Canada News Centre

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Child Care Costs Deduction

Child care costs are normally deductible by the spouse with the lower net income before deducting the child care costs. There are weekly and annual limits for child care costs deducted, as well as a limit based on your annual income. Click below…

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Ontario Taxes and Benefits

Benefit and tax credit programs for people living in Ontario – access an online tool to find information about benefit programs you may be eligible for. It takes only a few minutes, and may help you. Click below to read more: Ontario Taxes…

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RRSP Deduction Limits

The RRSP deduction limit is 18% of your previous year earned income to a maximum of $26,230 for 2018, $26,500 for 2019, and $26,230 for 2020. Click below to read more: RRSP Deduction Limits Source: Tax Tips

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Investment Income Tax Calculators

These calculators for all provinces show the big difference in taxes payable on different types of investment income. Even when the age credit and OAS are clawed back, Canadian dividends/capital gains result in the least taxes payable when compared to other types of income such…

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Tax Return Deadline Deferred re COVID-19

The 2019 tax deadline is extended to June 1, and tax balances and instalments may be deferred till after Aug 31 without interest or penalties. Support has been announced for small businesses, employees, self-employed, etc. Click below to read more: Tax Return Deadline…