Good news. Yes, you can, if you meet the following conditions:
* You worked from home due to COVID-19.
* You worked more than 50% of the time from home for a period of at least 4 consecutive weeks.
* You are only claiming home office expenses (not other employment expenses).
* Your employer did not reimburse you for your home office expenses.
It depends on which method you use. There are 2 methods:
Flat rate: $2 per day for a maximum of $500. However, you cannot claim other employment expenses.
Detailed method: You can claim the expenses related to the portion of your work space such as rent, electricity, heating, Internet and more.
Yes there is. For the flat rate method, the maximum is $500 while the detailed method is limited by your work income.
It depends, you'll need to compare. The advantage of the flat rate is that you do not have to show any receipts.
Never fun! Fortunately you have many options to choose from. You can pay online through your bank, a pre-authorized debit, physically at your bank, via mail or even in person.
Sure, you can file 2017 to 2021 tax returns electronically with NETFILE. For Quebec, you can NETFILE 2018 to 2021.
Your 2021 tax return needs to be filed on or before May 2, 2022.
It happens. File as soon as you can and, if you know you’ll owe money be sure to pay what you expect to owe before the tax deadline.Your 2021 tax return needs to be filed on or before May 2, 2022.
Sorry to hear that. If you were living common-law, you must wait 90 days from the date of separation to be considered separated. You will need to advise the CRA once the 90 days have passed of your separation through the RC65 form, in order to recalculate certain benefits, such as the GST credit and the Canada Child Benefit
This year NETFILE opens February 21, 2022
Absolutely but, you should keep any slips or supporting documents for six years in case the CRA selects your return for review.
Great question! The deadline for 2021 tax year is March 1, 2022. It’s worth playing with scenarios in your return before this deadline so you know the perfect amount to contribute to give you the best return you can get.
Each Canadian files a separate tax return regardless of marital status. However, you have to have certain basic information about your spouse on your return, such as name, SIN and their Net Income. We recommend you produce your tax returns together with a program like UFile in order to maximize any credit transfers allowed under the tax code (donations, pension income,medical expenses etc…). By doing this, you optimize the combined result of your tax return. Who doesn’t want more money in their pockets?
First of all, congratulations! You have to declare your change in marital status right away by phone, online through My Account, or by mail through the RC65 form. When you file your tax return, you must indicate your marital status change as well with a program like UFile.
Absolutely, by applying for it using the form T2201, Disability Tax Credit Certificate. This form must be completed by a medical practitioner and approved by the CRA, preferably before you submit your tax return.
The short answer is yes. Your school will give you a tax slip, the T2202 with the total eligible fees paid for the tax year. If you have more than one tax slip, you can claim all amounts more than $100.
Auto-fill my return downloads information from your CRA My Account directly into your tax return. UFile puts your data where it belongs in your return for the easiest tax filing ever.
You have a couple of choices. File a T1 Adjustment Request through the T1-ADJ form and mail it, with all relevant slips and receipts, to your tax center or use CRA’s My Account after you receive your initial assessment.
Not a problem. Sign into the CRA’s My Account service and it will tell you everything you need to know.
That depends. Many people enjoy receiving a tax refund, but getting a tax refund just means you've paid too much throughout the year.
Any eligible or qualified individual can claim a Home Accessibility Tax Credit. For additional details, please visit the CRA’s website.
The solidarity tax credit is available only in Quebec. It’s a refundable credit for low and middle-income families.
In order to receive the solidarity tax credit payment, you must claim it on your Quebec return, by completing Schedule D, meet the eligibility requirements and be registered for Direct Deposit.
Unfortunately, the answer is no. You cannot deduct the cost of special clothing you wear for work.
This depends on whether or not you have tax to pay. If you don't owe taxes, you won't pay penalties. The CRA will keep your refund and you won't receive any of the credits you're entitled to. If you owe taxes, expect penalty charges and daily interest on any unpaid tax.
If you can’t pay the taxes you owe right away, don’t delay and contact the CRA as soon as possible. If you don’t pay, the CRA will charge interest on a daily basis on any amount you owe until it is paid in full. Make sure you also file on time so you don’t add penalties to your interest charges. Ignoring the problem will not make it go away.
The CRA generally takes as little as eight business days to process returns filed using NETFILE. Filing by paper can take four to six weeks.
If your new home is at least 40 kilometres closer to your new job you can claim eligible moving expenses, especially handy if your new job is in a different city.
The short answer: probably not. If you do get audited, the CRA is just making sure that what you've reported is 100% accurate. Remember to keep all supporting documents for six years in case the CRA selects your return for review.
You can. But it’s not as much fun. Besides, using NETFILE ensures that you get a confirmation when you tax return is received and get your refund faster!
The burning question! The average refund in Canada is $1,895. What are you waiting for?
In most cases, yes. If you are a full-time student, then the bursary you received is not taxable and not reported in your total income. However, if you live in Quebec, the amount must be reported in your total income, and deductible afterwards on your tax return.
You can find your RRSP contribution limit for 2021 on your latest notice of assessment or notice of reassessment or online at MY Account on the CRA website.
With UFile, it’s easy to register for the Direct Deposit. Simply go to the Refund/balance owing section and complete the Change the direct deposit information. Keep in mind that if you need to change your banking information and want to NETFILE, you should contact the Government and have them update the information before you NETFILE.
Both the RRSP and the TFSA have been designed to encourage you to save money for the future.
• Made with pre-tax dollars
• Contributions are deductible
• Withdrawals are taxable
• You can contribute until you are 71
• Intended for retirement savings
• Made with after-tax dollars
• Contributions are non-deductible
• Withdrawals are tax free
• Can start contributing after you turn 18
• Intended as a short-term savings vehicle
No, the separation was not caused by a breakdown in your relationship. This is considered as an involuntary separate. This could happen when a spouse or common-law partner is away for work, school, medical reasons or is in jail.