Canada’s New Grocery Rebate: What to Know About the One Time Tax Free Payment For Low Income Canadians
Canada’s New Grocery Rebate: What to Know About the One Time Tax Free Payment For Low Income Canadians As part of Canada’s 2023 budget, the federal government has announced initial details of a new “grocery rebate” which would attempt to combat the rising cost of living in Canada. Inflation-driven food price hikes have been a significant
Read MoreCanada’s Underused Housing Tax – What You Need to Know
Canada’s Underused Housing Tax – What You Need to Know Underused Housing Tax (UHT) was introduced by the Govt. of Canada in 2022 in an effort to reduce the amount of housing in Canada that remains vacant while owners ‘sit on the investment’ as real estate prices continue to rise. For BC owners, particularly for
Read MoreFlipping A House? B.C. To Introduce House-Flipping Tax
Flipping A House? B.C. To Introduce House-Flipping Tax Effective as of January 1, 2023, the new residential anti-flipping tax rule came into effect in Canada according to which all flipped properties profits are subject to full income inclusion. The primary goal of this law is to combat excessive price growth in the housing market. It uses
Read MoreHere are answers to five of the top business tax information questions
Question 1: How do I register for My Business Account? You can register for My Business Account using your Canada Revenue Agency (CRA) User ID and password or through a sign-in partner. Haven’t set up your CRA User ID yet? Find out how here: Registration process to access the CRA sign-in services What you’ll need to register: CRA
Read MoreBeware of scammers posing as CRA employees
Over the past few years, scam phone calls from individuals claiming to be from the Canada Revenue Agency (CRA) have increased. As we approach the time of year to file personal tax returns, these calls become more frequent as scammers seek to take advantage of the tax season. How to make sure the caller is
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