by Jason RosenWhat is HST in Ontario?
HST stands for “harmonized sales tax”. A harmonized sales tax is otherwise known as a consumption tax, which is a tax levied on spending (think of...
by Jason RosenIs Tax Deducted from CPP Payments?
The Canada Pension Plan (CPP) operates throughout Canada, except in Quebec, where the Quebec Pension Plan (QPP) exists, aiming to provide contributors...
by Jason RosenWhat is the Working Income Tax Benefit?
The Working Income Tax Benefit (“WITB”) is a refundable tax credit intended to provide tax relief for eligible working low-income individu...
by Jason RosenWhat is a Schedule 5?
The Canada Revenue Agency’s (CRA) Schedule 5 is used when taxpayer’s want to claim an amount for an eligible dependent, the amount for an infi...
by Jason RosenWhat is a Schedule 1 Federal Tax Form?
CRA Schedule 1 A Schedule 1 Federal Tax Form, or a CRA Schedule 1 as some people call it, is used to calculate the percentage of your income you are g...
by Jason RosenDo You Have to Pay Tax on Rental Income?
What is Rental Income? Rental income is any income earned for allowing others the use of a specific space. This includes houses, apartments, individua...
by Jason RosenWhat is Wage Garnishment?
A wage garnishment is when a creditor seizes some, or all of your earnings to pay off your amount owing. It is often used by the Canada Revenue Agency...
by Jason RosenHow do I file Last Years’ Tax Return?
For one reason or another, your last years’ tax return was not filed . The longer it remains un-filed, the more penalties and interest that will...
by Jason RosenHow to Calculate CRA Penalty and Interest
If you have a balance owing for a tax year, the Canada Revenue Agency begins charging compound daily interest on May 1st of that year. The interest i...
by Jason Rosen