Report the value of the benefit including the GST/HST that applies in box 14, “Employment income,” and in the “Other information” area enter code 34 at the bottom of the employee’s T4 slip.
Also, report the benefit […]
In April 2015 federal budget announcement, the tax-free savings account (TFSA) annual contribution limit is proposed to be increased to $10,000 from the current $5,500, applicable as of January 1, 2015. The TFSA contribution limit will no longer be indexed annually to inflation […]
CRA has outlined a number of new or updated tax relief measures. Some of these new measures are:
– Children’s fitness tax credit – maximum increased to $1,000 per child
– Search and rescue volunteer tax credit amount – up to $3,000.
– Family tax credit – couples with children under […]
On October 30, 2014 government proposed to increase the monthly UCCB benefit by $60, from $100 to $160 for each eligible child under the age of 6 years effective January 2015. The October 30 announcement also includes a proposal for a monthly UCCB benefit of $60 for an […]