Personal Taxes

Earnings Tax Information: The Deadline for Submitting Your 2021 Tax Return, Tax Brackets, and Extra

Income tax changes for 2021

The past two years have been unpredictable to say the least – and that uncertainty also applies to filing our tax returns. CRB or T2200, anyone? If you don’t know which those are, we’ve got them covered in our 2021 Canadian Tax Update, including new tax deductions and programs. Find out about Canadian Workforce Bans, Home Office Deductions, How To Apply For A Digital Message Tax Credit, The 15% Minimum Tax For High Income People, Home Buyer Credits, And More.

Find out what’s new for the 2021 tax season.

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Tax Claims for Canadians

You probably know how to claim childcare costs, charitable donations, and contributions to your Registered Retirement Plan (RRSP) – but what other deductions could you get? We list the most commonly missed tax claims. See if you are eligible for medical expenses, working from home, moving, tuition and schooling, investment fees, political donations, or buying your first home. And for each, we also state how the claim is asserted.

Read the full article: What To Get On Your Income Tax: 7 Deductions You Should Not Miss Out.

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How to start with the tax return

If you’re hesitant with your tax return, know you are not alone: ​​in 2020, over 60% of Canadians didn’t file on time. However, being late can be costly. So this tax season we want to help you overcome procrastination and avoid penalties and interest. Motivate yourself with the psychological hacks in our article: How To Make Your Taxes And Defeat Procrastination.

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