Have you made any mistakes on any of your tax returns? Fear not! Amending these mistakes does not increase your chance of being audited, nor does it mean you have done something illegal. You can always fix these honest mistakes and the CRA would rather you do it instead of having to spend the time figuring it out.
Have questions? Give us a call at 905-571-2665.
Did you know? If you have childcare expenses such as: caregivers (nannies, babysitters), nursery schools, educational institutions that provide childcare services, day camps and sports camps with a primary goal of childcare, or boarding schools – you can claim them!
For more information on the amounts you can claim, click here!
Have questions? Give us a call at 905-571-2665.
Are you interested in an upcoming election?
Remember: you can get tax credits for making donations to your preferred party and candidate. These credits include:
75% of your first $300, 50% of anything between $401 and $750, and 33.33% of the amount between $751 and $1,275.
So, if you donate the full $1275, you’ll receive a tax credit of $650.
Note: As of January 1st, 2017, this tip no longer applies to corporations. Corporations do however have up to 20 years to claim all unused contributions
Have questions? Give us a call at 905-571-2665.
