Personal
CRA Further Extends Payment and Filing Deadlines
The CRA is further extending the payment due date for 2019 individual tax returns and 2019 or 2020 corporation, or trust returns, as well as for instalment payments, from September 1, 2020, to September 30, 2020. Penalties and interest will not be charged if payments are made by the extended deadline of September 30,… Read More about “CRA Further Extends Payment and Filing Deadlines”
CRA Personal Tax Deadline Announcement
The deadline for most individuals to file their 2019 taxes has been extended to June 1, 2020. The deadline to pay amounts owed has also been extended to September 1, 2020. Penalties and interest will not be charged if payments are made by the extended deadlines of September 1, 2020. This includes the late-filing penalty as… Read More about “CRA Personal Tax Deadline Announcement”
COVID-19 Financial Relief for Canadians- summary
Since the beginning of March, restrictions and measures related to COVID-19 have rapidly escalated. On March 18, 2020, the Government of Canada announced a series of mesaures designed to help Canadians. Since then, new possibilities have been introduced and old ones have been adjusted. Click here to read a summary… Read More about “COVID-19 Financial Relief for Canadians- summary”
Ways to drop off your tax information to our office
We have been proactively taking measures to limit the spread of COVID-19, and are continuing to restrict access to our office to only Ritchie Shortt Tully & LLP team members until further notice. We understand you may have some questions, as our normal process has changed, during this unprecedented time…. Read More about “Ways to drop off your tax information to our office”
Support for families
While schools and child care centres are closed, parents can apply for direct funding to offset the cost of buying materials to support their children’s learning, while they practice self-isolation and physical distancing. There is no income cap on this program. Eligible parents will receive a one-time per child payment of:… Read More about “Support for families”
Canada Emergency Response Benefit
The government has proposed legistlation to establish the Canada Emergency Response Benefit (CERB), to help those who have lost income because of COVID-19. The CERB will provide you with temporary income support of $500 a week for up to 16 weeks. The benefit will be available to workers: Residing in Canada who… Read More about “Canada Emergency Response Benefit”
How to get set up with CRA My Account
CRA My Account is a secure portal that lets you view your personal income tax and benefit information and manage your tax affairs online. To register for CRA My Account you will need: your social insurance number; your date of birth; your current postal code and; an amount you entered on your income… Read More about “How to get set up with CRA My Account”
Federal government announces broad tax deadline extensions
The federal government announced additional extensions to many for tax-related deadlines. Most federal tax filing deadlines have been extended to June 1, 2020, including the March 31 deadline for T1134 forms and T2s. The filing deadline for the T5013 partnership return and other information that individuals will need to complete… Read More about “Federal government announces broad tax deadline extensions”
Important changes to tax-filing and payment deadlines
The CRA understands that individuals and businesses might be dealing with difficulties in filing their income and benefit returns, and in cash-flow problems in the coming months. Click here to see important changes and information, some of which affect tax-filing and payment deadlines, and the ways you can interact with… Read More about “Important changes to tax-filing and payment deadlines”
Child Care Deductions: What can I claim?
If you are a parent who has to pay for child care while you go to work or school, the payments you make for child care (subject to some restrictions listed below) can be a deduction from your gross income. You can claim the following childcare expenses incurred in the tax year:… Read More about “Child Care Deductions: What can I claim?”
