New starting 2016: if you sold your principal residence, you have to report the sale on Schedule 3 and Form T2091. You do not have to pay tax on any gain from the sale because of the principal residence exemption. Change in usage from principal residence to rental or business is deemed disposition and has to be reported. There is a penalty for non reporting.
Fir more details please see the link to CRA website:
Tax season has started and as Canadians prepare to fill out their forms, officials are urging people to be cautious of Canada Revenue Agency (CRA) scams that are already on the rise.
According to Ottawa police, these scams happen all year, but there’s usually an increase in complaints starting in March until the end of April because scammers target people during tax season.
The Canadian Retirement Income Calculator will provide you with retirement income information, including the Old Age Security (OAS) pension and Canada Pension Plan (CPP) retirement benefits.
Please use the link below
Please see the link to the Charities Listings at CRA website.
It can be used to confirm if a Canadian charity is registered to help guide your donation decisions.
T4 slips begin to arrive in February, good time to think about WHAT TO DO WITH YOUR TAX REFUND.
Effective January 2016 MSP rated will increase by 4.2%. Family of 3 and more will be paying $150/month.