General
Things to consider after your Personal Tax Return is Filed
By now, you are probably relieved that your personal tax returns have been completed. However, there are a few things you should consider even after the return has been filed. Review your Notice of Assessment You should ensure that the return was in fact assessed as filed. CRA sometimes reassesses… Read More about “Things to consider after your Personal Tax Return is Filed”
2019 Federal Budget
On March 19, 2019, the federal government released their 2019 budget which proposed to help younger home-buyers get into the housing market, increased support for skills training as well as for research and development, and introduced steps toward a national pharmacare strategy. The federal government also proposed clean energy vehicle incentives… Read More about “2019 Federal Budget”
Staying organized can help you avoid interest and penalties
By now, you have most likely received various envelopes in the mail over the last few weeks with tax slips required to file your personal tax return. These tax slips are very important, not only because they are required to file your tax return, but they summarize the income you… Read More about “Staying organized can help you avoid interest and penalties”
Tax-Free Savings Account (TFSA)
What is a TFSA? A TFSA is savings account that individuals of age 18 or older can contribute to over their lifetime. Any contributions are not deductible for income tax purposes but the interest and dividends earned on those contributions are tax-free even when an amount is withdrawn. Setting up… Read More about “Tax-Free Savings Account (TFSA)”
The Canada Pension Plan Enhancement
Background As of January 1st 2019, Canadian workers will contribute more to the Canada Pension Plan (CPP). This new change affects all workers in Canada except Quebec and plans to increase the maximum retirement pension by about 50% by 2024. Who contributes to CPP? Any workers in Canada except Quebec… Read More about “The Canada Pension Plan Enhancement”
Do I need to register for WSIB?
The following link provides information for employers on whether your business needs to register or not as well as the steps required to register including a downloadable registration form. http://www.wsib.on.ca/en/community/WSIB
