Even if your business income is low, be sure to claim all your business-related expenses. Any business loss can be carried back 3 years or forward 20 years. Those earlier or later returns can then be reassessed to include the business loss and you could be eligible for an additional refund.
Have questions?
Give us a call at 905-571-2665 (BOOK)! We’ve got you covered!
Did you know?
If you are over 71 and can no longer contribute to your RRSP, you can still make a spousal contribution (and receive the tax deduction) if your spouse is younger than age 71 and you have RRSP contribution room carried forward.
Have questions?
Give us a call at 905-571-2665 (BOOK)!
You may be eligible for the temporary Ontario Staycation Tax Credit for 2022! This credit encouraged Ontario families to explore the province, while helping the tourism and hospitality sectors recover from the financial impacts of the COVID‑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.
Have questions?
Give us a call at 905-571-2665 (BOOK)!
We’ve got you covered!
