Wildfires: Apply for Taxpayer Relief Provisions
It may not be the first concern, but Canadians affected by wildfires may worry at some point about the tax consequences of lost records or missed filing deadlines – the next one on June 16 for those filing T1 returns with proprietorship income. Fortunately, the CRA offers Taxpayer Relief Provisions when there are circumstances beyond a taxpayer’s control, including natural disasters, serious illness or death in the family, or errors made by the CRA, which may trigger penalties and interest due to late or incomplete tax filings. Here’s what you need to know.First Bill to Implement Budget 2014 Becomes Law
Bill C31, an Act to implement certain provisions of the budget tabled in Parliament on February 11, 2014 and other measures, received Royal Assent on June 19.
Major Banks to Assist Financially Vulnerable Canadians
Delivering on a promise made in the Economic Action Plan 2014, Finance Minister Joe Oliver announced that the Government of Canada secured voluntary commitments from the country’s eight largest banks to provide low-cost or no-cost bank accounts to low income Canadians by January 15, 2015.
Tax Court Provides Clarity on Harsh Provision
Judges are forced to apply the law as it reads, but fortunately for taxpayers there is sometimes room for interpretation.
Evelyn Jacks: Warm Holiday Counts as Reasonable Medical Expenses?
Should taxpayers be able to deduct travel expenses to warmer climates as medical expense tax credits (METCs) to alleviate pain and suffering?
How much can I claim for the Children’s Arts Amount?
Your refund can grow by up to $75 with this federal tax credit.
Medical Claims in the Year of Death
A special rule applies to claiming medical expenses when a taxpayer dies.
