulting in savings of up to $2,000 for couples with children under 18, starting in 2014. To calculate the credit, the spouses first calculate the combined tax they would normally pay. They then calculate the combined tax they would pay as if the higher…
http://www.cra-arc.gc.ca/tx/bsnss/sm/chcklst-eng.html?utm_source=twttr&utm_medium=scl_md&utm_campaign=
The Canada Revenue Agency has extended the filing deadline for 2013 personal tax returns to May 5, 2014 in order to account for the days lost due to the temporary shutdown as the security issue was dealt with. Tax returns filed by May 5, 2014 will not incur penalties or interest.
Generally your 2013 personal income tax return should be filed by April 30, 2014. If you file your return after April 30, 2014 your GST credit or Child Tax Benefit Payments may be delayed. If you or your spouse are carried on a business in 2013, your 2013 tax return has to be filed on…
