Tax News

Tax News2022-12-31T14:51:19-08:00

The Underused Housing Tax is an annual federal 1% tax on the ownership of vacant or underused housing in Canada that took effect on January 1, 2022.

The tax generally applies to foreign national owners of housing in Canada. However, in some situations, this tax also applies to some Canadian owners (such as […]

The CRA has decided that home office expenses can only be claimed if the employer requires the employee to work from home more than 50% of his/her work days.

The flat rate of $2/day has been discontinued for 2023.

For an employee to claim employment expenses the employer must confirm the need to incur various expenditures on a signed T2200 Conditions […]

Budget 2023 introduced an annual income-tested renter’s tax credit that will give $400 to low- and moderate-income renter individuals and families with an adjusted income of $60,000 or less. Individuals and families with an adjusted income greater than $60,000 and less than $80,000 may receive a reduced amount.

You can start claiming the renter’s tax credit on the 2023 […]

The Canada Revenue Agency (“CRA”) has announced the following changes to the Income Tax Act for 2023.

Advanced Canada workers benefit (ACWB)

Advance payments of the Canada workers benefit (“CWB”) are now issued automatically under the ACWB to those who received the benefit in the previous tax year. As a result, Form RC201, Canada Workers Benefit Advance Payments Application, has been […]

CRA Response Times

I have noticed that it can take 2 hours or more to get through on the CRA’s telephone line (1-800-959-8281). This has been true in the height of tax season (Feb-Apr) as well as other times. The alternative is to agree to have us represent you by signing an authorization form (AUTHREP) that will enable us to access […]

The Canadian Dental Care Plan (CDCP) is helping make the cost of dental care more affordable for eligible Canadian residents aged 65 and over, children under the age of 18 and adults with a valid Disability Tax Credit certificate.

Qualifications

To qualify for the CDCP, you must meet all 4 of […]
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