Canadian individuals. CRA news and updates about Corporate tax(T2), GST/HST, payroll, information return/dividend and business subsidies, etc.
Saving for your first home in Canada is a marathon, not a sprint. To help you cross the finish line faster, the federal government offers two major tax-advantaged tools: the First Home Savings Account (FHSA) and the Home Buyers’ Plan (HBP). While they both aim to help you buy a home, they work very […]
FHSA vs. HBP: Which is Better? Read More »
T1 Checklist Powered By EmbedPress Other Forms CRA T1 Authorization Form Click to download Rental Receipt for Landlord Click to download
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,
How to effectively retrieve your Ontario Property Assessment Notice from MPAC? Read More »
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
Unlock 5 Stars of Empowerment: Tax Filing for Newcomers Read More »
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
How to properly respond to CRA review letters? Read More »
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
How to download slips from your CRA My Account Read More »
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
Does International student have to file tax in Canada? Read More »
