Child care expenses are claimable if paid to a third party while you or your spouse work or study, with only the lower-income spouse eligible to claim. The child must be under 16 or have a disability. Receipts with specific details are required to support claims for various childcare services.
Bare trusts and in-trust (ITF) accounts may need to file a T3 income tax return.
I am pleased to announce that Tax Tips and traps is back! In this quarterly edition: Tax ticklers - Some points to considerStarting a business and not getting paid - Can I collect EI?Tips- Reporting IssuesReal estate sales- Taxable or not?Contributions of goods and services to an NPO- Tax ImplicationsHome accessibility renovation credit - Increase in Home Value?Working from home…
This newsletter has been prepared to provide an overview of the tax measures and assistance available to businesses and families in the midst of the Covid-19 pandemic. A copy of this newsletter can be downloaded here. It is a concise summary of the measures announced up to and included Wednesday April 9, 2020. Discussed in the newsletter: Filing deadline and…
The Government of Canada has announced the Canada Emergency Wage Subsidy (CEWS) that will provide a subsidy of up to 75% of wages paid to a maximum benefit of $847 per week per employee.
If you have lived or worked in the U.S., you may have an Individual Retirement Account (IRA) or 401k plan. Leaving these accounts in the U.S. can be administratively challenging and you may wish to consider moving them to Canada. In certain circumstances, a person with a 401k or IRA may be able to rollover their U.S. retirement account to a Canadian…
