Canada News Centre

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Free Tax Preparation Service

If your income is relatively low ($30,000 for an individual) and your tax return is fairly simple, you may be able to get free help to prepare your tax return. Click below to read more: Free Tax Preparation Service Source: Tax Tips

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Business Tax Returns

If your business is incorporated, you must file a separate corporate income tax return. If not, the business income is included on specific forms in your personal income tax return. A professional accountant can help to ensure that you claim all allowable expenses. …

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Guaranteed Income Supplement (GIS)

GIS is available to low-income Old Age Security (OAS) recipients. It is usually based on the prior year income, but if an OAS pensioner has a reduction in income, Service Canada may base GIS on estimated current year earnings. Click below to read…

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Capital Losses

Capital losses can normally only be used to reduce or eliminate capital gains. However, they can be carried back to any of the 3 preceding taxation years, or carried forward indefinitely. Click below to read more: Capital Losses Source: Tax Tips

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Changing Your Tax Return

Discovered a missed tax slip? Missed expenses? It’s not difficult to change your tax return, and can be done with the tax software you used to NetFile your return. Click below to read more: Changing Your Tax Return Source: Tax Tips

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2020 Tax Comparisons Employment Income

BC, Ontario, and Alberta are the lowest tax provinces for a single person earning $50,000. See also comparisons for a single income family with 2 kids. Taxes include CPP/EI, ON Health Premium, and QC prescription drug premiums. Click below to read more: 2020…