For many Canadians, 2020 was a unique year and they may have many questions about what their taxes would look like in the 2021 tax season. Filing deadline The tax-filing deadline for most Canadians (for the 2020 tax year) is on April 30, 2021...
Read MoreHome office expenses: special rules for 2020
Under the Income Tax Act, an employee who is required to pay for employment expenses, including expenses for a home office, for which they are not reimbursed by their employer, may be able to claim a deduction on their return for such...
Read MoreSpousal RRSP
Canadian tax laws allow you to put funds into either your own RRSP or a spousal RRSP. A spousal RRSP allows you to contribute money to your spouse or common-law partner’s registered retirement savings plan, up to your personal contribution...
Read MoreCanada’s COVID-19 Economic Response Plan
On March 18, 2020, the Prime Minister announced a new set of economic measures to help stabilize the economy due to the COVID-19 outbreak. The new measures include: Individual and Trust Return 1. CRA will defer its filing due date for...
Read MoreCanadian: do I need to register for PST?
If you sell goods or provide services in Canada, you are required to collect sales tax from your customers on many of the items they purchase. Depending on the province or territory in which you operate your business, you need to collect either...
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