Tips – Taxonic Corporation

FHSA vs. HBP: Which is Better?

admin — Sat, 28 Feb 2026 15:25:29 +0000

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 […]

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How to effectively retrieve your Ontario Property Assessment Notice from MPAC?

admin — Thu, 12 Oct 2023 15:24:36 +0000

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

admin — Tue, 26 Sep 2023 15:36:07 +0000

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?

admin — Thu, 31 Aug 2023 19:59:34 +0000

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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How to authorize a CRA representative online?

admin — Thu, 27 Oct 2022 20:54:07 +0000

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

admin — Thu, 18 Aug 2022 19:47:18 +0000

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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