There are a number of income sources available to Canadians in retirement.
Newsletter Archives - Akler Browning LLP
Fortunately for the Canadian taxpayer, most individual income tax returns filed result in the payment of a tax refund to the tax filer. Notwithstanding, a significant number of taxpayers find, on completing the annual tax return, that money is owed to the Canada Revenue Agency.
Most Canadians live their lives with only very infrequent contact with the tax authorities and are generally happy to keep it that way.
It is an axiom of tax planning that the best year-end tax planning begins on January 1.
Two quarterly newsletters have been added—one dealing with personal issues, and one dealing with corporate issues.
Most Canadians deal with our tax system only once a year, when it’s time to complete and file the annual tax return.
For many years, the Canada Revenue Agency (CRA) has been encouraging Canadian taxpayers to file their returns online, through the CRA’s website. And that message has clearly been heard, as the most recent statistics show that just under 92% of returns filed in 2022 were filed using one or the other of the CRA’s web-based filing methods.
The obligation to complete and file a tax return – and to pay any balance of taxes owed – recurs each spring with what probably seems to many taxpayers to be annoying regularity.
As the pandemic dragged on into 2022, many employees continued to work from home for pandemic-related reasons.
Just about a year ago, in the 2022-23 budget, the federal government announced a number of measures to help Canadians who are trying to put together a down payment for the purchase a first home.