Quick Tips Arielle Smith Quick Tips Arielle Smith

Quick Tips: What is a T4RSP? Transfer your RRSP.

We will be teaching you guys what a T4RSP is, what circumstances will lead to one being issued to you and absolute no-no's with regards to your RRSP!

Check out my socials for other tips and tricks on how to run a successful business in Canada, and as always, feel free to message me with any questions!

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Individual Tax Jason Smith Individual Tax Jason Smith

Guide to Ontario Staycation Tax Credit

The temporary Ontario Staycation Tax Credit for 2022 aims to encourage Ontario families to explore the province, while helping the tourism and hospitality sectors recover from the financial impacts of the COVID-19covid 19 pandemic.

Ontario residents can claim 20% of their eligible 2022 accommodation expenses, for example, for a stay at a hotel, cottage or campground, when filing their personal Income Tax and Benefit Return for 2022. You can claim eligible expenses of up to $1,000 as an individual or $2,000 if you have a spouse, common-law partner or eligible children, to get back up to $200 as an individual or $400 as a family.

The credit will provide an estimated $270 million in support to about 1.85 million Ontario families.

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How to: Claim Home Office Expenses as an Employee T2200s and T777s

In this video Arielle from Fix My Books will be giving you an overview of how to claim home office expenses as an employee using a T2200s and T777s.

This will cover topics such as Eligibility, what forms to file with the CRA, what forms your employer needs to fill out as well as what you can and cannot claim on your T1 Tax Return.

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