Image by Freepik The British Columbia Renter's Tax Credit plays a crucial role in providing financial relief to individuals who rent their homes in the province. As we step into the
Canada's underused housing tax is a measure that was introduced by the federal government to discourage speculative activity in the housing market. The tax applies to residential properties that are
New immigrants to Canada such as permanent residents, international students and work permit holders are generally required to file a tax return in the year of their arrival, even if
The First-Time Home Buyers' Tax Credit (HBTC) is a non-refundable tax credit that is available to eligible first-time home buyers in Canada. This tax credit is intended to help offset
The Home Accessibility Tax Credit (HATC) is a non-refundable tax credit available to Canadian homeowners who make eligible expenditures to improve accessibility for individuals with disabilities in their homes. It
As a dual citizen of Canada and the United States, it's important to understand your tax obligations in both countries. In general, Canadian citizens are required to pay taxes on
The T2202 form is a tax form used in Canada to report tuition and education amounts paid by a student to claim the tuition tax credit. The amount of tuition
Use Form T777 to calculate your allowable employment expenses. Include Form T777 with your income tax and benefit return. A T2200 form is a Declaration of Conditions of Employment in Canada. It is used by employees
In Canada, the cost of child care varies depending on factors such as location, age of the child, and type of child care (e.g. in-home care, daycare center). On average,
Charitable donations in Canada are regulated by the Canada Revenue Agency (CRA). To be considered a charitable donation, the organization must be registered with the CRA as a charity and
Attendant care expenses in Canada refer to the cost of personal care services for individuals with physical or mental disabilities. These expenses may include the cost of in-home care, respite
Tax-Free First Home Savings Account (FHSA) gives a prospective first-time home buyer theability to save $40,000 on a tax-free basis. FHSA has an $8,000 annual contribution limit inaddition to a
TFSA is one of the best ways to save tax on savings and investments. Each year CRA announces a TFSA threshold that applies to everyone that tax year. Your own
With rents going up in recent months in Vancouver and nearby areas we get a lot of landlords who are unaware of the rental expense deductions available. There are two
Summer is almost here and its the most popular moving time of the year. During this period and tax time we get this common question about the moving expense tax
It is time to file personal taxes for 2022 and one of common deduction in 2022 is the work from home expense deduction. And most of our clients have this
We are in the peak tax season and below is a list of things we recommend collecting and bringing with you when you come to file your taxes. This makes
Have you been subscribed to an online news service in the last tax year? Now you can claim tax credits on the amount you paid. Federal government introduced this tax
One of the changes for tax year 2021 filing in year 2022 tax season is that CRA has now made an option to forego multi-factor authentication (Second level login by
CanaTax was founded in Vancouver, British Columbia by a team with over three decades of combined experience in accounting and tax planning.
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