Due to the COVID-19 pandemic, many employees worked from home during a portion of 2020. On December 15, 2020, CRA released guidance on two new options available for employees claiming expenses related to working from home on their personal tax...
On December 21, 2020, CRA launched the Canada Emergency Wage Subsidy (CEWS) Employer Search, which allows users to search a listing of 340,000 CEWS applicants. The results, which are updated daily, display the legal name, operating/trade name, or...
The maximum pensionable earnings and contribution rate for 2021 have now been released and are a surprise to many; the cost of CPP is significantly increasing. Year Max. Pensionable Earnings ($) Employer/ee Contribution Rate (%) Max. Annual...
RRSP You have until Monday, March 2, 2020 to make tax deductible Registered Retirement Savings Plan (RRSP) contributions for the 2019 year. Consider the higher income earning individual contributing to their spouse’s RRSP via a “spousal...
Ramona Holm CPA Professional Corporation In this edition: TAX TICKLERS .…..……………………… 1 SPECIAL WORK SITE ALLOWANCE ……………………………… 1...
Houses aren’t cheap. In all likelihood, you’ll need the help of a mortgage to afford one – even if you bought a bunch of bitcoins in 2012 and haven’t touched avocado toast in years. But mortgages can be intimidating, in no small part because of...
To begin, this is just a friendly reminder that the deadline for RRSP contributions for the 2017 tax year is Thursday, March 1, 2018. You may be asking yourself… what investments should I be holding inside of my RRSP? Well, when deciding...
If you’re Canadian, chances are you’ve had thoughts like these: Why is my bank balance always so close to zero? If I could only get out of debt, I could save properly for retirement. I wish I made more money! The good news is that the real issue...
Over the past while there have been numerous reports of individuals (scammers) impersonating CRA collections agents over the phone and demanding payments for alleged tax debts. The calls can be aggressive, intimidating, and may even threaten...