The CRA has made the home office expenses deduction available to more Canadians, and simplified the way employees can claim these expenses on their personal income tax return for the 2020 tax year. Ask us how.
Where the supplier is providing goods or services to an NPO in exchange for advertising and/or promotional services, a barter transaction may have occurred. Are you familiar with the barter system and it's tax implications?
When applying for the home accessibility tax credit (HATC), valued at 15% of up to $10,000 in expenditures per year, does it matter if the renovation increases the value of my home? Yes, and No.
Tips received by servers and other individuals in the service industry are taxable. However, since tips do not show up on T4 slips, some taxpayers are under the false understanding that they are either not taxable, or only partially taxable. In a Covid world with the subsidies available, you may not qualify if you've been declaring your tips incorrectly.
In a January 10, 2020 Federal Court of Appeal case, the Court conducted a judicial review of the denial of the taxpayer’s EI benefits. Do you know the rules?
Given that the COVID-19 pandemic has required many to work from home, many more will likely be eligible due to the fact they are spending more than 50% of their work time at home than in previous years.