If your employer requires you to pay expenses to earn employment income, under certain conditions, you may be eligible to deduct employment expenses. Allowable employment expenses will be reported on…
Uniforms are not a taxable benefit if the purpose is to protect the employee from the job hazards or are distinctive uniform such as identifying the employer. If it does…
For 2020 TFSA annual limit is $6,000. Someone who never contributed to TFSA and is eligible the total contribution limit room is $69,500. Return on the investment inside the TFSA…
What is pension income splitting? A tax payer can be able to elect jointly with his/her spouse or common-law partner to split eligible pension income as long as meet all…
Tutoring services Income Tax Act Section 118.2(2)(l.91) provides that eligible medical expenses may include amounts paid as remuneration for tutoring services provided to a patient where the following conditions are satisfied:…
2016 New Tax Credit for Eligible School Teachers There is a new refundable tax credit for 2016 and beyond: the Eligible Educator School Supply Tax Credit. If you are…
Education and Textbook Tax Credits Budget 2016 proposes to eliminate the federal education and textbook tax credits effective January 1, 2017. This measure does not eliminate the tuition tax credit.…
Budget 2016 proposes to phase out the children’s fitness and arts tax credits: - Effective for the 2016 taxation year, the maximum eligible amount per child will be reduced to…
In order to receive Canada child benefit (CCB) you have to file your 2015 and any other outstanding tax returns as soon as possible. What is CCB? The CCB is…