Yahoo Home Tax return information and key deadlines for Canadians
Tired of getting spam calls? Here's why you may never be rid of them
- Spam calls — or "scam calls" as they're also known — have become an infuriating part of life. By now, most people are well acquainted with fraudsters trying to dupe you out of your cash by impersonating government officials or Amazon employees. "I'm still getting a lot of spam calls," said Pradeep Selvaraj, an IT professional in Whitby, Ont., who has posted about the issue on his YouTube channel. Salvaraj estimates he receives two to three calls a week from scammers — often while at work. They c
- CBC
Ottawa wants to automatically file taxes for low-income Canadians — and perhaps eventually for everyone
With Monday's deadline for Canadians to file their income taxes for 2022, experts say a new pilot program for the government to automate the process for low-income Canadians is a long overdue step on the road toward doing them automatically for everyone. In the recent federal budget, the government announced the creation and expansion of a couple of pilot programs aimed at getting millions of low-income Canadians to file their taxes, and giving them access to benefit programs they are entitled t
- Financial Post
Why CRA denied taxpayer's medical expense claims related to moving because of disability
Jamie Golombek: Judge says taxpayer was seeking a benefit that is not provided to anyone under the Income Tax Act
- The Canadian Press
Owe money to the CRA this tax season? Here are some repayment options
OTTAWA — Getting an income tax refund can be a happy bonus for your household budget, but an unexpected tax bill can be an unpleasant surprise, especially if you don't have the cash on hand to pay it. But, experts say, the Canada Revenue Agency is willing to work with taxpayers to arrange payment plans and may even be able to offer a break on the interest you might otherwise have to pay. Aaron Gillespie, an enterprise tax partner at KPMG in Hamilton, said if you don't have the cash to pay your b
- The Canadian Press
How becoming common-law or getting hitched changes tax-filing season
As more Canadians enter common-law relationships, experts are encouraging young couples to educate themselves on the tax implications. “There are credits that you may be used to getting, if you're a single person,” said Stefanie Ricchio, a Toronto-based CPA. “There is a little element of surprise.” In 2021, more than one in five Canadian couples were common-law, meaning they lived together in an official, legal union without being legally married. That’s a 447 per cent growth in common-law coupl
- Financial Post
How the CRA strike will affect your tax returns, refunds, benefits and more
Jamie Golombek: If you're getting a refund, CRA will pay you interest at a rate of 7%, compounded daily, from May 31
- Financial Post
Backing up expense claims on your taxes could save you from CRA trouble
Jamie Golombek: Failure to supply adequate receipts landed one taxpayer in hot water with the CRA
- The Canadian Press
‘Ask a lot of questions’ before deciding what to do with your tax refund: experts
When Julian Shenoy receives his tax refund this year, he plans to set aside some of it for investments and the rest for travel. “With the pandemic and such, everything was closed over the last three years, so most likely (I’ll put) more of a proportion of it toward leisure — maybe 50 per cent of it toward investing and 50 per cent toward a holiday,” Shenoy said in a phone interview. The millennial based in Toronto said he’s “pretty lucky” not to have accumulated as much debt as many others have
- Financial Post
How to take advantage of the new tax-free first home savings account
Jamie Golombek: Here's what you need to know about Canada’s newest registered savings plan
- The Canadian Press
What you need to know about the first-time homebuyers savings account
TORONTO — Jeremy Kinnear is 23 and already thinking about home ownership. Fresh out of university, the Edmontonian is in the midst of a four-year job program that will require him to move to Calgary halfway through. After that, he hopes to put down roots. So when Kinnear got a call from his broker earlier this year about the new Tax-Free First Home Savings Account (FHSA), he was excited about taking advantage of the program. "I'm pretty young, so I've been saving as much as I can right now. I ne
- Financial Post
Budget's changes to 3 registered savings plans could affect how you invest this year and beyond
Jamie Golombek: Here's what you need to know about budget changes that may affect your investment strategies
