Tax season is a stressful time for many Canadians - well, anybody really, but it doesn't have to be. With the right preparation and understanding of the process, filing taxes can be an easy and efficient process.  From understanding the tax deadlines to claiming eligible deductions and credits, this guide provides Canadians with the essential tips and resources to make tax time easier. 

Take the time to understand the tax implications of owning a rental property in Canada and be sure to
take advantage of all the deductions and credits available to you. Doing so can help you maximize your
return on investment and ensure you follow all tax laws and regulations.

Department of Finance Canada announced the automobile income tax deduction limits and expense benefit rates that will apply in 2023.

Find out what's new for the 2021 tax season and your filing and payment due dates. Begin by gathering your documents to report income and claim deductions, and choose how you want to file and send your completed tax return to the CRA. You can find our 2021 Tax Checklist at the end of this email, free to download!

Please note, this is simply a general overview on the major benefits and subsidies available to businesses. There are many more changes to come and many more benefits that exist because of COVID-19. We recommend you always consult with an accounting professional about your specific situation.

Stay tuned for more as we'll keep this post updated as best we can.

Talk soon and stay safe.

Article Written By Mike Libbey

Link to Original Articles:

https://www.canada.ca/…/reve…/campaigns/covid-19-update.html

https://www.canada.ca/…/departm…/economic-response-plan.html

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