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If an employer provides overtime meals or an allowance as an employment perk, there are three conditions that must all be met to in order to ensure that benefit is not taxable.
Canada announced in its 2013 federal budget that international tax evasion was at the top of the list of concerns for our nation and that capturing revenue from such sources would help alleviate the tax burdens on other citizens.
This is the first year I am required to withdraw some money from my RRIF account. However, that amount along with CPP and OAS will bump me up to almost $90K. I am probably not eligible to contribute to my spouse's RRSP, so are there any other ways to reduce my tax burden to CRA?
Professional tax advisors should now be familiar with new EFILE procedures for 2014, which will begin on February 10, 2014.
December 15 is just around the corner and that’s the time seniors and others who do not have tax deducted at source make their final quarterly tax instalment remittances.