by James PendergastWhat Kind of Medical Expenses are Tax Deductible in Canada?
While health care in Canada is publicly funded, there are various out-of-pocket medical expenses that taxpayers incur on a daily basis. Examples inclu...
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 James PendergastWhat is the CRA Reassessment Period?
The CRA Reassessment Period is the amount of time the Canada Revenue Agency is allowed to adjust a personal, corporate, GST/HST, or payroll return. Ea...
by Jason RosenWhat Can the CRA Require me to Pay?
What Happens if you Owe Money to the CRA? It is important to know that if you are unable to pay the full amount that you owe to the Canada Revenue Age...
by Jason RosenWhat are the Penalties for Tax Evasion?
What is CRA Tax Evasion? The Canada Revenue Agency states that an individual or business engages in tax evasion when they intentionally ignore Canada...
by James PendergastHow Far Back Can CRA Audit?
The Difference Between a CRA Audit, and a CRA Review The Canada Revenue Agency (“CRA”) has two options when looking at reassessing or adjusting ta...
by James Pendergast