Tax deductions or tax write-offs are the cash amounts that the Canada Revenue Agency (CRA) lets you take away from your total taxable income. If your business qualifies for sufficient tax deductions, this can bump you down into a lower tax bracket. That could then reduces your tax bill fo...
The Canada Revenue Agency (CRA) has effectively granted IOF-supporting universities charitable status, notably the ability to offer donors’ tax receipts. The CRA has a special category for international universities. The idea is that people should be able to get a tax deduction when...
Can I get tax deductions? If you’re using your home as your primary place of business—and not conducting business somewhere else on top of that—then you’re probably eligible. Check out the Canada Revenue Agency (CRA) guidelines tomake sure your home-based business qualifies.. ...
Receipts for tax deductions, such as medical, childcare or caregiver expenses, etc. Information from previous tax years, such as RRSP contribution limits, repayments required under the Home Buyers Plan or Lifelong Learning Plan The tax package you received from the CRA, including your access code...
deductions. If you're selected for a desk audit, you'll receive a letter outlining theaudit's scopeand the specific information or documentation required. Very similar to the pre-assessment review, provide the requested documents and be prepared to respond to any inquiries from the CRA tax ...
Canada Revenue Agency,简称CRA (加拿大税务局)— 加拿大政府的一个部门,其负责的金融事务,包括加拿大的税务法例,以及多项社会及经济福利计划。 Capital gain [loss] (资本增值[亏损])— 某资产的成本与出售该资产所得之间的差额。 Cheques (支票)— 用于支付商品或服务的一种方法。支票上写明要支付的金额,当收...
5. Write off losses as tax deductions You want your business to be profitable but business losses, like non-paying customers, capital losses or theft, can happen. The good news is, the CRA lets you use that loss to lower your overall taxable income. If you have a qualifyi...
Now that taxes can be filed, students in Canada might be wondering what that means for them. Canada Revenue Agency recently revealed tax tips for students, including tax credits, deductions, free tax clinics and more.
If you are planning to claim the Charitable donation tax credit on your next income tax return, make sure to get a receipt. You don't need to submit your receipts along with your income tax return, but do keep them in a safe place for five years in case the CRA asks to see them....
Audits, requests for information, collections, and investigations by the CRA Voluntary disclosures We have decades of experience navigating the Canadian court system, unparalleled tax and legal knowledge, and innovative and creative approaches to help you successfully resolve your tax dispute. We also ha...