Canada Revenue Agencyrecently revealedtax tips for students, including tax credits, deductions, free tax clinics and more. Whether you're filingCanada taxesfor the first time now that you're attending post-secondary school or have submittedtax returnsbefore and have questions, here's what you need...
Work-Related Travel Expenses As a small business owner, you can claim any travel expenses incurred for business purposes. These can include the costs for taxis, train or plane tickets as well as accommodation. You could also claim for car hire related to business travel or other business purpos...
On 23 January 2025, the Department of Finance released draft income tax legislation and related explanatory notes to extend the deadline for taxpayers to make charitable donations that qualify for tax support for the 2024 taxation year. On the same day, the Canada Revenue Agency (CRA) announced...
Of course, it is likely that the Government of Canada would not want digital nomads to be eligible for provincial health care. For this reason, it could require them to provide proof of private medical insurance; a similar requirement is already imposed on parents and gran...
Healthcare Spending Accounts (HSAs), or Private Health Spending Plans (PHSPs), offer business owners or self-employed individuals a tax-effective way of paying for health and dental expenses with pre-tax dollars. Canada Revenue Agency (CRA) lists a wide range of products and services which ar...
The payroll process can be a hassle. It’s filled with time-consuming tasks, lots of legislation and rules, remittances to the Canada Revenue Agency (CRA) — and all just to ensure the amazing people that make up your workforcereceive their pay cheques. ...
Like regular earnings, the interest generated by your HISA savings is considered taxable income by the Canadian Revenue Agency. When you file yourtax return, you’ll be expected to disclose the interest earned. That figure can be found in the return of investment income slip, known as a T5,...
Through the Business Registration Online (BRO) service, the Canada Revenue Agency (CRA) has made it mandatory to set up an account with them to get the BN(Business Number). Before the first remittance due date, you must set up this account as an employer, which allows you to pay the Ca...
Travel insurance. Depending on the credit card, an extensive travel insurance package could be included. This could cover things such as medical expenses, trip cancellation, lost luggage, and more. No foreign transaction fees. Many credit cards charge a 2.5% fee when you make a purchase in any...
We may require you to submit proof such as your Canada Revenue Agency determination letter to verify your tax-exempt status. In simple Terms In order to use Wave Payments and verify your identity, we need to collect information about the business and its owners, which may include personal ...