Tax Season in Canada | Yahoo Canada

Judge’s rejection of CRA’s expense denial is sweet music to taxpayer’s ears

Jamie Golombek: Can a parent’s expenses to help their child’s career ever be tax deductible? In this Tax Court case, the answer was yes

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BusinessFinancial Post
Tax system not built to keep up with inflation — and it's hurting some Canadians more than others
Jamie Golombek: Not all taxes are indexed, creating distortions that magnify the effects of rising prices, C.D. Howe report says

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BusinessFinancial Post
The CRA has clarified the rules for its new home renovation tax credit: What you need to know
Jamie Golombek: Main home and secondary unit for a relative can be built at same time and still qualify for $7,500 credit

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BusinessFinancial Post
CRA wins one, loses one as government pursues pandemic benefits it deems questionable
Jamie Golombek: Two new cases provide glimpse into types of claims being reviewed and, consequently, denied

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LifestyleThe Canadian Press
Spending on fun isn’t impossible — it’s just hard, experts say
When the cost of nearly everything is on the rise it can be difficult for young Canadians to imagine putting money aside for wants, rather than solely for needs. However, spending on the ‘fun’ things in life isn’t an impossible reach for Millennials and Gen Z, say experts — it might just require sacrifice and a new outlook. “What we’re used to in the past is completely different from what we’re seeing today,” said Barry Choi, a personal finance, travel and millennial and generation Z money exper

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BusinessFinancial Post
CRA, court reject corporation's 'blame the accountant' excuse for late tax filing
Jamie Golombek: Here's why a business owner lost his bid to overturn late penalties and interest

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BusinessFinancial Post
Court backs CRA in rejecting Montreal couple's $54,000 moving expense claim
Jamie Golombek: Moving closer to work isn't enough to claim expenses

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BusinessFinancial Post
Simple tax reforms for retirees that the government could consider
Plenty of ideas on how to encourage and prolong Canadians’ retirement savings

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BusinessFinancial Post
First home savings account rules can get tricky when partners are involved
But if you do qualify contributing to an FHSA is truly without risk

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US PoliticsFinancial Post
Taxpayer's 'genuine' TFSA contribution mistake still leads to CRA tax and penalty
Jamie Golombek: He ran afoul of TFSA limit and went to court to get CRA to reconsider his case, and ended up disappointed

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NewsFinancial Post
Taxpayer who hired mother-in-law, wife as assistants gets pushback from CRA
Jamie Golombek: CRA often challenges expenses when employee in higher tax bracket redirects income to low-income family member

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