Resources

Helpful sources of information.

Links

Payroll Deductions

>Need help calculating source deductions? Canada Revenue Agency (CRA) has an online payroll calculator that calculates federal and provincial deductions. 

Exchange Rate Calculator

>The Bank of Canada is a great resource for interest and exchange rates, price indexes and more. It offers convenient exchange rate calculators, investment calculators, and inflation calculators.

DISABILITY TAX CREDIT CERTIFICATE

>If you have a disability and would like to apply for Disability Tax Credit have your medical practitioner complete this form. The CRA will assess your application to determine if you are eligible for the disability tax credit (DTC) based on the information given by the medical practitioner.

T1 Personal Tax Return

>Need help getting your information ready to prepare your individual tax return? Click on the link to download a copy of our personal Income tax checklist.

Business Resources – Manitoba

>The government of Manitoba provides a variety of resources for businesses including starting a business, registration, legal and licensing, taxes and tax incentives.

ELIGIBLE MEDICAL EXPENSES

>Want to know which eligible medical expenses you can claim on your tax return?

Frequently Asked Questions

Can I claim travel and meal expenses to attend medical appointments?

If you had to travel at least 40 kilometres (one way) from your home to get medical services you may be able to claim travel expenses. As well, if you had to travel at least 80 kilometres (one way) you may be able to claim accommodation, meal, and parking expenses in addition to your transportation expenses. Call one of our team members for more information on making this claim.

Which medical expenses qualify for a credit?

The most common medical expenses include prescribed medications, medical devices, expenses for care, treatment or therapy by a medical practitioner, insurance premiums including travel insurance, and many more. For a full list see Medical Expenses 2017.

I have COPD, do i qualify for the Disability Tax Credit (DTC)?

In most cases persons with COPD or other prolonged illnesses would qualify for the DTC. In order to qualify, a medical practitioner has to fill out and certify that you have a severe and prolonged impairment and must describe its effects. Go to our Resources page to download Form T2201, Disability Tax Credit Certificate.

I am not a Canadian Citizen, should I be filling a tax return?

If you earned income from employment in Canada or you were self-employed in Canada you are required to file a Canadian Income Tax Return. You may also file a return if you are a resident of Canada even if you did not earn any income so that CRA can determine if you are eligible for any credits. For more information on this please contact our office.

We received a CPP Death Benefit for the estate of our loved one, is this amount taxable?

Yes, the amount must be claimed on either the beneficiary(ies) return or an Estate Trust return. Meet with one of our accountants to determine the most tax effective method of reporting this amount.

I received a call/text/email from Canada Revenue Agency (CRA) saying that I have a balancing owing that I wasn’t aware of, is this fraud?

Some ways to identify fraud are as follows:

The CRA will not do the following:

– ask for personal information of any kind by email or text message (e.g DOB, SIN, Banking info, etc.)
– request payments by prepaid credit cards.
– leave personal information on an answering machine.
– email you with a link asking you to “click here”
– Use urgent or threatening language (e.g. you will be arrested if you don’t pay by….)

Still not comfortable with this inquiry? Contact a member of our team for further assistance.

How much RRSPs should I purchase?

The tax-savings on RRSP contributions are based on your total income.  For best advice we can calculate your income and recommend an RRSP contribution that is best for you. We ask that you gather all of your prior year’s income information ( T4s, T5s, business/farming income…) and contact one of our team members. 

What is the RRSP deadline?
The deadline to make contributions to your RRSPs for the 2018 tax year is March 1, 2019.
What is the filing due date for my 2018 Income Tax Return?
  • Your return for 2018 has to be filed on or before April 30, 2019.
  • If you or your spouse are self-employed, your return has to be filed on or before June 15, 2019. However, if you have a balance owing you must pay it on or before April 30, 2019 to avoid interest charges.

 

 

I’m turning 60 this year, should I apply for my CPP?

Since your CPP amount is reduced when you apply prior to age 65, we recommend you consult with one of our team members to review your financial situation and determine the best age to apply for your CPP benefits. We’ll help you find the most tax effective scenario.

Have a question? Contact us!

Translate »