For more information on the details previously announced by the CRA regarding home office expenses, see EY Tax Alert 2024 Issue No. 1, CRA provides guidance on home office expenses for 2023. In this Tax Alert, we provide a brief overview of the CRA’s latest guidance with respect to ...
Staying informed about tax updates is crucial for individuals and businesses to effectively manage their finances and comply with tax laws. Tax updates can encompass various changes, such as alterations to tax rates, adminstration procedures as well as reporting requirement. For this blog, I will ...
The Canada Revenue Agency (CRA) is the federal department that collects taxes and administers tax laws for the Canadian government and for many of Canada's provinces and territories.1Also known as the Agence du Revenu du Canada, it also oversees a variety of social and economic benefit and ...
” introduced in the 2023 tax year. These regulationsdemand reportingfor unregistered trusts, which many Canadians inadvertently establish through simple daily transactions such as adding a child to a bank account or sharing the title of a property with ...
One notable change pertains to the extension of the charitable donation deadline. The CRA is moving forward with the federal government’s proposal, allowing taxpayers until February 28, 2025, to make charitable donations and claim the related tax credits for the 2024 tax year. This is a signif...
One notable change pertains to the extension of the charitable donation deadline. The CRA is moving forward with the federal government’s proposal, allowing taxpayers until February 28, 2025, to make charitable donations and claim the related tax credits for the 2024 tax year. This is a signif...