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?
If moving out of a property that was occupied for a short period, ensure you maintain documents and proof that you had intended to establish residential roots and live there. Don't get caught with a hefty tax bill; reach out to us today.