Ontario Trillium Benefit
Ontario Trillium BenefitThrough refundable tax credits, the Province provides relief to low- to moderate-income Ontarians for the taxes and energy costs they face. Through the Ontario Trillium Benefit...

Tax planning for year-end charitable donations (November 2020)
Canadians have a well-deserved reputation for supporting charitable causes, through donations of both money and goods. Our tax system supports that generosity by providing a tax credit for qualifying ...

Coming clean with the tax authorities – the Voluntary Disclosure Program (November 2020)
The Canadian tax system is a “self-assessing system” which relies heavily on the voluntary co-operation of taxpayers. Canadians are expected (in fact, in most cases, required), to complete and fil...

Claiming a deduction for moving expenses (November 2020)
One of the more unexpected effects of the current pandemic has been the impact on the Canadian real estate market. In each of July, August, and September 2020 the number of home sales, especially in m...

Federal government expands and extends business pandemic relief programs (November 2020)
Since the pandemic began early in 2020, and especially after many non-essential businesses were required to close temporarily as a public health measure, the federal government has brought forward a b...

New Quarterly Newsletters (Q3 2020)
Two quarterly newsletters have been added—one dealing with personal issues, and one dealing with corporate issues....

When the taxman has a few questions… (September 2020)
Between mid-February and mid-August of this year, the Canada Revenue Agency (CRA) received and processed just over 29 million individual income tax returns filed for the 2019 tax year. The sheer volum...

Keeping track of 2020’s changing federal tax deadlines (September 2020)
When the state of emergency was declared in March of this year, the federal government extended the usual deadlines for both the filing of individual tax returns and payment of taxes owed, for both 20...

Transitioning from the Canada Emergency Relief Benefit (September 2020)
Of all the many financial relief programs introduced by the federal government to address the economic impact of the pandemic, probably none has had a bigger impact than the Canada Emergency Relief Be...

Paying income tax instalments in 2020 (August 2020)
Most Canadians who participate in the paid work force do so as employees. Consequently, they receive a regular paycheque from their employer and they pay income taxes by means of amounts deducted from...

Protecting yourself from tax and benefit scams (August 2020)
It’s an acknowledged reality that times of crisis bring out both the best and the worst in people. While most Canadians would never consider using the current pandemic as a means of defrauding other...

Changes to the Canada Emergency Wage Subsidy Program (August 2020)
When states of emergency were being declared across the country in March of this year, thousands of businesses were forced to close their doors and, as a result, were faced with the necessity of layin...

Getting financial and tax assistance for post-secondary education costs (August 2020)
For post-secondary students the upcoming academic year is going to be unlike anything they have previously experienced. Post-secondary institutions across the country are now determining whether, and ...

Whether (and when) to stop contributing to the Canada Pension Plan (July 2020)
When the Canada Pension Plan was put in place on January 1,1966, it was a relatively simple retirement savings model. Working Canadians started making contributions to the CPP when they turned 18 year...

Mortgage lending rules tighten again on July 1, 2020 (July 2020)
Just over a decade ago, it was possible to buy a home in Canada with no down payment — financing 100% of the purchase price — and extending the repayment period for that borrowing over a 40-year p...

Fixing a mistake in your (already filed) tax return (July 2020)
While Canadians had an extended time this year to file their income tax returns for the 2019 tax year, the extended filing deadlines (June 1 for the majority of Canadians, and June 15 for self-employe...

Tax and financial planning for the pandemic (July 2020)
While the standard (and accurate) advice is that tax and financial planning are best approached as activities to be carried on throughout the year, it’s also the case that a mid-year tax and financi...