Tax season continues. Visit the website www.larosacpa.ca to get your tax\u00a0checklist 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.<\/p>\n June 15th, personal tax returns due for those that are self-employed but any taxes\u00a0payable are due by April 30th. Same is true for your annual HST filing.<\/p>\n Direct Deposit CRA, My Account Tax Credits often missed Divorced with Children Request for receipts Tax Refunds for a fee US Citizens in Canada I hope you find this general information helpful. Please consult with your\u00a0accountant 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\u00a0with your professional advisor before you act on any of the above information to ensure it\u2019s right for you.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":" Tax season continues. Visit the website www.larosacpa.ca to get your tax\u00a0checklist 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\u00a0payable are due by April 30th. Same is true for […]<\/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-575","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.larosacpa.ca\/index.php?rest_route=\/wp\/v2\/posts\/575","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=575"}],"version-history":[{"count":2,"href":"https:\/\/www.larosacpa.ca\/index.php?rest_route=\/wp\/v2\/posts\/575\/revisions"}],"predecessor-version":[{"id":577,"href":"https:\/\/www.larosacpa.ca\/index.php?rest_route=\/wp\/v2\/posts\/575\/revisions\/577"}],"wp:attachment":[{"href":"https:\/\/www.larosacpa.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=575"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.larosacpa.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=575"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.larosacpa.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=575"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n<\/strong>CRA is phasing out cheques and asking people to sign up for Direct Deposit. You\u00a0can do this when filing your return and get your refund quicker.<\/p>\n
\n<\/strong>Register for My Account on the CRA web site to access your tax information on\u00a0line, such as your notice of assessment and statement of a\/c, now and in the future.\u00a0Corporations can register for My Business Account to access their tax information.<\/p>\n
\n<\/strong>Ensure you are familiar with all the tax credits available and that you claim the ones\u00a0that you qualify for. Some like Public transit, Home buyers, Disability, Tuition,\u00a0Family caregiver, Ontario Trillium benefit & Senior property tax grants are often\u00a0missed by self-filers. Also note the Ontario Healthy Home Renovation tax credit.<\/p>\n
\n<\/strong>Only one parent can claim certain credits for children. Sometimes both parents try to\u00a0claim the same credit because they do not communicate. This could result in both\u00a0claims being denied. Talk before you file and avoid losing credits. Also ensure you\u00a0have proper backup to claim spousal support deduction.<\/p>\n
\n<\/strong>If you get a request to submit receipts for a deduction that you claimed, be sure to\u00a0respond within 30 days. Ignoring it will result in CRA disallowing the deduction.\u00a0Easier to deal with it on first request than to deal with it after assessed.<\/p>\n
\n<\/strong>Some tax preparers offer tax refunds upon filing your return, for a % of your refund.\u00a0With E-file and direct deposit, you can get your refund within a couple of weeks.\u00a0Is it really worth giving up part of your refund to get it a couple of weeks earlier?<\/p>\n
\n<\/strong>If you are a US citizen living\/working in Canada, you must still file a US tax return\u00a0and report your world-wide income by April 15th, (June 15th with available extension\u00a0but US taxes payable if any are due by April 15th.)<\/p>\n