Posts by Charo Navarrete

f you received COVID-19 emergency or recovery benefits from the Canada Revenue Agency (CRA), you will get a T4A slip for the amounts you received. These benefit amounts are taxable. Any payments you received before December 31, 2020 need to be reported on your 2020 income tax and benefit return. You will get a T4A…

our return for 2020 has to be filed on or before April 30, 2021. File your return on time If you do not file your return on time (see exception to the due date of your return), your goods and services tax/harmonized sales tax (including any related provincial credits), Canada child benefit payments (including related provincial or territorial…

Did you know? During the Canada Post postal disruption, you can use a number of online payments options to pay your business taxes! Our secure digital services are fast and easy, and allow you to manage your tax affairs online. Even during a postal disruption, you are still required to make every effort to submit…

It’s that time of the year again: summer is over and your kids have gone back to school or daycare—expenses are adding up! Luckily, there are a few things you can do now to potentially get money back when you file your tax return. Claim your childcare expenses If you pay for childcare so that…

How will I know my benefits are being reviewed? You’ll get a letter and questionnaire from us. This letter will ask you to provide information so we can check to make sure the benefits or credits you’re receiving are correct. Now what? If you receive a letter telling you that your benefits are being reviewed, don’t…

Did you know that nurse practitioners can now fill out and sign Form T2201, Disability Tax Credit Certificate? This ensures more options for Canadians who want to apply for the disability tax credit (DTC), making the application process easier and more accessible. Through Budget 2017, the Government of Canada has made a change to recognize nurse practitioners…

The maximum pensionable earnings under the Canada Pension Plan (CPP) for 2018 will be $55,900—up from $55,300 in 2017. The new ceiling was calculated according to a CPP legislated formula that takes into account the growth in average weekly wages and salaries in Canada. Contributors who earn more than $55,900 in 2018 are not required…

December 22, 2017 – Ottawa, Ontario – Department of Finance Canada The Department of Finance Canada today announced the income tax deduction limits and expense benefit rates that will apply in 2018 when using an automobile for business purposes. Most of the limits and rates that applied in 2017 will continue to apply in 2018,…

December 28, 2017 – Ottawa, Ontario – Department of Finance Canada When you have an economy that works for the middle class, you have a country that works for everyone. The Government is committed to building a strong economy and a fairer and more efficient tax system that benefits all Canadians. That is why as…

Income splitting tax credit – The family tax cut has been eliminated for the 2016 year and future tax years. However, if you are receiving a pension, you may be able to split your eligible pension income with your spouse or common-law partner to reduce your taxes. Children’s fitness tax credit – For 2016, the maximum…