Welcome to my monthly newsletter.<\/p>\n
Tax season continues. Visit the website www.larosacga.ca \u00a0to get your tax checklist and view past newsletters. Here are few things to consider this month.<\/p>\n
Tax Filing Dates<\/strong><\/p>\n April 30th, personal tax returns due.<\/strong> Direct Deposit<\/strong> CRA, My Account<\/strong> Corporations can register for My Business Account to access their tax information.<\/p>\n Tax Credits often missed<\/strong> Also note the new Ontario Healthy Home Renovation tax credit for seniors.<\/p>\n Divorced with Children<\/strong> Tax Refunds for a fee With E-file and direct deposit, you can get your refund within a couple of weeks. \u00a0\u00a0Is it really worth giving up part of your refund to get it a couple of weeks earlier?<\/p>\n US Citizens in Canada<\/strong> Request for receipts<\/strong> I hope you find this general information helpful. Please consult with your accountant or myself if you have any questions.<\/p>\n This material is provided for general information and is subject to change without notice. Please consult with your professional advisor before you act on any of the above information to ensure it\u2019s right for you.<\/p>\n","protected":false},"excerpt":{"rendered":" Welcome to my monthly newsletter. Tax season continues. Visit the website www.larosacga.ca \u00a0to get your tax checklist and view past newsletters. Here are few things to consider this month. Tax Filing Dates April 30th, personal tax returns due. June 15th, personal tax returns due for those that are self-employed but any taxes payable are due […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-524","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.larosacpa.ca\/index.php?rest_route=\/wp\/v2\/posts\/524","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.larosacpa.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.larosacpa.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.larosacpa.ca\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.larosacpa.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=524"}],"version-history":[{"count":1,"href":"https:\/\/www.larosacpa.ca\/index.php?rest_route=\/wp\/v2\/posts\/524\/revisions"}],"predecessor-version":[{"id":525,"href":"https:\/\/www.larosacpa.ca\/index.php?rest_route=\/wp\/v2\/posts\/524\/revisions\/525"}],"wp:attachment":[{"href":"https:\/\/www.larosacpa.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=524"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.larosacpa.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=524"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.larosacpa.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=524"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nJune 15th, personal tax returns due for those that are self-employed but any taxes payable are due by April 30th. \u00a0Same is true for your annual HST filing.<\/p>\n
\nCRA is phasing out cheques by April 2016 and asking people to sign up for Direct Deposit. You can do this when filing your return and get your refund quicker.<\/p>\n
\nRegister for My Account on the CRA web site to access your tax information on line, such as your notice of assessment and statement of a\/c, now and in the future.<\/p>\n
\nEnsure you are familiar with all the tax credits available and that you claim the ones that you qualify for. Some like Public transit, Home buyers, Disability, Tuition, Ontario Trillium benefit & Senior property tax grants are often missed by self-filers.<\/p>\n
\nOnly one parent can claim certain credits for children. Sometimes both parents try to claim the same credit because they do not communicate. This could result in both claims being denied. Talk before you file and avoid losing credits. \u00a0Also ensure you have proper backup to claim spousal support deduction.<\/p>\n
\n<\/strong>Some tax preparers offer tax refunds upon filing your return, for a % of your refund.<\/p>\n
\nIf you are a US citizen living\/working in Canada, you must still file a US tax return and report your world-wide income by April 15th, (June 15th with available extension but US taxes payable if any are due by April 15th.)<\/p>\n
\nIf you get a request to submit receipts for a deduction that you claimed, be sure to respond within 30 days. Ignoring it will result in CRA disallowing the deduction. Easier to deal with it on first request than to deal with it after assessed.<\/p>\n