Navigating income tax as a self-employed business owner can feel overwhelming, but the T4002 guide from the Canada Revenue Agency (CRA) provides everything you need to handle your tax return with confidence. Whether you’re reporting business income, professional income, farming income, or fishing...
In this case, $1050 is the maximum non-taxable reimbursement amount you can issue to your employee who drove 1,500 kilometers in a tax year. What was the CRA mileage rate In 2023? The CRA mileage rate in 2023 was, on average, 2¢ lower. It was set at the following rates...
Tax credit and deduction for QPP contributions through employment income If your earnings subject to contributions are from employment income only and line 26 is: • positive, complete Part 2a below and see line 452 of the Revenu Québec Guide to the Income Tax Return • "0", complete Part...