Natesh PillaiFeb 111 minCryptocurrency- EarningCryptocurrencies are commonly acquired in two ways: bought through a cryptocurrency exchange earned through mining Mining involves using...
Natesh PillaiFeb 111 minCryptocurrency-Reporting as either income or capital gainGenerally, if disposing of cryptocurrency is part of a business, the profits you make on the disposition or sale are considered business...
Natesh PillaiFeb 112 minCrypto Currency- Is it business income or capital gain?The income you get from disposing of cryptocurrency may be considered business income or a capital gain. In order to report it correctly,...
Natesh PillaiFeb 111 minNorthern residents deductions 2021You may live in a prescribed zone and be eligible to claim these deductions. To find out, visit Line 25500 - Places located in prescribed...
Natesh PillaiFeb 111 minEducator School Supply Tax Credit –To support teachers and early childhood educators in Canada, the government proposes to expand and enrich the Eligible Educator School...
Natesh PillaiFeb 111 minZero-emission vehicles The definition of zero-emission vehicle has changed for vehicles acquired after March 1, 2020. A vehicle may still qualify as a...
Natesh PillaiFeb 111 min2021- Home Office ExpensesYou may be eligible to claim a deduction of up to $500 annually for home office expenses in the 2021 tax year using the temporary flat...
Natesh PillaiFeb 111 minClimate Action Incentive-2021The Government of Canada has announced its intention to deliver the Climate action incentive (CAI) as a quarterly benefit payment. If you...
Natesh PillaiFeb 111 minINCOME TAX DEADLINES - CRALast year, Canadians filed almost 31 million income tax and benefit returns. Having the information you need on hand to file your return...
Natesh PillaiFeb 111 minCRA-Information ReturnsBudget 2021 proposes to amend the Income Tax Regulations to allow issuers of T4A (Statement of Pension, Retirement, Annuity and Other...
Natesh PillaiFeb 111 minCRA-Correspondence with BusinessesBudget 2021 proposes to change the default method of correspondence for businesses that use the CRA’s My Business Account portal to...
Natesh PillaiFeb 111 minCRA-Changes to the Default Method of Correspondence (implementation postponed to July 2022)Notices of Assessment Budget 2021 proposes to amend the Income Tax Act to provide the CRA with the ability to send certain notices of...
Natesh PillaiFeb 111 minCRA- Multi Factor Authentication (MFA) – Extended Passcode Duration Begins February 7As you are undoubtedly aware, MFA now applies to all Representatives. If you have not yet registered for the MFA system, you will be...
Natesh PillaiFeb 41 minHome Office Expenses- Changes in 2021 TaxesThe temporary flat rate method simplifies your claim for home office expenses. You are eligible to use this method if you worked more...
Natesh PillaiFeb 41 minSold Cryptocurrency !Disposing of cryptocurrencies You may sell your cryptocurrency for a profit or loss. When you sell your cryptocurrency, this is called...
Natesh PillaiFeb 31 minDo I need to file Tax returns ?You should find out about your tax obligations to see if you need to file an income tax and benefit return. Filing a return is the only...
Natesh PillaiFeb 33 minWe can help you with eligible benefit payments, deductions and tax credits while filing a return....By filing a return, you may be eligible for one or more of the following: Canada child benefit is a tax-free monthly payment for families...
Natesh PillaiFeb 31 minChange Address with CRA..You can easily change your address using My Account or the MyCRA mobile web app. You can also change your address: by mail or fax through...
Natesh PillaiFeb 31 minGot a T4A slip for COVID-19 benefit payment but you never received Payment !To report payments received in error or fraudulent activity related to COVID-19 benefits, please contact us as soon as possible. These...
Natesh PillaiFeb 31 minCovid 19-2021 Benefits and Taxes If you received COVID-19 benefits in 2021, these are considered taxable income. This means you will need to enter the total amount you...