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Starting in 2020, most taxpayers between the age of 25 and 65 began earning an entitlement to the Canada Training Credit of $500 per year. In order to claim the credit, the taxpayer has to have eligible tuition fees for the year. So, what’s the difference between claiming the tuition credit and the Canada Training Credit?
With the "ramped-up" activity of the Canada Revenue Agency ("CRA") relating to taxpayer audits, you and your clients will want to take pre-emptive measures to manage potential audit trouble spots.
Change is difficult at the best of times but today, it’s harder, especially for business leaders, owners and managers.
Did you know that our newly revamped VIP Affinity Program is still available to Knowledge Bureau graduates?
CRA has finally released the updated Disability Tax Form for the 2021 tax filing year which ended April 30 for individuals and June 15 for proprietors. Medical practitioners who complete Part B of form T2201 Disability Tax Credit Certificate using the digital application process will find that it is now updated to reflect the expanded eligibility criteria for mental functions and life-sustaining therapies, particular interest to diabetics and their caregivers. Here’s what you need to know: