Wildfires: Apply for Taxpayer Relief Provisions

Canadians affected by wildfires may also be concerned about the tax consequences of lost records or missed filing deadlines. Fortunately, the CRA offers Taxpayer Relief Provisions for circumstances beyond a taxpayer’s control. These can apply in cases involving natural disasters, serious illness or death in the family, or errors made by the CRA—any of which may lead to late or incomplete tax filings and trigger penalties or interest. Here’s what you need to know.

A new tax credit found on Schedule 1 and 5 of the federal tax return bumps up your existing non-refundable credits by $2000 when you care for an infirm person. 

Canadians love tax refunds, but hate rounding up the paperwork to do the return. That’s where common tax filing errors really begin.

Be very careful about blanket advice.

The best kind of income is the tax free kind, and indeed, several sources exist. 

CRA form PD7A, Statement of Account for Current Source Deductions, along with the accompanying worksheet is the latest CRA form to move to the electronic age.

This week: 10 neat things about Dutch elm disease.