Canada News Centre

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Life in the Tax Lane October

This month’s video discusses: – CEWS audit letter / what to do – CERB replacements – Dividends paid when CRA is owed money – Reasonable meal allowances – Loan documentation – T2 Schedule 50 – CRA letter campaign Click below to read more: …

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When is CEWS Included in Income?

Both CEWS and the Canada Emergency Rent Subsidy (CERS) are included in taxable income immediately before the end of the qualifying period to which they relate. If not done, tax return amendments will be needed. Click below to read more: When is CEWS…

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Saskatchewan 2021 Budget – April 6, 2021

Active Families Benefit restarted; Home Renovation Tax Credit; Small Business corporate tax rate to be increased 2022 and 2023; Non-eligible dividend tax credit reduced for 2021; Road use fee electric vehicles; changes to sales tax and education property tax. Click below to read…

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Converting RRSPs to RRIFs

If you turned 71 this year, your RRSP must be converted to a RRIF, or used to purchase an annuity, by December 31st, but if you haven’t done this already your financial institution will probably be automatically converting it soon. If you turned 65 this…