By Liz O'Dowd on August 2, 2012 
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During your summer vacation this year, will you be visiting any of Canada’cities, national parks, or world-class tourist destinations, or will you be enjoying the simple pleasure of lounging by the local pool? Wherever your summer vacation takes you, make… {Read more}
By Liz O'Dowd on August 2, 2012 Leave a comment
The most common deductions that apply to students are moving expenses and child care expenses. Moving Expenses You can deduct moving expenses if you move to attend courses as a full-time student or if you moved to start a new… {Read more}
By Liz O'Dowd on August 2, 2012 Leave a comment
A tax return must be filed if you have to pay income taxes. A tax return must also be filed if you have not repaid all amounts withdrawn from your RRSP under the Home Buyers’ Plan or the Lifelong Learning… {Read more}
By Liz O'Dowd on August 2, 2012 Leave a comment
Wages paid to some shareholders and family members are not insurable, and these employees cannot collect employment insurance benefits. a. You may not have to pay EI premiums for employed family members. The Employment Insurance Act S. 5(2)(i) states that… {Read more}
By Liz O'Dowd on July 27, 2012 Leave a comment
The Department of Finance released two sets of draft legislative proposals to strengthen and create greater fairness in Canada’s tax system. The first set of proposals would implement measures announced on July 20, 2011 relating to the taxation of specified… {Read more}
By Liz O'Dowd on July 27, 2012 Leave a comment
The SR&ED program is a federal tax incentive program, administered by the Canada Revenue Agency (CRA), that encourages Canadian businesses of all sizes, and in all sectors to conduct research and development (R&D) in Canada. It is the largest single… {Read more}
By Liz O'Dowd on July 27, 2012 Leave a comment
Employees in Canada who are not Canadian residents, and who are in regular and continuous employment in Canada, will be subject to the same tax deductions as Canadian residents. These deductions include federal and provincial income tax, employment insurance premiums,… {Read more}
By Liz O'Dowd on July 20, 2012 Leave a comment
The Government of Ontario announced the Ontario Trillium Benefit (OTB) in its March 2011 budget. The OTB combines three existing credits into one payment. Starting in July 2012, the Ontario energy and property tax credit, the Northern Ontario energy credit,… {Read more}
By Liz O'Dowd on July 20, 2012 Leave a comment
As part of their ongoing efforts to improve electronic filing processes, the Canada Revenue Agency (CRA) is pleased to announce the extension of the electronic filing season for 2011 T1 tax returns. Starting this fall, the electronic filing systems, EFILE Online,… {Read more}
By Liz O'Dowd on July 20, 2012 Leave a comment
Minister of National Revenue, today met with members of the local business community to discuss a number of initiatives the Canada Revenue Agency (CRA) has introduced to reduce the burden placed on small businesses. “I am pleased to announce that… {Read more}