On February 19, 2021, the CRA has announced a proposed extension to the Canada Recovery Benefit (CRB) and Canada Recovery Caregiving Benefit (CRCB) eligibility period limits. The change would allow eligible recipients to apply for a...
Read MoreCross Border: how to deduct 401(k) plan when filing Canadian tax return
For Canadian residents who commute across the border for work and contribute to a retirement plan with the employer in the United Sates, the form RC268: Employee contributions to a United States retirement plan – cross-border commuters can be...
Read MoreCanadians: tax changes for 2021
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...
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