Category Archives: Personal Income Tax

The CRA’s annual Office Audit Letter Campaign

 The CRA’s annual Office Audit Letter Campaign The Canada Revenue Agency (CRA) will soon be conducting its seventh annual Office Audit Letter Campaign. The letter writing campaign is designed to facilitate behavioural changes among a selected taxpayer population by providing … Continue reading

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How long do I keep my business and personal records?

The purpose of today’s note is to provide information to persons who are required by law to keep books and records in Canada.  A person in the context of this note includes, in addition to individuals, a corporation, a trust, … Continue reading

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Personal Income Tax: First-time home buyers’ tax credit

If in 2013 you were a first time home buyer, read on.  If you already file your taxes and missed this credit up, it is not too late, you can still claim it. What is it, then? If you are … Continue reading

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Reminder: Report your tips – They are taxable income

The Canada Revenue Agency (CRA) is reminding Canadians who earn tips and gratuities that they represent taxable income and must be reported on annual income tax and benefit returns. Restaurant servers, hairdressers, valets, taxi drivers, and others who earn tips … Continue reading

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