Category Archives: Personal Tax Issues

Crunch Time – Have you filed yet?

April 30th is approaching in just over a week (or 9 days if you are counting like I am!).  Have you filed your income tax return yet? Not sure if you have to file, check out this link on the CRA website for reasons why you should file: http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/flng-blgtns/menu-eng.html What happens if you don’t file: – if… Keep Reading …

Are you an early tax filer?

My sister Anita is an early filer.  She likes to get her return completed and efiled before I get crazy busy with client returns.  A couple of weeks ago on a Sunday, she dropped by with all her information and we got the return complete, forms signed and efiled.  A week later when I checked… Keep Reading …

RRSP Deadline – March 1, 2013

March 1, 2013 RRSP Deadline Deadline for contributing to your Registered Retirement Savings Plan (RRSP) for the 2012 tax filing year. To find your RRSP contribution room: – Check your 2011 Notice of Assessment – Go online to the Canada Revenue Agency website to get the amount. You can phone TIPS line http://www.cra-arc.gc.ca/esrvc-srvce/tps/menu-eng.html Or if… Keep Reading …

Healthy Homes Renovation Tax Credit

As a senior 65 years or older in Ontario, you could qualify for a tax credit to help with the cost of making your home safer and more accessible. The Healthy Homes Renovation Tax Credit is a permanent, refundable personal income tax credit for seniors and family members who live with them. If you qualify,… Keep Reading …

Making a list, checking it twice … Don’t forget the personal tax to do list.

December is a busy month, but make sure to take the time to do some tax and financial planning before the year is done. Make charitable donations before December 31st Make RESP contributions for children or grandchildren Top up your TFSA (tax free savings account) if you haven’t already made your maximum yearly contribution of… Keep Reading …