Should I expect a T4 slip?
The end of February means T4 slips are due from your employer. T4s are one of the key pieces of paper needed for your tax return. Any slip that begins with a T indicates income, and they all have to be...
View ArticleNETFILE opens, tax season is here
The Canada Revenue Agency officially kicks off this tax season with the opening of the electronic filing system on February 11, 2013. Although the filing deadline for most people is April 30, the...
View ArticleCan I claim my mortgage interest on my home?
In the U.S., there is a provision that allows some homeowners to deduct mortgage interest on their tax returns. This can add up to substantial savings, but this deduction is not available in Canada....
View ArticleWhy didn’t I get a tax refund?
If you are expecting a refund, there is no greater disappointment than getting to the end of your tax return and finding your refund due is zero. Every tax situation is different but here are some...
View ArticleSupporting Breakfast for Learning
Last tax season, H&R Block Canada began working with Breakfast for Learning in Regina, Victoria and Windsor to raise funds for the charity as part of our Block Builders program. And we reached our...
View ArticlePrince Edward Island introduces sales tax credit details
The details of the new Prince Edward Island Sales Tax Credit were recently announced as the province prepares for the HST introduction in April 1, 2013. The sales tax credit will be paid quarterly as...
View ArticleB.C. Training and Education Savings Grant proposed
The B.C. budget presented on February 19, 2013, will not pass the legislature before the provincial election in May but, if enacted by the next elected government, B.C. families are set to enjoy at...
View ArticleCanada Revenue Agency offering to close dormant GST accounts
Former and current small business owners may be getting calls from the Canada Revenue Agency in the coming weeks to ask about dormant GST accounts. Account holders with no activity are being contacted...
View ArticleProvinces looking at higher-income earners to solve revenue problems
With most provinces facing deficit challenges, finance ministers have to find new sources of revenue. In his February 2013 budget, the BC Finance Minister chose to raise the general corporate tax rate...
View ArticleAre tips considered income?
Last summer, the Canada Revenue Agency released results of an audit of employees working in a restaurant in southern Ontario. It showed most of employees did not report their tips as income....
View ArticleEmigration and your tax return
The Canadian tax system is based on residency, rather than citizenship. You can still be a Canadian citizen and not have to file a tax return. However, if you emigrated from Canada last year, you still...
View ArticleFamily Caregiver Credit offers a little tax relief
The $2,000 Family Caregiver Credit was announced more than a year ago but 2012 is the first year it can be claimed on your tax return. The amount is meant to provide a little extra tax relief for...
View ArticleKeep your tax information secured
As millions of Canadians file their tax returns this month, it is important to remember to keep your tax information secure. Your return contains your Social Insurance Number and birthdate, as well as...
View ArticleHow to claim the children when parents separate
Filing taxes will be even more complicated for parents who separated or divorced in 2012. There are specific rules about how to claim your children and for spousal support. Here are some factors to...
View ArticleH&R Block office in Princeton, B.C., finds more than $105,000 in old tax returns
No one likes to pay more tax than they actually owe. Maureen Dos Reis, H&R Block franchise owner in Princeton, B.C., is a big proponent of reviewing past returns to make sure there are no dollars...
View ArticleFreelancing and your tax return
Freelancing gives you more career freedom but it usually means additional work at tax time. And if your records are less than stellar, you should take some time to get your receipts and invoices...
View ArticleFederal budget focuses on closing loopholes
Seniors on fixed income who cannot take advantage of pension-income splitting could always rely on at least one deduction: their safety deposit box fees. No longer. Effective in 2014, the new federal...
View ArticleWhat’s my province of residence?
Most people can answer easily when asked where they lived on December 31. But there are some situations that can make determining your formal province of residence more difficult. For tax purposes, you...
View ArticleAdvice for new Canadians filing their first tax returns
Filing that first Canadian tax return after arriving here might be a little confusing. But it is a necessary part of becoming a resident. New immigrant returns are processed slightly differently than...
View ArticleMaking sure you claim all your tax credits
No one wants to pay more tax than they must, so taking advantage of tax credits and deductions can result in a lower tax bill. Here are some of the most commonly missed deductions and mistakes...
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