T1 Checklist
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How to effectively retrieve your Ontario Property Assessment Notice from MPAC?
The “Property Assessment Notice” is issued by MPAC. MPAC is an independent, non-profit public corporation responsible for assessing residential, commercial, and other types of properties for all municipal regions in Ontario. The property assessment data it provides is based on a range of market and property characteristics, such as location, building area, year of construction,
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Unlock 5 Stars of Empowerment: Tax Filing for Newcomers
Have you recently set foot on the land of opportunities that is Canada, or are you in the process of planning a migration to this country? Regardless of your situation, understanding the tax system in Canada and the benefits of filing taxes are crucial aspects of living in Canada. Today, let us delve into the
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How to properly respond to CRA review letters?
Being the recipient of a CRA review letter might induce feelings of anxiety and confusion. However, with the right guidance, navigating these complex waters doesn’t need to be a daunting task. Canada Revenue Agency (CRA) review letters are standard part of the CRA’s due diligence to ensure the integrity of the tax system. They are
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2 popular ways to pay yourself: Salary or dividend?
As a Canadian corporation owner, one of the most important decisions you’ll make is how to pay yourself. Two common methods for doing so are salary and dividends. Each method has its own advantages and disadvantages, and understanding these can help you make an informed decision that best meets your needs. Salary A salary is
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How to authorize a CRA representative online?
CRA has update the way to give authorization to a representative. Here are the four options. Online: Client needs to log in My Business Account and add a new authorization there。 Online: A representative will submit the authorization request electronically, and client needs to log in My Business Account and approve the request. Online: A
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How to download slips from your CRA My Account
Have you ever got this question when preparing for your tax filing: am I supposed to receive the slip? For example, if you have an annual interest of $50 CAD or more, you will likely receive a T5 slip from your bank. But the question is, do you really know how much interest you earned this
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New Covid-19 Benefits for Businesses
The Canada Emergency Wage Subsidy, Canada Emergency Rent Subsidy, and Lockdown Support have come to an end. The Department of Finance Canada has proposed two new subsidies and an extension to a existing benefit in October to help businesses seriously affected by Covid-19. Tourism and Hospitality Recovery Program Who can apply? The program is targeting
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Canada Recovery Hiring Program (CRHP)
As the rate of Canada Emergency Wage Subsidy(CEWS) is gradually reducing, Canada Recovery Hiring Program(CRHP) is introduced by the federal government on June 6th, 2021. This program aims to support Canadian employers that are impacted by the Covid-19 pandemic, and most importantly to help Canadian economy to recover. To make the application process easier to
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Ontario Workers Income Protection Benefit (OWIPB)
The federal government of Canada has announced some subsidy programs to help business get through the Pandemic. On April 29th, 2021, the government of Ontario has announced the Ontario Workers Income Protection Benefit to help the implementation of vaccination. To make the application process easier to understand, here are the simplified eligibilities and details of
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Does International student have to file tax in Canada?
It is necessary for every Canadian resident, either citizen or non-citizen, to understand how tax return works in Canada. As international students, lots of expenses such as rental expenses and tuition fees notably increase your living costs in Canada, but the good news is, those expenses can be claimed when filing tax returns as your
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