Canadian Self-Employed Filing Deadline for 2021 Tax Filing Wednesday, June 15, 2022 is the self-employed filing deadline for the income tax and benefit returns from 2021. What taxes do self-employed individuals pay in their income tax return? Personal Income Tax Canada Pension Plan Contributions Employment Insurance Premiums This is only required if you are eligible […]
GST Filing has changed in Canada as of July 1, 2021. This change meant that digital economy business including platform operators may have potential GST filing obligations. There are 3 main types of businesses affected which may need to register, charge and collect GST as well as ensure customers are paying GST on the specified […]
Training Tax Credit and How You Can Benefit Since 2019, the Canadian federal government has implemented a refundable tax credit called the Training Tax Credit to be used on eligible tuition and fees paid for courses taken in 2020 and subsequent tax years. This tax credit considers each individuals training credit limit for the taxation […]
Canada Recovery Hiring Program (CRHP) Due to COVID-19, the Canadian government provided a program to support businesses that have and continue to be impacted by the pandemic. The Canada Recovery Hiring Program, or CRHP, allows for employers to apply for subsidies to cover part of their wages as their hours or wages increase but also […]
What is the Climate Action Incentive? Due to Canada’s stance on climate change, they introduced the CAIP or Climate Action Incentive Payments to assist individuals and families offset the cost of federal pollution pricing. Certain provinces have voluntarily adopted this system and so their governments receive the proceeds directly. Other provinces such as Ontario, Manitoba, […]