Taxation

For most Canadians, the word “taxes” elicits a sense of dread, conjuring images of endless paperwork and complicated calculations. It’s a task many delay, hoping to bypass the annual state of confusion and potentially costly mistakes. If this strikes a chord with you, read on as we explore the 9 best tax return software in […]

Forget “Will you marry me?” How about “I want to open a spousal RRSP with you.” That is what true love looks like. No marriage certificate necessary. Nothing says commitment like combining your incomes and minimizing your overall tax bill. Keeping your financial house in order is a worthy endeavour that can pay off handsomely, […]

Like the small fortune buried in the cracks of your couch or the discovery of a $20 bill in the pockets of an old coat, your tax “return” can be intoxicating with its sweet scent of being reunited with your money. It seems that this money reappears in the most fateful way! But how do […]

Is the CAQ government’s $500 cheque enough to cover the cost of inflation? No it’s not. According to Hardbacon’s survey, 80.8% of Quebecers consider it too little. Not only is it inadequate, but a majority of Quebecers think it’s unfair but don’t agree on why.   Not enough money to make a real difference Since […]

If you are a resident of Ontario and are planning a short trip anytime soon, you may consider opting for a staycation in the province. At least you get to receive some money back from the Ontario government for enjoying the thrill of beautiful places in the province. It certainly makes saving for a vacation […]

Tax credits are great and Canadian taxpayers welcome every initiative that reduces the taxes that they have to pay. If you read digital news content for entertainment or education purposes, then you may can reduce your taxes. However, to get the digital new subscription tax credit, you have to subscribe to digital news publications from […]

Taxes can be scary and intimidating, especially if you have no background in accounting and finance. Fortunately, there are free tax software that make it easy to file taxes online.  This might come as a surprise to some, but it is possible to file taxes without having to hire the services of an accountant or […]

As each year comes to an end, it helps to start thinking of possible ways to pay less income tax and maximize your tax return. Filing your income tax and benefit return does not have to defeat you. You can easily process yours through an online software like TurboTax or H&R Block to reduce the […]

Setting up a Canada Revenue Agency (CRA) account provides taxpayers a secure, digital portal to manage their tax- and benefit-related account information. Whether for an individual registering for a My Account, or a company setting up a My Business Account, taxpayers can use the CRA service channel to manage tax-related affairs digitally.  Why do I […]

Picture this: you’re lounging in your comfiest PJs, sipping a cup of cocoa, and browsing through your online banking statement. Suddenly, you come across an unfamiliar transaction – the “Canada RIT Deposit.” Is it a secret gift from the Canadian government? Nope, it’s money they owe you. However, not all Canadians receive a RIT right […]

In recent years, tax filing through electronic platforms has become increasingly easier, particularly as new integrations through the Canada Revenue Agency (CRA) website are available. TurboTax is the most popular and best-selling income tax software in Canada, and has been used for more than 20 years by millions of Canadians. It is owned by Intuit […]

If you recently checked your bank account and saw a deposit labelled as Canada PRO, you’ve likely received a payment from the CRA for Child and Family Benefits. What is the Canada PRO Deposit? It is the Ontario Trillium Benefit for Ontario Sales Tax Credit and Ontario Energy and Property Tax Credit. The Ontario Trillium […]