Taxccount's Blog
All you need to know about Canada Child Benefit
- January 18, 2024
It is true that if you want to give your child a good life, then it is an expensive thing to do. Right from taking care of daily requirements to education and other expenses, raising a child can take a considerable amount of your income.
Filing taxes when you study abroad
- July 26, 2023
Navigating tax obligations can be particularly daunting for Canadian students, especially those pursuing education overseas. Understanding and utilizing the array of credits and deductions offered by the Canada Revenue Agency (CRA) is crucial.
How to apply for GST/ HST credit in 2023?
- January 15, 2024
The GST/HST credit, also known as the Goods and Services Tax/Harmonized Sales Tax credit, is a tax-free payment provided by the Canadian government to help low and modest-income individuals and families offset some of the sales taxes they pay.
All that you need to know about RRSP withdrawal rules
- July 05, 2023
An RRSP, or Registered Retirement Savings Plan, serves as a tax-favored investment vehicle designed for Canadian residents aiming to save for retirement.
Applying for Canada Workers Benefit
- January 08, 2024
If you have spent some time in Canada, you must have heard about Canada Workers Benefit. But do you actually know the details about it, and how you can claim the benefits (if you are eligible for it).
Do’s and don’ts of secure online tax filing
- June 15, 2023
Ensuring your personal information remains secure while online is a crucial concern for many. It's generally advised against keeping such critical information on your mobile devices to avoid potential security breaches.
10 tax benefits that low-income Canadians should be aware of
- January 01, 2024
Low income in Canada is typically defined based on the Low-Income Measure (LIM) and the Low-Income Measure After Tax (LIM-AT). These measures take into account a person's or family's after-tax income and the size of the family unit.
Capital gains tax in New Brunswick
- May 24, 2023
Navigating the financial implications of diversified income streams, especially from investments such as stocks, mutual funds, or property, introduces the need to consider capital gains tax. This piece aims to shed light on the essentials of capital gains tax for residents of New Brunswick, Canada.
T5 Tax Form: Statement of Investment Income in Canada
- December 29, 2023
The T5 form is an essential document for individuals to include when filing their income tax returns. It provides a summary of income earned from investments during the tax year, which taxpayers must report on their tax returns.
What is a T4 slip and how can you get yours?
- May 01, 2023
In Canada, the T4 slip is an indispensable document for individuals, encapsulating proof of employment income. This form holds paramount significance for tax filing purposes, as it meticulously details the income received by an individual and the deductions made over the tax year.
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