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Tag: Canada Revenue Agency
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Are There Inheritance & Estate Taxes in Canada?
Clients regularly ask, are there Inheritance & Estate taxes in Canada? The good news is there is no inheritance tax in Canada on money or...
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September 2022
The Canada Revenue Agency (CRA) announced that the prescribed interest rates are increasing from October 1, 2022 to December 31, 2022. What does this mean...
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RRSP Over-contribution
A Registered Retirement Savings Plan (RRSP) is a great way to save for retirement. It offers flexible investing with tax-free investment growth in the plan. Withdrawal(s)...
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March 2022
It's March 2022 & time to get your taxes in! The federal government is late with CPP & OAS slips this year. Don't worry, they are...
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Voluntary Disclosures Program
Did you forget to claim some income on past tax returns? Or maybe you discovered a mistake on a past tax or GST/HST return? To...
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The Home Accessibility Tax Credit
Living in our own homes as we age improves our quality of life. By doing so, we maintain our sense of well-being, independence & self-worth....
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Common Audit Triggers
The Canada Revenue Agency (CRA) typically sends out about 30,000 letters a year letting Canadians know they are being audited. While that is only 0.1%...
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Is it Really the Canada Revenue Agency Contacting You?
One of the most common problems we face in our connected world today is scammers. They are constantly invading our privacy by pretending to be...
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GST/HST Exempt vs Zero-Rated Supplies
Do you know the difference between GST/HST exempt vs zero-rated supplies? Below is an explanation of each type, as well as some examples for you....
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New Home Purchase or Plans?
Have you made a new home purchase or plans to purchase? There are personal tax credits & assistance that may be available to you. The...
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Ordering forms from Canada Revenue Agency (CRA)
Did you know you can order some of the forms you need from CRA through their website? Some of the most common forms that you...
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Canada Caregiver Credit
Who can you claim this credit for? Do you support a spouse or common-law partner, or a dependent with a physical or mental impairment? The...
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Volunteer Firefighter &/or Search & Rescue Tax Credits
Were you a Volunteer Firefighter &/or Search & Rescue Volunteer? Did you complete at least 200 hours of eligible volunteer firefighting services or search &...
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Setting up a My Account
Here is a list of information you will need in order to setup your My Account with Canada Revenue Agency (CRA): 1 ) Your social...
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Small Business Deduction Reviews
Our team at Gadowsky & Associates LLP has seen an increase of corporate post assessment reviews from Canada Revenue Agency in regards to claiming the...
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