Are you still unable to work or have your hours been reduced because of the ongoing world-wide pandemic that has millions of people all around the globe? There are measures and relief programs that have been put in place to help those who need financial assistance. For those that were collecting Canada Emergency Recovery Benefit…

The deadline to pay your 2019 Personal Income Tax is Wednesday September 30, 2020. If you have an amount to pay and are unable to pay it by the due date, please contact CRA directly to set up a payment plan with them. They can be reached toll-free at: 1-800-959-8281. If you have not filed…

Notice to all Visitors  Our focus is on helping to keep our employees & community healthy. Please limit number of people in your party to 2 max. Masks are not required at this time (subject to change). If you are feeling unwell, please do not visit office at this time. Feeling unwell includes, but is…

Canada Emergency Wage Subsidy(CEWS) As a Canadian employer whose business has been affected by COVID-19, you may be eligible for a subsidy of 75% of employee wages for up to 12 weeks, retroactive from March 15, 2020, to June 6, 2020. This wage subsidy will enable you to re-hire workers previously laid off as a result…

https://www.canada.ca/en/department-finance/economic-response-plan.html#business Flexibility for Taxpayers In order to provide greater flexibility to Canadians who may be experiencing hardships during the COVID-19 outbreak, the Canada Revenue Agency will defer the filing due date for the 2019 tax returns of individuals, including certain trusts. For individuals (other than trusts), the return filing due date will be deferred until…

The tax burden is one of the biggest challenges your business faces, and it could get worse with new changes proposed by the federal government. The lower tax rate on the first $500,000 in corporate income has been vital to the success of many small firms—but some big business groups, academics and government officials have…

Did you sell a home in 2016?  Canada Revenue Agency now requires you to report the sale on your personal income tax return regardless of whether it was a principal residence or not.  The sale of a principal residence continues to be exempt for income tax purposes but reporting the sale is now mandatory. http://www.cra-arc.gc.ca/gncy/bdgt/2016/qa11-eng.html

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…