Description: If you are a student, you should be filing a T-1 Canadian income tax return, even if you don’t think you have earned money in the last year. Tax credits like the GST/HST credit and the Carbon Rebate have the unique feature of being dropped directly into your bank account, versus serving to reduce… Read more »
Posts Categorized: Personal Tax
A Rather Unique Escape Room
Description: The Canada Revenue Agency (CRA) has launched a unique service to help educate Ottawa residents how to avoid being defrauded. Inside the city’s St. Laurent Shopping Centre mall shoppers will find the the ‘Be Smart Scam Escape Room’ where they can move about three rooms, answering various challenges that will boost their knowledge about… Read more »
When to Call a Pro
Description: Very affordable and easy to operate software has made tax season a lot less tougher than it used to be in the good old days. The Canada Revenue Agency (CRA) has even compiled a list of free or inexpensive software choices to help you along the way. The CRA website is also an excellent… Read more »
Tavares and CRA in $8 million dispute
Description: John Tavares, captain of the Toronto Maple Leafs, is suing the Canada Revenue Agency in an $8 million dispute regarding a reassessment of his 2018 income tax return. The essence of the dispute relates to the taxation rate on his $15.25 million signing bonus. Tavares and his advisors believe the bonus should be taxed… Read more »
A New Gilded Age?
Description: It didn’t take long for many Canadian CEOs to earn more in a few hours than regular Canadians take all year long to earn: it took a bit over eight hours for them to surpass the average Canadian’s annual salary of $60,606. The Canadian Centre for Policy Alternatives released a study showing the top… Read more »
155,000 Public Servants On Strike
Description: On Wednesday morning we woke to the news that 155,000 federal public servants had gone on strike. While the union has been asking for a 13.5% increase spread over three years, the federal government’s best offer is pegged at 9%. The striking workers include 35,000 from the Canada Revenue Agency (CRA), raising potential problems… Read more »
Tax Decisions with Living Together
Description: With tax season in full swing – despite the strike in effect at the Canada Revenue Agency (CRA) – experts agree that it is important that Canadians know how living together can impact your taxation status. With societal trends indicating that common-law relationships are especially prevalent among those 20-24 years old, many may be… Read more »
CRA Employees to Strike?
Description: Canada Revenue Agency (CRA) employees and the Government of Canada are currently at a collective-bargaining impasse. Strike votes are taking place between now and April 7, right in the heart of tax season, when individuals and businesses are normally flooding the CRA call centres with taxation questions. Union President Marc Brière has noted that… Read more »
One in Ten?
Description: Ten to twelve percent of Canadians are not filing their annual T-1 tax returns. And perhaps even more surprising comes the news that the government actually owes money to many of them. Prosper Canada is seeking to build financial literacy among lower-income Canadians, encouraging them to file their returns to claim cash for various… Read more »
Help with Inflation
Description: The Government of Canada is directing financial relief to citizens with lower income to help them deal with this current inflationary environment. One measure is the doubling of the Goods and Service Tax Credit (GSTC) for those with family incomes under $39,826 in 2021. A second measure, the Canada Dental Benefit, will provide cash… Read more »
Burnley Understanding Financial Accounting, 3rd Canadian Edition
Kimmel Financial Accounting, 8th Canadian Edition
Weygandt Accounting Principles, 9th Canadian Edition
Kimmel Survey of Accounting, 2nd Edition
Kieso Intermediate Accounting, 13th Canadian Edition
Weygandt Managerial Accounting, 6th Canadian Edition
Farmer Cost Accounting, 1st Edition
Savage Accounting Information Systems, 1st Edition