- What: An increase to the Old Age Security (OAS) pension, potentially up to $100 more per month ($1200 annually) for eligible seniors.
- Why:
In a recent review, the auditor general’s finding is that tax-filers are often getting inaccurate information from CRA agents.
The auditor general’s office assessed the quality of the test calls it placed and found only 17 per cent of the answers provided to non-account-specific or general questions about individual taxes were accurate — and those sort of calls make up about […]
The British Columbia Climate Action Tax Credit (BCCATC) has been cancelled as of April 1, 2025, along with the cancellation of the carbon tax itself. This means there will be no more quarterly BCCATC payments. While the CRA will still issue retroactive payments for previous benefit years, the last BCCATC payment was on April 4, 2025.
With less than a month to go before the tax-filing deadline, scores of Canadians say their online accounts with the Canada Revenue Agency still aren’t showing a variety of tax slips, including, for many, the crucial T4s that record employment income.
The issue is linked to a CRA systems update that has resulted in some tax-slip providers, […]
Capital gains
Under proposed changes, the capital gains inclusion rate will increase to 2/3 for capital gains realized after June 24, 2024. However, a new capital gains reduction will apply so that the effective inclusion rate for capital gains of $250,000 or less will remain at 1/2 for dispositions after June 24, 2024. In addition, […]