An important deadline is approaching for non-residents with certain Canadian-source income. June 30 is the deadline to file elected returns under Section 216 (pertaining to rental income) and Section 217 (pertaining to Canadian source pension income). There may be significant consequences for missing this deadline as returns received after this date, generally aren’t accepted. Here’s what you need to know:
The New Brunswick provincial budget was delivered on February 4. The budget reduces the deficit but a balanced budget is not expected until 2017. The budget promised a 3% increase in social assistance rates beginning in April.
Provincial and territorial budget dates have yet to announced for Ontario (expected the first week in May), Prince Edward Island (expected soon after the legislature opens in April), and Nunavut (expected late in May),
Because of the way that dividends are taxed, both at the federal level and the provincial level, the amount of tax payable on a given dividend depends of the taxpayer’s taxable income (as well as their province of residence).
It’s crunch time when it comes to tax filing. Most taxpayers will have received all their T slips – T4s, T3s, T5s, etc. and now it’s time to actually get it done.
There has been a lot said and written about the state of the middle class, with some people claiming that we are worse off now than we were 30 years ago.