Last updated: Jan. 9, 2025
Tax season can feel overwhelming, but don’t worry. Filing your taxes accurately and on time is easier than you think. We’ve compiled a handy list of key dates and tax numbers to help you get started. Canada’s tax filing and payment deadlines for the 2024 tax year Description Date Registered Retirement … Read more
When it comes to farm work, it’s not unusual to offer additional perks for employees.
You’ve worked tirelessly on your farm. Now, it’s time to reap the rewards… and pay as little tax as possible.
Misunderstandings swirled as farmers tried to prepare for the impact of the new capital gains inclusion rates, which took effect in June 2024.
When the time comes to sell the family farm, understanding capital gains taxes and exemptions can help you ensure you and the next generation will thrive.
Like farming, tax planning is a year-round activity, and the end of the calendar year is the perfect time to implement strategies to maximize tax savings.
Last updated: May. 7, 2024
Unfortunately, when it comes to instalment payments, the answer to this question is not so cut and dry. Installment payments are typically calculated using your previous years’ net taxing owing. If your net tax owing was more than $3,000 ($1,800 for Quebec) for 2022, and in either 2021 or 2020, then … Read more
Last updated: Apr. 29, 2024
Filing a return that is accurate and on time is the best way to avoid tax penalties and over-payment. With that in mind, below is a list of key dates and tax numbers to help you with your tax return. Canada’s tax filing and payment deadlines *If you are paying tax … Read more
Last updated: Mar. 28, 2024
Canada Revenue Agency Update, Effective March 28, 2024 In an update released March 28, 2024 the Canada Revenue Agency (CRA) has announced that bare trusts will not be required to submit a T3 Income Tax and Information Return along with a Schedule 15 (Beneficial Ownership Information of a Trust) for the … Read more