Tax Articles

Tax ArticlesFocused22020-12-01T12:05:21-08:00

CRA Changes for 2020

Focused22021-01-13T17:27:33-08:0001/13/2021|

CRA Changes for 2020 The CRA has made some changes for 2020, in light of the special circumstances [...]

Employee Home Office Expense Claim

Focused22020-12-15T11:47:25-08:0012/15/2020|

New Simplified Home Office Deduction The CRA recognizes that more employees are required to work from home. This may [...]

Digitizing your Tax Documents

Focused22020-12-19T12:34:21-08:0012/10/2020|

You should digitize your tax documents Why Digitize? While paper documents were preferred by the CRA for many years, [...]

6 Considerations re Expense Claims

Focused22020-12-09T14:22:38-08:0012/09/2020|

1. Pre-Processing and Post Processing Reviews The Canada Revenue Agency ("CRA") may ask for supporting documents after you have [...]

Calculating the tax you may owe on COVID Benefits

Focused22020-12-07T11:52:03-08:0012/07/2020|

Author: Jamie Golombek Managing Director, Tax and Estate Planning, CIBC Private Wealth Management Overview for Calculating Taxes on COVID [...]

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CRA Changes for 2020

Focused22021-01-13T17:27:33-08:0001/13/2021|0 Comments

CRA Changes for 2020 The CRA has made some changes for 2020, in light of the special circumstances during the COVID 19 pandemic COVID-19 federal and provincial benefits These appear on a T4A slip in boxes 197 to 204 and are reported on line 13000 as taxable income. [...]

Employee Home Office Expense Claim

Focused22020-12-15T11:47:25-08:0012/15/2020|0 Comments

New Simplified Home Office Deduction The CRA recognizes that more employees are required to work from home. This may result in additional costs for the employee, which should be allowed as a deduction on their tax returns. The CRA has issued a new policy in recognition of the special [...]