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Essential tax numbers: updated for 2021

Use this handy list of tax numbers as a quick reference

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Liberals plan foreign buyers tax in bid to create affordable housing

The fiscal update said the feds plan to tax homeowners who use Canada to passively store wealth in housing

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Updated: Government moves ahead with relief for RDSP holders who lose DTC eligibility

Changes to take effect Jan. 1, 2021

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Feds to allow up to $400 for home office expenses

A proposal in the fall economic statement aims to provide a simplified claim process

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Employee stock option changes to take effect July 1

CCPCs and employers with annual gross revenues of $500 million or less will be excluded

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How should your clients own real estate properties?

There are benefits and risks to owning property personally, through a trust or through a corporation

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TFSA limit for 2021 released

Find out how much clients can contribute

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How to extract cash from a corporation

Consider these options to avoid unexpected tax results

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Ending RRIF withdrawal rules would cost $1B, PBO says

The Liberals shifted the marker this year, dropping the minimum for each senior by 25%

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Budgeting for 2021 CPP changes — and beyond

Will the pandemic lead to higher future premiums?

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Ontario proposes seniors’ renovation tax credit

Refundable tax credit would offer up to $2,500 for eligible home improvement expenses for 2021

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O’Toole calls for pause on CRA audits for businesses struggling due to Covid-19

The Liberals' latest relief provisions have been met with mixed reactions from business groups

Income and gains on TFSA overcontributions can remain in account, CRA says

There are exceptions for cases of deliberate overcontributions or penalty waivers

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Refinancing prescribed rate loans just became easier

Canada Revenue Agency confirmed a more flexible approach at the Canadian Tax Foundation conference

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Prepare now for tax fallout from Covid-19, says tax expert

An aggressive taxman is on the way, Kim Moody says

Tax planning in a unique year

CERB, combined with lower deductions, is a recipe for potential tax owing

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Potential tax implications of the U.S. election

The impact of tax policy extends north of the border

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CRA: Employers can now reimburse home office furniture tax-free

Employer reimbursements of up to $500 not a taxable benefit if related to Covid-19

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Finance department study details workers hit hardest by tax, benefit system for extra earnings

The findings could help guide federal efforts as the Liberals attempt to massage taxes and pandemic-related benefits

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Feds extend deadline to apply for DTC, receive $600 disability benefit

The extension is welcome news for Canadians with disabilities

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Why now may be a good time for wealthy Canadians in the U.S. to return home

Biden’s proposed tax hikes target high earners

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Taxpayer watchdog to monitor how CRA handles pandemic-stressed taxpayers

The agency has agreed to be understanding with Canadians, Boileau says

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Feds score big with extra funding of CRA’s business compliance programs

Each additional dollar of funding results in six dollars of "fiscal impact"

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NDP wants to increase tax on excess profits

Jagmeet Singh suggests doubling the tax rate for companies earning record profits during Covid-19

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CRA to withhold tax from new Covid-19 benefits

Unlike the CERB, new benefits will be subject to 10% tax at source