Canadians can save for a home tax-free using the First Home Savings Account (FHSA). Prospective first-time home buyers can contribute or transfer from their RRSP up to $40,000 towards buying or building their first home.

The Canada Revenue Agency is currently updating its webpages and Form T2200 for the 2023 tax year. The updated form, which will be made available at the end of January 2024, along with other T1 related forms, will be easier to complete for employees who are only claiming a deduction for home office expenses.

This year, there have been many announcements about changes that will affect business taxes in 2024. We have pulled them together here for quick reference, along with a list of resources that can help you manage these changes and your tax affairs in the new year.

Scammers continue to pose as the Canada Revenue Agency (CRA) and other government departments and agencies, to trick you into giving them money or personal information. Unfortunately, they’re still having some success. The amount of money that people have lost to scams and fraud has increased over the years.

The Canada Revenue Agency (CRA) would like to remind taxpayers and registrants that they have until December 31, 2023, to make a taxpayer relief request related to the 2013 tax year or reporting period.

If you want to ask for penalty and interest relief, you must send your request within ten years from the end of the calendar year or fiscal period of concern.

It’s almost that time of year again: tax season. Many of us put off filing our income tax and benefit returns until the last minute or avoid filing altogether. By not filing, you might be missing out on certain benefit and credit payments, or a potential refund.

The Canada Revenue Agency (CRA) is here to help you file, so you’re not scrambling at the last minute before the deadline.