Category: Common Canadian Taxation Uncertainties

One of the most common mistakes is not accounting for all cash you earned that’s right tips are taxable income income can result in significant penalties and information missing from your turn can be costly. If you’re working in the hospitality industry and getting tips through a side cake make...

Be sure to keep ALL your documents for at least six years pertaining to INCOME, EXPENSES, EMPLOYMENT, BUSINESS, LIVING SHELTER, and when in doubt DON'T THROW IT OUT the CRA can request them at any time if the return is selected for a detailed review. If your return is reviewed...

No matter whether they were sent or not you’re responsible for your information slips if you forget to report your information slips twice in a four year. Your face severe penalties and your return will be audited. To avoid missing information slips you can make sure you let Cra and...

If you went to school I worked outside the country but you have significant residential ties to Canada such as a home spouse or dependent you need to fill out a Canadian tax return even if you don’t have significant tires you might still need to file a return if...

If you have paperwork to support your claims you can go back up to 10 years to request adjustments to claim credits and deduction that you may have missed before. Plus there’s no limit to adding any income to your past returns. For example let’s say you found an old...

You might be able to claim some of your business expenses to reduce taxes that are payable. However these expenses must be work related meeting you won’t be able to claim personal expenses for example you can’t claim the cost of dry cleaning your hair styling products you use for...

If you’re not reporting much income this year or even at all you should still file a return filing your return means getting access to federal and provincial benefits. When making this little amount, you likely have significant benefits owed to you.